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Cash Admin Specialist I

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Federal Reserve Bank of Chicago

1mo ago

  • Job
    Full-time
    Junior Level
  • Accounting & Tax
  • Chicago
  • Quick Apply

AI generated summary

  • You need a high school diploma, 1+ year of relevant experience, strong skills in MS Office, effective communication, and the ability to work independently or in a team in a controlled environment.
  • You will manage currency inventory, verify transactions, prepare documentation, respond to inquiries, compile reports, and ensure compliance with procedures while supporting a cash handling team.

Requirements

  • High school diploma or equivalent
  • Relevant coursework in business, accounting, and/or operations
  • 1 or more years of related work experience
  • Ability to use MS Outlook, MS Word, MS Excel and automated information technology systems
  • May be required to receive training and certification to operate material handling equipment as required by OSHA
  • Must be able to communicate effectively and work independently and/or as part of a team
  • Ability to work as a team member in a highly sensitive and rigorously controlled and monitored environment
  • Ability to work 5 days x 8 hours

Responsibilities

  • Supports the circulation of currency and coin inventory to meet the needs of financial institutions and the public during normal operations and contingency situations. Strict adherence to a set of defined rules and regulations, including those outlined in the Treasury Currency Operations Manual (TCOM), Custody Control Principles and Standards (CCPS), Federal Reserve Accounting Manual (FRAM) and internal District and System Cash Procedures, is required. As a Cash Admin Specialist I, you will be part of a team that provides customer service to depository institutions including retrieving and adjusting currency orders, submitting daily statistical data to the Board and independently verifying and balancing the currency transactions of the cash handling teams, as part of SOX controls. You will settle the department transactions each business day as part of the bookkeeping task. The level of work required is considered intermediate and staff must be able to work as part of a custody team and under general supervision. You may provide some training and/or directions to other staff. This position does not have direct reports.
  • Your Responsibilities:
  • Performs general administrative functions for the department including but not limited to preparation of correspondence, verification of staff time records, and filing.
  • Creates outgoing currency paperwork for the Currency Paying department.
  • Performs due diligence procedures for currency and/or coin orders that require administrative assistance.
  • Places new currency and coin orders as applicable.
  • Independently verifies Cash department daily balance documentation using source documents.
  • Performs end of day balancing and settlement transactions in accordance with governing documents for the entire Cash department.
  • Complies with all District and Treasury procedures associated with approving and certifying daily and monthly notes destroyed.
  • Researches and responds to customer inquiries and/or needs.
  • Escalates issues to management as appropriate.
  • Compiles data for correspondence in response to District, System or industry inquiries and provides support to identify and resolve operational problems.
  • Compiles daily, weekly and monthly statistics documentation on volume and inventory levels and prepares reports for internal and external use.
  • Maintains and applies thorough knowledge of multiple procedural documents. Identifies issues to ensure compliance with System, District and Branch procedures and guidelines.
  • Receives annual training on the many controls and procedures governing these duties.
  • Conducts unit reviews as applicable. Supports projects or analysis assigned by management.

FAQs

What is the main responsibility of a Cash Admin Specialist I?

The main responsibility of a Cash Admin Specialist I is to support the circulation of currency and coin inventory to meet the needs of financial institutions and the public, while adhering to defined rules and regulations.

Is prior experience required for this position?

Yes, one or more years of related work experience is required for the Cash Admin Specialist I position.

What educational background is preferred for applicants?

A high school diploma or equivalent is required, along with relevant coursework in business, accounting, and/or operations.

What software skills are necessary for this position?

Applicants must be able to use MS Outlook, MS Word, MS Excel, and automated information technology systems.

Will I receive training for this role?

Yes, you will receive annual training on the various controls and procedures governing the duties of a Cash Admin Specialist I.

What opportunities for career growth are available?

The position offers a continuous learning environment with opportunities to gain new skills and grow your career.

How does the Federal Reserve Bank of Chicago ensure a diverse and inclusive workplace?

The Federal Reserve Bank of Chicago is committed to equal employment opportunity for employees and job applicants, valuing employees for their differences.

What are the working hours for this position?

The position requires the ability to work 5 days a week, 8 hours each day.

What benefits does the Federal Reserve Bank of Chicago offer?

The bank offers a comprehensive benefits package including medical, dental, vision, prescription drug coverage, a 401k savings plan, retirement plan, paid time off, and a transit benefit.

Is this position exempt from overtime?

No, the Cash Admin Specialist I position is non-exempt.

What should I do if I or my family members own securities associated with banks?

If you or your spouse/domestic partner or minor child own such securities and would not be able to divest them if offered employment, you should discuss this with the recruiter for guidance from the bank’s ethics official.

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Federal Reserve Bank of Chicago

The Chicago Fed's success depends on the skills and talents of many people from different backgrounds.

Finance
Industry
1001-5000
Employees
1914
Founded Year

Mission & Purpose

We serve the public interest by fostering a strong economy and promoting financial stability. Operating with a head office in Chicago and a branch office in Detroit, we serve the Seventh Federal Reserve District, an economically diverse region that includes all of Iowa and most of Illinois, Indiana, Michigan, and Wisconsin. Our success depends on the skills and talents of many people from different backgrounds. We support a diverse and inclusive workplace, where employees are respected, treated fairly, and given equal opportunities to perform to their fullest potential.