Cash Operations Manager Jobs in Reston, VA (NOW HIRING)

Minimum Education

Bachelor's degree or equivalent experience

Minimum Experience

8

Summary

The Manager directs the activities of the section with general guidance from the supervising officer. The Manager is responsible for leading, developing and executing administrative supervisory duties for section staff. The Manager supports division leadership in setting and focusing priorities on strategic objectives and leads or contributes to management initiatives to achieve the division's goals. The Manager will lead a section that supports the Board in meeting its statutory responsibilities under the Federal Reserve Act to issue Federal Reserve notes and/or oversee the Reserve Banks' provision of currency and coin to depository institutions through note design, production, issuance and stakeholder education in partnership with other Federal agencies.
 

Duties and Responsibilities

• Manages the section including assigning work, managing schedules, providing input and review, communicating priorities, and performing other necessary functions.
• Manages the performance of staff utilizing the Board's performance management framework. Develops staff by providing experiences such as development opportunities and broadening assignments, providing guidance, assessing performance, and providing specific and timely feedback. Oversees the development and execution of projects, programs, and initiatives that support the section priorities.
• Identifies and manages risk and opportunities to achieving section goals including balancing competing priorities.
• Represents division and/or Board views with other Board divisions, Reserve Banks, government agencies and other
• Leads staff by providing expertise and perspective to address issues and solve problems in innovative ways.
• Enables section staff to act as advisors in relevant areas of expertise for the Board.
• Implements processes to provide officers and stakeholders with relevant information in a timely and appropriate manner, allowing ample opportunities for input and collaboration.
• Adapts to, assesses and plans for changing conditions to achieve the section's strategic priorities,
• Creates a team environment by fostering collaboration and open communication, building consensus, and recognizing team successes.
• Sets the strategic objectives and priorities for the section, ensuring alignment with Division and Board vision, mission, and strategic goals.
• Actively participates in the division leadership team and contributes to broad division initiatives including taking pert in the collective ownership of the division's culture and engagement.
• Considers both division's and section's needs in planning activities.
• Contributes to the strategic planning at the divisional level by developing and communicating section specific priorities.
• Managers perform the following responsibilities with limited guidance: Directs teams managing operational policies, banknote quality or public outreach as part of the Board's currency issuing responsibilities. Builds consensus and active support by decision-makers across agency boundaries to achieve U.S. Currency Program objectives.

Position Requirements:
A bachelor's degree in economics, finance, mathematics, accounting, information resources, or another related field and a minimum of 8 years of related experience, or a master's degree in a related field and 6 years of related experience.

Principal Duties and Responsibilities:
Managers perform the following responsibilities with limited guidance:
Manages the section including assigning work, managing schedules, providing input and review, communicating priorities, and performing other necessary functions.
Manages the performance of staff utilizing the Board's performance management framework.
Develops staff by providing experiences such as development opportunities and broadening assignments, providing guidance, assessing performance, and providing specific and timely feedback.
Oversees the development and execution of projects, programs, and initiatives that support the section priorities.
Identifies and manages risk and opportunities to achieving section goals including balancing competing priorities.
Represents division and/or Board views with other Board divisions, Reserve Banks, government agencies and other stakeholders.
Leads staff by providing expertise and perspective to address issues and solve problems in innovative ways.
Managers perform the following responsibilities with regular guidance:
Creates a team environment by fostering collaboration and open communication, building consensus, and recognizing team successes.
Sets the strategic objectives and priorities for the section, ensuring alignment with Division and Board vision, mission, and strategic goals.
Actively participates in the divisional leadership team and contributes to broad division initiatives including taking part in the collective ownership of the division's culture and engagement.
Considers both division's and section's needs in planning activities.
Contributes to the strategic planning at the divisional level by developing and communicating section-specific priorities.
Remarks:
The manager of the Banknote Issuance and Cash Operations (BICO) section oversees the team and work responsible for fulfilling the Board's role as issuing authority for U.S. currency. The team accomplishes this role primarily by: conducting analysis to prepare the demand forecast for the annual order of banknotes to the Bureau of Engraving and Printing (BEP);  managing the >$1 billion currency budget covering banknote production costs, capital improvement projects, inter-agency reimbursements, and R&D efforts; and conducting oversight over the cash operations and budgets for the cash line of business in Reserve Banks. 

In support of the Board's issuing responsibilities, the team also sets various policies including, but not limited to, inventory reserve guidance (contingency and operational), new note release processes, and recirculation strategies. The team may conduct and should stay abreast of payments research in the United States and abroad to influence industry and market participants. 

To manage the currency budget, the manager will work with both internal and external stakeholders to include the other cash & RBOPS sections, the Board's Management & Financial Services team, and the BEP. While the budget is primarily to reimburse the BEP for their costs to produce banknotes, it also includes the operational budget for the Board's expenses and personnel supporting the Board's issuance responsibilities. The manager should be able to manage the day-to-day financial management duties while also navigating the complex structure of our budget. The Board's side of the budget also includes several external contracts for vendors from armored carriers to security feature development. In addition to leading the budget activities, BICO staff also provide lead coordination of procurement activities. 
 

The team's oversight of cash operations includes individual Reserve Bank oversight and that of FedCash services, part of the Federal Reserve Financial Services. Current oversight activities include large scale programs to replace high speed cash processing machines, evaluating the future footprint of cash services, and the System's role in coin distribution. The BICO team also leads the development of the policies on custody and controls of cash handling and note destruction. 

This role will require managing the day-to-day work of the section, planning and executing the annual work plan of the section, and oversight of work performed by other agencies but reimbursed by the Board through the currency budget. This work will include building relationships, consensus, and direction setting while working in partnership with other stakeholders at the Board, in the Reserve System and at other agencies.

Candidates must be results and goal oriented, with a track record of proven ability in leadership, quick assimilation and action on new information, initiative, and management of complex relationships with private and public sector partners.
 

Outstanding interpersonal, analytical, risk management and oral/written communication skills required. Experience representing the Federal Reserve to other government agencies or other central banks is preferred.

U.S. citizenship required. Position is located in Washington DC, and on-site presence required. Some travel is required for this position.
 

A writing sample or sample of analysis work may be requested.