Job Description
Policy & Market Analysis Associate - Money Markets (Chicago-based)
Federal Reserve Bank of New York
Chicago, IL
Full-time, Part-time
Policy & Market Analysis Associate - Money Markets (Chicago-based)-264084
Federal Reserve Bank of New York
Primary Location IL-Chicago
Full-time / Part-time Full-time
Employee Status Regular
Overtime Status Exempt
Job Type Experienced
Travel No
Shift Day Job
Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic—all combined with a passion for public service.
What we do:
The Markets Group at the Federal Reserve Bank of New York (FRBNY) implements monetary and foreign exchange policy, provides payments and custody services to foreign central banks, and auctions and issues Treasury debt as the fiscal agent for the U.S. Treasury. As part of these responsibilities, the Market Operations Monitoring and Analysis (MOMA) function within the Markets Group executes transactions in the open market and conducts detailed analysis of financial market developments in support of the Federal Reserve’s monetary policy and financial stability decision-making process.
As a member of the Money Markets (MnM) team, you will be responsible for monitoring and analyzing developments across U.S. dollar money markets, conducting open market operations in the repo market as part of the implementation of monetary policy, and contributing to the development of reference interest rates, such as the effective federal funds rate and secured overnight financing rate.
Your role as a Policy & Market Analysis Associate:
Develop expertise of U.S. dollar money markets, specifically secured funding markets (repurchase agreements). Other relevant money markets includes federal funds, Eurodollar deposits, commercial paper, certificates of deposit and short-term interest rate derivatives
Accurately execute temporary open market operations and reference rate production in a well-controlled, efficient manner, consistent with the FRBNY's and Group’s risk management policies and procedures
Contribute to the development of technology and operational processes that support resilient and robust open market operations in the repo market
Create and contribute to timely, in-depth quantitative and qualitative analysis of money markets to be communicated to senior management of the FRBNY and across the Federal Reserve System
Coordinate with other staff within MOMA and elsewhere in the FRBNY on analysis of developments in money markets, including the relationship between money markets and broader financial markets
Conduct regular outreach to market participants to stay abreast of developments in money markets
What we are looking for:
At least 3 years of relevant work experience with a graduate degree in business, finance, economics, public policy or related field. At least 5 years of relevant work experience without such a graduate degree.
Expertise in financial markets with a demonstrated interest in monetary policy
Experience providing concise, articulate and insightful analysis in written and verbal form
Experience managing operational programs or projects a plus
Experience with utilizing datasets to inform decision-making. Prior experience using programming languages for data analysis (such as SQL, VBA, R or Python) for data analysis a plus
Our Benefits:
Our organization offers benefits that are the best fit for you at every stage of your career:
Fully paid Pension plan and 401k with Generous Match
Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
Subsidized Public Transportation Program
Tuition Assistance Program
Onsite Fitness & Wellness Center
Flexible Work Arrangements
And more which you can find here
Please note that the position requires access to confidential supervisory information and/or FOMC information, 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, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.
In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.
The Federal Reserve 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.
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.