Work for Us: Departments

The thought of economic and monetary policies may lead you to think of the Federal Reserve as solely a banking organization. Quite the contrary. As you can see, our Departments include a broad range of disciplines.


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

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The Auditing Department performs independent appraisal activity established to review and evaluate operations and procedures – as well as to report findings and recommendations to the Board of Directors, Board of Governors, and Bank management. The 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, this department provides 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. Candidates who possess undergraduate or graduate degrees in accounting, finance, information systems, or business administration or have professional certifications such as CIA, CPA, CISA, and CFE are highly encouraged to apply.

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Banking Supervision and Regulation

BS&R supervises and regulates state-chartered member banks (SMBs) as well as bank holding companies (BHCs) and savings and loan holding companies (SLHCs) in the Twelfth Federal Reserve District, which includes Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington. BS&R also supervises the overseas and international operations of District banks, BHCs, and SLHCs as well as branches, agencies, and nonbank operations of foreign banks located in the District. We work with other federal and state authorities to promote safety and soundness in the operation of the financial industry and fair and equitable treatment of consumers in their financial transactions. We do this through processing applications, conducting on-site examinations and off-site monitoring, and taking enforcement actions, when warranted.

The skills that you learn in this job are transferable to anything you do in life. – Fred, BS&R

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Cash Product Office

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.

Cash Services

Administrative and clerical duties are performed in Cash Administration, which requires a strong customer focus. Among other responsibilities, the administrative staff provides customer service to financial institutions by arranging deposits and orders. They also follow up by notifying Banks of balancing discrepancies. Among the many duties performed by Cash Administration, they maintain records reflecting the balances of valuables in custody, received, and delivered.

Credit and Risk Management

The Credit and 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

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District Facilities Management

DFM is the integration of people, process, and place — and is responsible for the appearance, maintenance, and alterations to the buildings and grounds. DFM is comprised of three functions:

  • Building Custodial Support – Provides interior and exterior janitorial services, primarily on the swing shift, but also with a small day shift staff.
  • Building Engineering Services – Works behind the scenes to maintain the equipment that keeps the building running and our environment comfortable. Building Engineering Services also corrects problems such as water leaks, power outages, clogged drains, light bulb replacements, office machine repairs, just to name a few.
  • Facilities Planning – Interprets business goals for facility plans; designs and builds workspace to support Federal Reserve goals; evaluates and assesses work environment and products; and administers the Federal Reserve Art Program.

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Economic Research

The Economic Research Department supports Federal Reserve policy and public outreach functions by conducting research on monetary policy, banking, financial markets, and the regional economy. The Department also specializes in economic issues in Pacific Basin countries; works with Public Information to produce publications for the public on the economy; and partners with BS&R to produce studies to determine whether bank mergers will produce negative effects, such as a lack of banking choices for the affected area’s residents.

The most rewarding part of my job is being able to work with a team of people who are really, really smart. – Fernanda, Economic Research

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Learn more about our economists

Executive Offices

The Executive Office ensures that the various functions of the Federal Reserve are coordinated in a manner that effectively contributes to the mission, functions, and goals of the Federal Reserve System as a whole. The mission of the Federal Reserve Bank of San Francisco is to serve the public, the United States Treasury, and the financial community by contributing to the development of sound regulatory and monetary policy, ensuring the integrity of our country’s financial and payments systems, and furnishing financial services that meet the fiscal and payments needs of the nation.

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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.

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Information Technology Services

ITS provides excellent, cost-effective service to its customers by offering reliable and stable operations, outstanding business support, and active exploration and integration of new technologies. To help maintain this technical leadership, ITS features the following areas of focus:

  • Product Support – Maintains and improves the accuracy, reliability, security, and availability of automated processing systems.
  • Business Support – Reaches out to customers to develop partnerships using technology to address business needs.
  • Research and Development – Researches the current technology environment to investigate promising technologies.

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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.

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Police Services

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

They gave me opportunities to move in different directions: academy instructor, quartermaster, and from there I just kept going. – Dion, Police Services

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Learn more about the Police Academy

Public Information

Public Information and Communicating Arts is charged to increase economic knowledge and understanding of the purposes and functions of the Federal Reserve among academia, business communities, and the general public. To accomplish this, the Department develops strong relationships with local and national media, as well as conducts community outreach programs. In addition, the Department fosters the Federal Reserve’s corporate communications program for internal and external audiences.


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.

Our location, right by the Bay, at the heart of the Financial District–it’s just a great place to be. – Chris, Statistics

Strategy and Communications

The Strategy and 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.

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