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Account Services Associate, (Account Relations & Services) CBIAS - Markets Group more...
Location:New York, NY
Company:Federal Reserve Bank of New York
First posted:June 03, 2017 (last updated 1 week 4 days ago)

Primary Location: NY-New York City

Full-time / Part-time: Full-time

Employee Status: Regular

Overtime Status: Exempt

Job Type: Experienced

Travel: No

Shift: Day Job


The New York Fed, on behalf of the Federal Reserve System, offers correspondent banking and custody services to central banks, monetary authorities and certain international organizations to facilitate their official financial operations.  The Central Bank and International Account Services (CBIAS) area of the New York Fed's Markets Group serves the U.S. dollar reserve management needs of its official international customers by offering payment, custodial, clearing and settlement, collateral management, and investment and liquidity services. With more than $3.0 trillion of custodial holdings, representing about half of global U.S. dollar-denominated foreign reserves, CBIAS offers financial services that directly support the Bank's role in international affairs, as well as monetary policy and financial stability. CBIAS currently runs a split operation with staff located at two locations, New York City and Richmond, Virginia.

The Account Relations and Services (ARS) staff is one of three units in the Customer Account Services (CAS) directorate within CBIAS. The CAS directorate is responsible for relationship management and account services, investment and liquidity management and customer trend analysis and market intelligence.  The CAS directorate is currently seeking an account services associate for the ARS staff.  ARS has two primary objectives:  (1) functioning as the relationship management arm for banking and custody services provided to the foreign official sector and (2) managing the administration of the CBIAS business by leading the introduction of new services and formulating service policies.


  • Deepen relationships with CBIAS customers by understanding their reserve management mandates, account usage needs and risk factors within these organizations particularly related to governance and operational risk.
  • Participate in analytical endeavors aimed at understanding customer behaviors, identifying trends and reporting on customer account activity relative to economic and financial developments that impact FX reserve holdings.
  • Respond to customer inquiries by coordinating delivery with other CBIAS staff units.
  • Contribute towards development of annual customer engagement strategy and help coordinate customer meetings.
  • Participate in efforts to streamline business processes, particularly with the introduction of new technology.
  • Participate in the development and roll-out of new services and customer publications.
  • Assist with necessary due diligence and establishment of new accounts, agreements and related documentation.
  • Support the CBIAS customer website and other external facing on-line services.
  • Perform other ad-hoc duties on an as needed basis.


  • Bachelors' Degree in business, economics, policy or a related discipline. Masters' Degree a plus
  • Three to five years of relevant work experience, including knowledge of economic and market factors that shape foreign currency reserve management decisions
  • High aptitude for customer service responsibilities with strong attention to detail, and ability to anticipate and resolve issues as they arise.
  • Strong analytical, critical thinking skills with proven ability to recommend ways to enhance customer relations, account management, operational efficiencies, contingency preparedness, and analytical work.
  • Excellent written and verbal communication skills; ability to extract key points while providing concise, articulate, and insightful analysis and recommendations in written and verbal form.
  • Strong interpersonal skills and ability to interact and collaborate effectively with team members, peers (operational, technical and analytical), senior management, and external parties. 
  • Demonstrated technical skills including the ability to prepare data using databases and MS Office Suite for written reports with minimal supervision or editing.  Knowledge of Crystal Reports, MS Access, and/or SQL a strong plus;
  • Strong sense of initiative and intellectual curiosity.
  • Strong Interest in international affairs.

This position requires access to Federal Open Market Committee Data, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.


Furthermore, this position has additional screening requirements due to the information accessed while performing the job.  These additional screenings would be initiated at the time of offer acceptance and can take a couple of months to be completed.  You can begin work before the screening is completed; however, continued employment is contingent on acceptable screening results.  The screening areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.

The Federal Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

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