Federal Reserve Bank Revenue Collections Management (RCM) Analyst in Cleveland, Ohio
Revenue Collection Management Analyst
Treasury Services partners and supports the U.S. Treasury’s mission to expand the use of digital transactions across the Federal Government. The group provides strategic-level leadership, industry knowledge and innovative thinking to assist with Treasury’s end goal of all-electronic payments and disbursements.
As a part of the Federal Reserve Bank of Cleveland’s Treasury Services team, we embrace the challenge of delivering exceptional work to benefit the Treasury, our organization, federal agencies, businesses, financial institutions and individuals.
- To be considered for this position, you must be a U.S. citizen.
Provide high-level analysis of daily payments activity generated by the Treasury Revenue Collection Management division programs and applications managed by the Federal Reserve Bank of Cleveland. Oversee accounting, reconciliation, complex research and exceptions including check adjustments, returns and other financial payment activity related tasks from all Treasury Services Revenue Collection payments programs. Maintain efficient, accurate settlement of transactions collected by Government Agencies presented for payment. Use multiple Digital Wallets, FedACH, and Check21 systems to receiving depository financial institutions. Leverage payments knowledge to provide front line support to customers residing at multiple government agencies, commercial banks, and Treasury. Provide insight to the Project Management team working with senior level staff to help establish requirements for future program enhancements.
Monitor for successful acceptance of origination (forward) and returns payment files submitted by multiple source systems and managing the flow and status of transactions within the Debit Gateway application resulting in settlement to the Treasury General Account.
Review payment exceptions generated on incoming payments because of anomalies within transaction data such as missing or incomplete financial account data (Check information), potential duplicate presentment issues and other daily payment related exceptions.
Research and take all appropriate accounting action on daily Check Adjustments requiring thorough analysis of the request and situation to ensure appropriate handling takes place allowing for timely settlement.
Ensure all files are received and balanced internally and reconciled to the source system ensuring accounting entries are manually entered as well as any other accounting functions necessary are completed.
Act as Central Business Administrative Function for the Direct Voucher System, Treasury Cash Management System, and Treasury Check Information System ensuring that all Federal Reserve users receive basic support on accounting voucher and application issues and working with senior level staff on more complex issues.
Follow vaguely or undefined procedures under moderate guidance allowing for accurate settlement of Government collection payments and money movement within Fiscal Service occurs.
Manage daily payment activity ensuring that priority is given to important issues such as those related to settlement.
Ensure technical resources are handed off necessary issues resulting in resolution of application related problems.
Coordinate with senior level staff to contact source system (commercial bank, government agency, etc.) on any issues pertaining to payments ensuring that appropriate notice is given allowing same day resolution of payment file issues to take place.
Develop in-depth knowledge of payments industry and best practices including NACHA and regulatory Check processing guidelines.
Decisions are made consistently and with analysis and can affect the department, US Treasury, and the citizens of the US.
Perform other duties as assigned or requested.
Follow the Banks attendance policies through regular and prompt attendance.
Education and Experience
Bachelor’s Degree and 3 years professional work experience or
Associate`s Degree and 5 years of professional work experience
AAP or NCP designation preferred
Knowledge and Skills
Communication (verbal and written)
Perform more complex and one-time tasks with some guidance
Capable of identifying and/or recommending continuous improvement opportunities within the team
Lead related projects with limited guidance
Understanding of Internet and computer technology
Train Electronic Payment Processors in at least one Operations Business Line.
Microsoft Office Suite
Tableau or other Business Intelligence tools
Physical Demands and General Working Conditions
- Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Employees may be required to travel by car/air.
/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./
Organization: *Federal Reserve Bank of Cleveland
Title: Revenue Collections Management (RCM) Analyst
Requisition ID: 266762