Manager I / II - SRC Finance and Operations

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Accounting & Finance, Operations
Philadelphia, PA, USA
Posted on Thursday, August 31, 2023


Federal Reserve Bank of PhiladelphiaThe Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

This position is responsible for providing valuable and effective financial and administrative management for the Supervision, Regulation & Credit department. Primary responsibilities include oversight of the departments staffing, direct expense, and capital budgets, resource management, and general department operations. The finance and operations manager is expected to be an active and engaged member of the department and bank community while displaying the competencies expected of a leader and mentor for the team.

What You Will Do:

Financial management, Procurement, and Reporting

  • Responsible for the development of the department’s staffing, direct expense, and capital budgets including the monthly forecast and annual budget processes.
  • Manage monthly financial operations including accounts payable and month-end accruals.
  • Adhere to and provide support for all Board Supervision & Regulation financial management requests and processes.
  • Produce monthly and quarterly value-added reporting to department and Bank senior management to include expense and staffing performance against targets.
  • With a focus on continuous improvement, utilize dashboards and other emerging financial reporting tools to enhance the quality and efficacy of reports.
  • Oversight of the department’s procurement efforts including the acquisition of $14 million in data purchases annually. Procurement responsibilities also include vendor and contract management in partnership with the Bank’s centralized Procurement function.

Resource Management

  • Maintain master department headcount information including the department organization structure as well as the tracking of terminations, job requisitions, and replacement staff.
  • Act as the primary liaison between department leaders and human resources staffing and compensation functions.
  • Utilize metrics and available resource prioritization tools to provide senior leaders up-to-date data on resource utilization and availability.
  • Manage the department’s annual salary administration & planning processes.
  • In partnership with Human Resources, manage the terminations, organizational reporting, and job code changes. Resolves payroll, timekeeping and other administrative issues affecting department staff.
  • Oversee onboarding, offboarding, time reporting, training, and administrative support for all SRC staff. Train new staff or staff in new roles on the administrative and operational processes within SRC.

Department Operations

  • Manages interactions with the IT department related to software acquisition, telephone, cell, conference room equipment, and laptop purchases.
  • Expeditiously manage and resolve daily Bank facilities issues, manage all SRC staff facilities movement, develop plans to optimize the use of existing and new space in SRC, and develop renovation plans as needed. Lead interactions for large purchases with the procurement function.
  • Manage department equipment, existing and new requests.
  • Coordinate activities with other Bank departments to accomplish goals.
  • Responsible for the control tests and reviews required to ensure functions under the responsibility of the finance and operations manager are being followed as designed (electronic and physical access reviews, desk audits, application testing, etc.). Enhance and develop new controls as necessary.
  • Serve as department representative for business continuity planning, risk assessment, records management, audit coordination, and other Bank-wide coordination efforts, as required.
  • Participate on System workgroups as required.
  • Exercises managerial authority concerning staffing, training, performance appraisals and discipline for direct reports.
  • Provides appropriate guidance to staff and resolves moderate to complex problems concerning personnel administration.
  • Provides development opportunities, direction and leadership to direct reports.
  • Reviews and evaluates work responsibilities and provides feedback and recommendations.


1 – Supervisor

4 – Individual contributors

What You Have:

For the Manager II Position:

Education and Experience:

  • Bachelor's degree in finance, business management, or a related field or equivalent related experience.
  • Eight years or more of formal people leadership experience required.

Knowledge and Skills:

  • Advanced understanding of financial management and cost accounting principles.
  • Ability to manage and prioritize multiple assignments.

Candidates with less experience or qualifications will be considered for the Manager I position.

Other Requirements:

  • Must be a U.S. Citizen, U.S. National, or hold a permanent resident/green card with intent to become a U.S. Citizen.

The salary grade for this position is: 16/17.

We offer a great benefits package that features:

  • Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
  • 401k/Thrift Plan with generous employer match
  • Employer-funded Pension Plan
  • Paid Vacation/Sick Time & Holidays
  • Monthly $100 Commuter Allowance
  • Flexible Spending Accounts and Healthcare Spending Accounts
  • Flexible Work Schedule available in most departments
  • Life Insurance and Long Term Disability Insurance
  • Tuition Reimbursement (undergraduate and graduate)
  • Parental Leave
  • Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
  • Onsite Cafeteria & Coffee Shop
  • Additional Convenience Benefits, Discounts and More…

Additional Information:

  • The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
  • We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.
  • We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.
  • All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the Recruiter for this posting, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
  • Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.
  • All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
  • All non-CSI/FOMC access ee's: Certain eligibility rules apply. You will provide work authorization to prove their eligibility to work in the United States.
  • The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
  • This is not a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.
  • Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category

Bank Examination

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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