Reference Rates Sr Associate (Chicago/New York) Market Operations Monitoring And Analysis (Moma) - Markets Group

Federal Reserve Bank Chicago , IL 60602

Posted 3 months ago

At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed.

What we do:

The Federal Reserve Bank of New York (FRBNY) serves as the administrator and producer of key benchmark reference rates, including the effective federal funds rate (EFFR) and secured overnight financing rate (SOFR), that provide insight into money market dynamics and transparency to the market. The Markets Group at the FRBNY implements monetary policy on behalf of the Federal Reserve System, acts as fiscal agent for the U.S. Treasury, and is

responsible for production and oversight of the benchmark reference rates.

The Reference Rates team, within the Money Markets (MnM) Directorate, is responsible for the development, design, production, oversight and governance of the benchmark reference rates administered by the FRBNY. Reference Rates works closely with the broader MnM team, which is responsible for implementation of monetary policy through temporary open market operations, as well as monitoring and analysis of domestic money markets to provide insight that informs the formulation and implementation of monetary and financial stability policy.

The Reference Rates team is seeking an experienced candidate who will contribute to initiatives that will maintain and improve the relevance, robustness, and resilience of money market reference rates produced by the FRBNY. Candidates will also contribute to the broader work of the Money Markets Directorate, including execution of open market operations and related analysis.

Your role as Reference Rates Associate/Senior Associate:

  • Working within a cross functional team to accomplish a number of strategic projects that will improve the robustness, resilience and relevance of money market reference rates

  • Providing coordination for governance and oversight of the benchmark rates, following best practices for financial benchmarks where appropriate

  • Build and maintain relationships with Markets and FRBNY's control functions, including risk and audit entities

  • Overseeing the development of technology and operational processes that support implementation of robust and controlled benchmark calculations

  • Communicating with senior stakeholders about project progress and key policy issues

  • Accurately executing temporary open market operations and reference rate production in a well-controlled, efficient and effective manner, consistent with the FRBNY's and Group's risk management policies and procedures

  • Contributing to the broader work of the Money Markets Directorate, including analysis of open market operations and developing expertise in the role of money markets in the implementation of monetary policy, including the impact of the normalization of the Federal Reserve's balance sheet on money markets

  • Providing mentorship and coaching to staff as well as leadership in the timely and policy-relevant analysis of reference rate and money market developments

What we are looking for:

  • Graduate degree in economics, public policy, finance or a related field and/or 5-7 years of relevant work experience

  • Demonstrated ability to effectively lead projects and/or processes, while balancing competing priorities on tight timeframes

  • Strong interpersonal skills and ability to interact and collaborate effectively with team members, peers, senior management, and external parties

  • Strong analytical and coordination skills, with proven ability to work collaboratively across staffs

  • Strong written and oral communication skills that will enable the candidate to convey their views to senior management in a clear and concise manner

  • Experience with programming languages (including SQL, VBA, R and Python) and working with large data sets a plus

  • For staff based in Chicago, periodic travel to the New York office expected. For staff based in New York, period travel to the Chicago office expected.

Resume and Cover Letter are required.

This position requires access to 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, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.

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.

Why the Fed:

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'll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It's a challenge that demands the skills of a financial service professional and the intellectual curiosity of an academicall combined with a passion for public service.

The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank's diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching Out MBA. Click here to learn more.


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Reference Rates Sr Associate (Chicago/New York) Market Operations Monitoring And Analysis (Moma) Markets Group

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VIEW JOBS 6/23/2019 12:00:00 AM 2019-09-21T00:00 At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed. What we do: The Federal Reserve Bank of New York (FRBNY) serves as the administrator and producer of key benchmark reference rates, including the effective federal funds rate (EFFR) and secured overnight financing rate (SOFR), that provide insight into money market dynamics and transparency to the market. The Markets Group at the FRBNY implements monetary policy on behalf of the Federal Reserve System, acts as fiscal agent for the U.S. Treasury, and is responsible for production and oversight of the benchmark reference rates. The Reference Rates team, within the Money Markets (MnM) Directorate, is responsible for the development, design, production, oversight and governance of the benchmark reference rates administered by the FRBNY. Reference Rates works closely with the broader MnM team, which is responsible for implementation of monetary policy through temporary open market operations, as well as monitoring and analysis of domestic money markets to provide insight that informs the formulation and implementation of monetary and financial stability policy. The Reference Rates team is seeking an experienced candidate who will contribute to initiatives that will maintain and improve the relevance, robustness, and resilience of money market reference rates produced by the FRBNY. Candidates will also contribute to the broader work of the Money Markets Directorate, including execution of open market operations and related analysis. Your role as Reference Rates Associate/Senior Associate: * Working within a cross functional team to accomplish a number of strategic projects that will improve the robustness, resilience and relevance of money market reference rates * Providing coordination for governance and oversight of the benchmark rates, following best practices for financial benchmarks where appropriate * Build and maintain relationships with Markets and FRBNY's control functions, including risk and audit entities * Overseeing the development of technology and operational processes that support implementation of robust and controlled benchmark calculations * Communicating with senior stakeholders about project progress and key policy issues * Accurately executing temporary open market operations and reference rate production in a well-controlled, efficient and effective manner, consistent with the FRBNY's and Group's risk management policies and procedures * Contributing to the broader work of the Money Markets Directorate, including analysis of open market operations and developing expertise in the role of money markets in the implementation of monetary policy, including the impact of the normalization of the Federal Reserve's balance sheet on money markets * Providing mentorship and coaching to staff as well as leadership in the timely and policy-relevant analysis of reference rate and money market developments What we are looking for: * Graduate degree in economics, public policy, finance or a related field and/or 5-7 years of relevant work experience * Demonstrated ability to effectively lead projects and/or processes, while balancing competing priorities on tight timeframes * Strong interpersonal skills and ability to interact and collaborate effectively with team members, peers, senior management, and external parties * Strong analytical and coordination skills, with proven ability to work collaboratively across staffs * Strong written and oral communication skills that will enable the candidate to convey their views to senior management in a clear and concise manner * Experience with programming languages (including SQL, VBA, R and Python) and working with large data sets a plus * For staff based in Chicago, periodic travel to the New York office expected. For staff based in New York, period travel to the Chicago office expected. Resume and Cover Letter are required. This position requires access to 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, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so. 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. Why the Fed: 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'll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It's a challenge that demands the skills of a financial service professional and the intellectual curiosity of an academic—all combined with a passion for public service. The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank's diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching Out MBA. Click here to learn more. Federal Reserve Bank Chicago IL

Reference Rates Sr Associate (Chicago/New York) Market Operations Monitoring And Analysis (Moma) - Markets Group

Federal Reserve Bank