Business Units

Economic Research : System Cash Product Office : Credit and Risk Department : Legal : Human Resource
Strategy & Communications : Banking Supervision & Regulation : Cash : Law Enforcement
Accounting : Information Technology Service : Audit : Statistics : Facilities

As the largest district within the Federal Reserve System, the Federal Reserve Bank of San Francisco has employment opportunities in San Francisco, Los Angeles, Seattle, Portland, Phoenix and Salt Lake City. We offer a wide variety of positions in a number of business areas including:

Economic Research

The Research Department's uniquely skilled economists conduct research on monetary and regulatory policy, banking and financial markets, the payments system, and regional economics. They disseminate their research at professional conferences and seminars and publish their studies in a Working Papers series, in professional journals, and in the quarterly Business Review. The department also hires recent college graduates and more experienced candidates as research assistants and analysts.

Cash

The Twelfth District's Cash Division ensures that financial institutions in nine western states as well as certain American territories have sufficient supplies of currency and coin to meet the public's demand. The five cash offices in the District, to include a cash depot, accept deposits of excess and unfit currency from domestic and certain international financial institutions and fill orders, prepare currency and coin for distribution, remove counterfeit and unfit notes from circulation and destroy unfit currency. The public nature of these responsibilities requires a high level of integrity. Specific procedures have been implemented in the Cash operations that protect the integrity of the Bank, as well as protect the valuables and employees responsible for handling those valuables.

Facilities

District Facilities Management is the integration of people, process and place and is responsible for the maintenance, alterations and appearance to the buildings and grounds of the Federal Reserve Bank of San Francisco's 12th District. DFM is made up of three functions; Engineering Services, Custodial Support, and Facilities Planning/Construction. Each office and branch has DFM staff assigned on site to provide support and assistance to internal and external tenants alike.

System Cash Product Office (CPO)

In April 2001, the Federal Reserve Bank of San Francisco assumed responsibility as the national product office for Federal Reserve cash services. The Federal Reserve's mission in providing currency services is to furnish an "elastic" currency; accommodate the demand of the domestic and international public for U.S. currency; and to ensure the efficiency, integrity, and accessibility of currency services.

What we do

The CPO provides leadership and strategic direction to the Federal Reserve System's cash services business. In this capacity, the CPO guides policy and product development, process improvement, explores opportunities to be more efficient, engages customers and other key industry participants, supports Cash Services business continuity planning, and provides support for Fed coin inventory management. The CPO includes the Currency Technology Office (CTO) located at the Federal Reserve Bank of Richmond and the National Cash Automation (NCA) function with staff located at the Federal Reserve Banks of Cleveland and San Francisco. Additional CPO staff is based in Seattle and Los Angeles.

The CPO also works in partnership with the U.S. Treasury and United States Secret Service to uphold the integrity of U.S. currency, and with the U.S. Mint and the Bureau of Engraving and Printing to coordinate the supply and distribution of coin and currency to the banking industry.

Credit and Risk Department

The Credit & Risk Management (C&RM) department promotes economic stability and provides liquidity to the payment system by serving as a contingency lender to depository institutions. The primary objectives of the Credit & Risk Management department include implementing monetary policy by extending credit through the discount window, providing information and support to depository institutions that hold Federal Reserve accounts, and using account and other controls to mitigate the risk to the Federal Reserve Bank of San Francisco. The C&RM department performs the following functions:

• Credit Review - reviews and values collateral pledged by depository institutions and conducts on-site collateral exams
• Condition Monitoring - monitors the financial condition of all 12th district depository institutions and establishes controls as necessary to mitigate risk to the Reserve Bank and the payment system
• Payments Systems Risk - administers Payment System Risk policy to control daylight and overnight overdrafts
• Discount Window Operations - grants loans to depository institutions through the Discount Window
• Collateral Management System - administers the pledging of collateral to the Reserve Bank by depository institutions

Accounting

District Accounting's mission is to ensure that the Twelfth District is in compliance with the Federal Reserve System's accounting and financial management policies and regulations, while providing quality customer service to departments within the Bank and Branch offices, as well as the Board of Governors. The group also acts as a consultant to system and district-level objectives, including the preparation of the financial statements and support as an Accounting Competency Center, whenever required. The units that contribute to its goals include:

• Financial Accounting
• Account Management Services
• National Accounting Customer Support
• Travel Net Central Business Administration (CBAF)
• Cost Accounting
• Accounts Payable
• COSO

Law Enforcement

The Police Services mission is to provide a safe and secure environment for all Federal Reserve employees, its tenants, and protect the Bank's assets. Police Services fulfills its mission by:

• Emergency response and emergency medical teams
• Executive protection and armed escorts
• Comprehensive weapons, legal, and emergency response training

Strategy & Communications

The Strategy & Communications function is anchored in the Bank's vision overseeing internal communications for the Bank. The division is responsible for driving strategic planning that supports the Bank's mission and vision. This group ensures clear and consistent delivery of organizational messages to internal employees. The department also serves as a creative, full-service communications resource for the 12th District. This division produces and publishes a wide variety of employee communications including the quarterly 12L Times, an internal newsletter, the daily 12L Portal, our intranet site, the eBoards, an electronic messaging network, and streaming video and audio content on Media on Demand. Additionally, it offers broadcast quality video production and post-production services; audio-visual conference and meeting support services; and high-quality graphic layout and design for print and electronic media.

Banking Supervision and Regulation

The Federal Reserve, among its many responsibilities, is charged with responsibility to promote the safety and soundness of the banking system, foster stability in financial markets, and ensure compliance with applicable laws and regulations, as well as to encourage banking institutions to meet responsibly the financial needs of their communities. The System executes these responsibilities through the Banking Supervision and Regulation Divisions housed at each of the 12 Reserve Banks, as well as through two Divisions at the Board of Governors in Washington.

Information Technology Services

Using industry best practices and System standards, our internal IT department delivers innovative, business-oriented, high-quality, and cost-effective technology solutions to a broad base of District, System, and Treasury customers. Employees in the Information Technology area work with a variety of technologies, including Cold Fusion, ASP, Visual Basic, Lotus Notes, SQL Server, Intranet/Internet, NetWare, Windows NT, ATM, UNIX, TCP/IP, COBOL, IMS, DB2, and SAS. Assignments range from basic programming and help desk support to innovative projects, such as researching and implementing new technologies associated with distributed computing, local and wide area networks, and intranets. Strong performers are rewarded with increasingly complex assignments and promotions through several levels of analyst and engineer positions.

Legal

The Legal Division serves the legal needs of the Federal Reserve Bank of San Francisco. We actively support the Bank in its diverse responsibilities, which include supervision and regulation of domestic and foreign financial institutions in the Twelfth Federal Reserve District; distribution of currency and coin; lending through the discount window; and operation of the nation's payments mechanism. We also advise the Bank on matters such as employment, procurement, intellectual property, ethics, and conflicts of interest.

Human Resources

The job of the Human Resources staff is to recruit skilled personnel for the Bank and provide them with training and career development opportunities. The department’s staff also develops and administers the Bank’s personnel policies and its salary and benefit programs and supervises the Bank’s safety and medical programs.

Audit

Internal Audit's mission is to promote a comprehensive, effective, and efficient system of internal controls throughout the Bank. Our audit portfolio includes business areas focused on cash operations, finance, information technology, banking supervision and regulation, statistical reporting, and economic research. Working on behalf of the Board of Directors, we provide an independent and objective assessment of the adequacy and effectiveness of controls over financial reporting, effectiveness and efficiency of operations, and compliance with laws and regulations. We also provide consultative services that are relevant to internal controls. Our employees are based in San Francisco and Los Angeles, and they work with colleagues throughout the Federal Reserve System.

We seek candidates who possess undergraduate or graduate degrees in accounting, finance, information systems, or business administration. We particularly value candidates with professional certifications such as CIA, CPA, CISA, and CFE.

Statistics

The Statistics department collects and analyzes regulatory and financial report data from depository institutions (DIs) in the 12th District. These data originate from more than 70 reports that are used for myriad purposes such as determining the nation's money supply, interest rates, and DIs’ compliance with regulations.

Specifically, our department:

• Provides timely, high-quality data to our stakeholders by collecting, analyzing, and explaining changes in information reported by financial institutions and others.
• Tracks and maintains accurate Twelfth District banking structure data in the National Information Center (NIC) system for use by the FRS and the public.
• Ensures depository institutions' compliance with Regulation D - Reserve Requirements of Depository Institutions.
• Administers the Reserve Resource Center (RCC) for documenting and resolving reserve administration issues.
• Hosts the STAR Application Development Project and Central Business Administration Function.