Currency Issuance & Operations Specialist - Currency/Board Currency Desk - R024508

Primary Location : DC-Washington

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Employee Status : Regular

Overtime Status : Exempt

Job Type : Standard

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Relocation Provided: : Yes

Compensation Grade Low: : FR PAY GRADE 24

Compensation Grade High: : FR PAY GRADE 25

Minimum Salary: : $92,800.00

Maximum Salary: : $170,000.00

Posting Date : Jun 2, 2024

Minimum Education

Bachelor's degree or equivalent experience

Minimum Experience

3

Summary

Currency Issuance and Operations Specialists work under regular supervision of the section manager to facilitate the distribution of new currency from the Bureau of Engraving and Printing (BEP) to the Reserve Banks and manage shipments of currency among the Reserve Banks. Reviews, calculates, tracks and trends currency inventory levels. Communicates daily with Reserve Bank cash operations representatives, armored carrier personnel, and BEP production delivery staff on currency inventories and shipments. Tracks currency inventories at Reserve Banks, tracks inventories and pending deliveries at the BEP, and arranges currency shipments from BEP to Reserve Banks. Perform assigned project tasks while developing domain expertise and may lead well-defined tasks within a project. Identifies risks and opportunities related to the currency issuance and shipment functions as part of their Project Team, Section, or Division. Prepare and deliver communications on currency issuance and shipments including presentations and recommendations to others in the Section/Division and/or to BEP, Cash Product Office (CPO), or Reserve Bank stakeholders. Some travel may be required.

Position requirements:
A bachelor’s degree in economics, finance, mathematics, accounting, information resources, or another related field and a minimum of 3 years of related experience, or a master’s degree in a related field and 1 years of related experience. Must be able to fully perform work that requires application of these competencies, in increasingly complex situations: data analysis and decision making, data collection and analysis; risk management; knowledge of relevant policy; and financial analysis. Additional knowledge/skill requirements specific to the Division or Section may be required and will be identified in the specific job posting.  

Principal Duties and Responsibilities include:  

• Perform quantitative and/or qualitative analyses in support of currency issuance, RB and BEP inventory management, carrier industry engagements, overall resiliency of currency inventories and distribution, and other FRB, Division, and Section goals and objectives 
• Prepare pro-active currency shipment plans based upon available inventories (RB and BEP), near term trends in currency demand at Reserve Banks, and available shipment capacity. Review plan with section management and pro-actively implements shipment orders (BEP to RB and Fed-to-Fed) that support that plan 
• Partner with senior staff, RB cash offices, FCS, and carriers to address shipment issues and influence strategic inventory planning 
• Manage currency issuance through the Currency Ordering System to match available inventories (RB and BEP), with near term needs of Reserve Banks, and available shipment capacity.
• Provide subject matter expertise on currency shipments in support of Board Contracting actions with the carriers working under the Board Transportation Contract 

The Currency Issuance and Operations Specialists play several roles related to their jobs. This position may be responsible for a combination of roles: 


Data Analysis and Reporting: Produce charts, graphs, and other visuals to help analyze data, including use of data analysis and presentation tools such as Tableau; Identify relevant issues and trends and draw conclusions through analysis of currency distribution, and Reserve Bank inventories; Collect data, conduct data analysis, and maintain Tableau-based dashboards for management, which assists in evaluating the ability of the annual print order to meet currency demands; Prepare section plans and report for Reserve Bank management regarding currency-related matters, such as BEP-to-Fed shipments, Fed-to-Fed shipments, distribution of low serial number and inventory aging notes, pallet returns, carrier clearances, and inventory transfers  

Logistics: Evaluate daily requests from RBs for new currency that is ordered through the Currency Ordering System; Review currency inventory levels and capacity at the BEP facilities and all RBs to assess requests for new currency; Calculate inventory levels for offices that either have requested a shipment(s) or for offices that provide currency to other offices that have requested shipments(s); Work with carriers and Reserve Banks to plan and schedule approximately 200 shipments monthly and determine the appropriate mode of transportation depending on inventory levels and current environment  
 
Supply Chain, Vendor, and Risk Management: Partner with FCS and/or RBs to understand drivers and emerging risks related to domestic and international currency demand and the impacts on currency supply and shipment strategies; Implement risk mitigation strategies such as supporting the creation of business continuity/contingency plans, training personnel and coordinating backups for currency-related responsibilities to ensure continuous coverage for the currency desk, and supporting Reserve Bank cash staff with resolving currency-related issues     

Remarks: 
The Reserve Bank Oversight and Payment Systems’ (RBOPS) Board Currency Desk is responsible for the distribution of currency from the Bureau of Engraving and Printing (BEP) to the Reserve Banks (RBs) and rebalancing currency levels between the 28 RB cash offices. The work is complex and varied and requires the selection and application of technical and detailed guidelines, with ability to conduct analyses of complex currency orders and System and BEP inventories to decide efficient allocation of print order, factors contributing to decisions about fit and new currency, effect on Reserve Bank inventories from moving fit or new currency from one office to another. The BCD is at the forefront of many of the RBs’ initiatives related to cash operations, currency distribution, and inventory management and is looking for an analyst to support a variety of tasks and projects.  

Additional Preferred Qualifications:  

• Intermediate level experience with Excel SQL and other data analytics and visualizations tools such as Tableau and Power BI.  
• Ability to use critical thinking to conceptualize, analyze, synthesize, and/or evaluate information to determine the appropriate strategies and solutions to address problems. 
• Strong consensus-building and interpersonal skills; ability to work independently or lead members of a team in an environment with diverse members. 
• Ability to formulate actionable plans based on analysis to arrive at a solution or demonstrate how data describes a scenario and a likely outcome. 
• Ability to clearly and concisely communicate the results of analyses, summarize results in white papers and create effective visualizations and presentations. 

A writing sample may be requested. 

This role is located in Washington DC and will require relocation and on-site presence via a hybrid schedule. Employees are expected to spend a minimum of 6 days per month onsite. Relocation assistance is available.