Monday – Friday 7:00 AM – 3:45 PM
The primary goal of the Cash Department of the Federal Reserve Bank of Cleveland is to maintain confidence in U.S. currency and meet the needs of the marketplace by supplying currency and coin to meet domestic and international demand, maintaining the quality and integrity of currency in circulation, and ensuring depository institutions have ready access to cash services. To achieve this mission, 4th District Cash services operate from the Cleveland and Cincinnati Reserve Banks and in collaboration with our Federal Reserve colleagues in other Districts.
Ensures the appropriate circulation of currency/coin inventory to meet the needs of financial institutions during normal operations and periods of contingency events. Applies developed job knowledge and experience to receive, verify and/or pay out large volumes of currency, and coin in a team environment. Performs complex balancing and other data entry tasks with minimal supervision. May perform basic accounting and financial functions Applies independent judgment and discretion within the framework of governing procedures to maintain custody and accountability in a valuables handling environment.
1. Prepares and processes large volumes of currency/coin in a highly controlled team environment. Applies developed job knowledge and experience to operate equipment and exceed district productivity and compliance metrics.
2. Adheres to processes and procedures to perform initial receipt and verification, destroy large volumes of currency, and/or payout currency following procedures described in TCOM, CCPS and the District Procedure Manual. This requires using extensive knowledge of multiple procedural documents, including revisions that occur each year.
3. Reconciles and balances physical inventory with internal automation systems using proprietary software designed for the cash function. Displays basic problem solving skills.
4. Through trained observation, detects, and secures counterfeit, old series, and/or altered notes. Prepares notes for transfer to the final disposition. (Must pass counterfeit certification test on a semi-annual basis.)
5. Uses enhanced knowledge of the currency circulation process and automated systems to help resolve operating exceptions and escalate when necessary. Prepares supporting documentation for daily transactions and physical holdings including original source documents that will serve as the official record according to the System Records Retention Manual.
6. Performs under the frequent view of compliance and audit staff while maintaining focus on quality, controls, and productivity. Employees perform their job responsibilities under constant video surveillance. Display the ability to engage with auditors and to explain processes and procedures.
7. Participates in bankwide and district events and/or projects.8. Adheres to the department policies and procedures.
• Performs other duties as assigned or requested.
• Adheres to the Bank`s attendance policies through regular and prompt attendance.
Education and Experience
High School Diploma
3+ years of related work experience
Knowledge and Skills
Ability to perform independent research
Ability to perform complex tasks
Ability to work in a team environment
Ability to follow established policies and proceduresSkill Areas
Basic math skills
Basic Problem solving
Effective communication skills
Specialized technical skills in cash handling
Physical Demands and General Working Conditions
Production environments: Employees in this position work in a controlled environment with one or more partners under Federal Reserve and Treasury custody control standards. This is a very physical job requiring repetitive lifting and moving of currency weighing greater than 30 pounds. Additionally, employees may be required to operate manual equipment (tow motor) to move containers exceeding 1,500 pounds. Limited sitting occurs and most of this job is performed standing and walking in an enclosed work area. Workrooms are climate controlled. However, working conditions may vary due to external elements. Employees need to be aware of their surroundings due to frequent movement of containers. Exposure to noise from various machines will occur. Employees may be required to push and pull currency containers of moderate to heavy weight.
The Federal Reserve Bank of Cleveland is an Equal Opportunity Employer. We are dedicated to sustaining an environment in which diversity is valued and differences are strengths. It is the Bank’s policy to provide equal employment opportunity for all employees and applicants without regard to race, color, religion, sex, national origin, age, disability, gender identity or expression, genetic information or sexual orientation.