Wholesale Payments Specialist

About the role

The Federal Reserve Financial Services division is seeking a Wholesale Payments Specialist to manage customer relationships across six Federal Reserve districts and oversee collateral custodial operations for the entire System. This role supports offline securities transfers, resolves service disruptions, and ensures compliance with collateral requirements.

Key responsibilities

• Maintain and grow relationships with financial institutions, state treasurers, and local government entities.
• Process telephone‑based securities transfers for customers lacking electronic connectivity.
• Manage over 14,000 collateral custodial relationships, monitoring and analyzing collateral values.
• Authenticate documentation, open, close, or merge funds transfer and securities accounts.
• Provide customer education and coordinate with national service sites.
• Analyze collateral to ensure compliance with Operating Circulars.
• Mitigate risk through weekly APS processing, including updates to foreign central bank services, the National Settlement System, CLS, CHIPS, and government securities handling.

Required profile

• Strong understanding of the funds and securities industry and its major participants.
• Experience in collateral management and customer relationship management within a banking or payments environment.
• Ability to analyze financial data, ensure regulatory compliance, and mitigate operational risk.
• Excellent communication skills for consulting with diverse public‑sector and financial‑institution stakeholders.

Required skills

• Fedwire
• FedACH
• FedNow
• FedLine® Solutions
• National Settlement Service (NSS)
• CLS (Continuous Linked Settlement)
• CHIPS (Clearing House Interbank Payments System)

What we offer

• Opportunity to work within a central bank mission focused on payment system resilience and innovation.
• Access to a fully integrated organization with dedicated teams for technology, operations, and product development.
• Career growth pathways within Federal Reserve Financial Services.