Vice President - Cash Operations
Posted on Jan 14, 2019 by Federal Reserve Bank of Boston
The company operates within the financial sector.
- Defines the vision and develops strategic and tactical direction and objectives for the Boston Cash office that is comprehensive, realistic and effective in meeting relevant FRS and Bank goals. Contributes to and influences the strategic direction and high priority objectives set by the Cash Product Office for the System Cash business line. Oversees the effective execution of all program and project initiatives.
- Oversees and directs the smooth and continuous operations of the Currency and Coin Paying and Receiving, High Speed Processing functions of Cash Operations to meet currency and coin needs of our customers; as well as Cash's internal Compliance, Settlement, Training and Technology functions to ensure effective and efficient operations. Provides leadership, management oversight, and support to ensure management and staff understand and meet financial, productivity and quality goals.
- Recruits and develops strong leaders to manage this critical business function. Develops and oversees all people management strategies for the department. Provides leadership advice and consultation to direct reports. Creates a culture that encourages diverse perspectives and innovative thinking and approaches by individuals and teams within and outside of the Cash Operation.
- Designs and monitors internal controls and security safeguards relating to Cash Operations for the protection of Bank employees and assets; ensures maximum control and security of operations. Ensures compliance with all applicable Treasury, FR System and other applicable internal and external policies and procedures, standards and quality measures, to ensure the highest level of public confidence and operational integrity.
- Represents the Bank at a senior level by establishing and maintaining positive relationships with the Cash Product Office and Cash Advisory Group (CAG) members to stay fully engaged by supporting/leading workgroups and committees. Develops leadership in the Department to ensure active participation in System work and that strong succession plans exist.
- Influences currency technology requirements and development and Cash Services standardization decisions and strategic initiatives. Translates relevant activities into concrete action plans. Oversees the execution of complex technology projects directed locally or by the Cash Product Office. Stays up to date on relevant technology.
- Plans, recommends, develops and implements new and improved methods of operating and assists in formulating overall operating policies. Focus on end to end efficiencies in handling cash at the Federal Reserve, and throughout the supply chain including the Carriers, Financial Institutions and merchants.
- Oversees the forecasting of currency and coin receipt and payout volumes and maintains appropriate facilities for the storage and security of valuables; ensures adequate inventories of currency (including new and fit) and coin in vault area; ensures close working relationships with the carriers to promote the use of coin depots (and terminals) to reduce coin activity at the Bank.
- Assures the prudent forecasting and management of all human and physical resources necessary to assure a well- controlled operation.
- Develops the Boston Cash budget and advocates for the budget with the CPO. Ensures the budget guidance is achieved.
- Develops and maintains strong relationships with key stakeholders including: supply chain partners, seeks information proactively from carriers and financial institutions of any that may affect our business volumes, which will help us in planning our resources and adjusting the forecasts; with the vendor for High Speed equipment to ensure performance meets objectives; the Board, Treasury, and internal support departments. In addition, maintains close relationships with nearby Reserve Banks (e.g. New York, Philadelphia) to seek assistance or provide assistance in case of serious management or staff turnover that may affect the ability to perform or continuity issues that may demand.
- Assures training and development programs are developed, updated and administered (including refresher training as required) to increase employee knowledge, improve their ability to perform assignments, and enhance their potential for advancement.
- Knowledge and experience normally acquired through, or equivalent to, the completion of a graduate degree and a minimum of 11-13 years of job related, including at least 6-8 years of supervisory/ management experience (including but not limited to a Manager, Director and/or Assistant Vice President).