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Financial Markets Data Specialist

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

IT, Accounting & Finance
New York, NY, USA
Posted on Thursday, August 17, 2023

Company

Federal Reserve Bank of New YorkWorking 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.

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

What we do:

The Supervision Group of the Federal Reserve Bank of New York (FRBNY) supervises financial institutions located in the Second District. The objectives of Supervision are to:

  • Evaluate and promote the overall safety and soundness of supervised institutions

  • Ensure supervised institutions’ compliance with relevant laws and regulations

  • Facilitate the stability of the financial system of the United States

  • Support the growth and stability of the U.S. economy.

Supervision is carried out through a combination of methods, including on-site and off-site examinations involving staff dedicated to the supervision of an individual firm and other professionals focused on analytical, policy, and risk matters. Supervision is coordinated with other U.S. agencies.

The New York Stress Testing (NYST) Department within the Supervisory Policy and Strategy function is a key contributor to the Federal Reserve System’s annual supervisory stress test, which assesses whether bank holding companies and U.S. intermediate holding companies with $100 billion or more in total consolidated assets are sufficiently capitalized to absorb losses during a hypothetical stress scenario. NYST leads scenario design for the global market shock (GMS) component of the stress test, which is applied to firms with significant trading or custodial operations. In addition, NYST develops, executes, and performs ongoing monitoring of models that estimate GMS related losses and firms’ overall post-stress capital levels.

Your role as Financial Markets Data Specialist:

As a Financial Markets Data Specialist, you will develop, maintain, and enhance the financial market data platform that extracts and stores time series data in support of the Federal Reserve’s annual stress test. You will serve as a subject matter expert in financial market data sets from multiple data vendors, researching, troubleshooting, and resolving a variety of technical and content related issues. You will engage with a variety of internal and external stakeholders, including data vendors, Data Librarians and Procurement staff regarding data licensing issues.

You will report to the Risk Modeling and Analytics Program Lead and collaborate with a dedicated group of programmers and quants to achieve objectives. The ideal candidate will be comfortable with complex and dynamic systems/processes, have a strong attention to detail, and curiosity to learn different technologies and systems.

Core Responsibilities include:

  • Troubleshooting and resolving issues with market data feeds and the related technological infrastructure.

  • Reviewing market data quality and resolving identified issues with data vendors and/or stress testing team members.

  • Working with the stress testing team to research new data sources and implement related data feeds as needed.

  • Identifying and implementing improvements to the market data processing.

  • Producing high-quality deliverables on a timely basis, including development and maintenance of detailed documentation that would enable a third party to understand and reproduce completed work.

What we are looking for:

  • Demonstrated experience in the following:

    • Perl or Python, and Excel VBA;

    • Building shell scripts in Linux;

    • Creating and maintaining batched processes on Windows and Linux;

    • Relational databases, e.g. developing stored procedures and functions.

  • Familiarity with the following:

    • Time series databases e.g., FAME, Asset Control, LIM, Kdb, TimescaleDB, OneTick;

    • Global financial markets and financial market data;

    • Working with market data vendors, e.g. Bloomberg, Reuters, Markit, ICE, Risk Metrics, MSCI

    • Building financial market data feeds including writing interfaces, parsing data, and storing results in a data container.

  • Experience with the following a plus:

    • R or Java;

    • Market/counterparty credit risk.

  • Ability to collaborate effectively in cross functional, geographically dispersed teams.

Salary Range: $163800 - $196600 / year

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.

Our Touchstone BehaviorsCommunicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.

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

  • And more

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 permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.

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.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Analytical

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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