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Market Operations and Analysis Specialist

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Operations
Multiple locations
Posted on Saturday, November 18, 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 New York Fed, on behalf of the Federal Reserve System, offers correspondent banking and custody services to foreign and international monetary authorities (FIMA) and the System Open Market Account (SOMA) to facilitate their official financial operations, as well as supporting financial stability in the U.S. and abroad. The Central Bank and International Account Services (CBIAS) area of the New York Fed's Markets Group serves the U.S. dollar reserve management needs of its official customers by offering payments, custodial, clearing and settlement, collateral management, and investment and liquidity services. CBIAS has a long history of providing safe and efficient banking services to its customer base by fulfilling a range of responsibilities to help manage over $7 trillion for over 550 accounts across 250 FIMA customers and SOMA with transaction volume presently exceeding $300 billion per day. CBIAS currently runs a split operation with staff located at two locations, New York City and Richmond, Virginia.

The Collateral Administration and Analysis (CAA) staff is one of four staff units within the Settlement, Clearing and Collateral Management (SCCM) Directorate in CBIAS. The SCCM Directorate is responsible for executing all post-trade support services for SOMA market operations and FIMA accounts activities. The CAA staff is responsible for executing collateral-related operational and analytical activities as they relate to support of the SOMA portfolio operations. CAA’s other functions include managing relationships with tri-party agents and middle office service providers, managing risk across business activities, supporting Desk and Group related projects.

The CAA staff is looking for a Market Operations and Analysis Specialist to provide management support to a team of professional analysts charged with conducting the daily operations and associated projects. This position offers a unique blend of business analysis, process re‐engineering and collaboration with business and technical support areas to develop and incorporate solutions to improve the execution of business processes.

Your role as Market Operations and Analysis Specialist:

  • Lead the team and manage the staff's portfolio of work ‐ managing the inventory and allocation of collateral for SOMA operations, calculating daily margining, assessing pledged assets for sufficiency and eligibility, and executing MBS related activities.

  • Guide staff resources to problem solve business issues, address inquiries/needs of the Open Market Operations Desk, CBIAS, tri‐party agents, counterparties and manage analytical activities.

  • Manages projects that relate to the team's collateral management functions and middle office responsibilities

  • Contribute to the management of staff by providing feedback to analysts, contributing to team goals setting and performance appraisals, coordinating staff training and coverage.

  • Work with analysts to improve the efficiency of CAA's business lines to manage risk.

  • Contribute to the management of relationships with counterparties, external parties, vendors, and tri‐party agents as they relate to collateral related business activities.

  • Identify process and control improvements to maximize the efficiency of CAA's business lines and manage risk.

What we are looking for:

  • Strong experience in Economics, Finance, Public Policy, Collateral Management

  • Advanced knowledge of capital markets

  • Strong experience in data management and analysis; querying, managing, and manipulating data using Excel, Crystal, or Access

  • Performs work under limited supervision; plans and arranges short- and long-term work

  • Flexibility to travel between New York and Richmond, VA site on periodic basis

Salary Range

New York: $155400 - $192300 / year

Richmond: $129000 - $159700 / 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 Behaviors—Communicate 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

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 New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.

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

Markets

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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