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Treasury & Mortgage Markets Associate

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Accounting & Finance
Multiple locations
Posted on Thursday, June 20, 2024

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 Markets Group of the Federal Reserve Bank of New York (FRBNY) implements monetary policy on behalf of the Federal Reserve System, executes lender of last resort operations for depository institutions in the Second District, provides payments and custody services to foreign central banks, and acts as fiscal agent for the U.S. Treasury.

As part of these responsibilities, the mission of the trading desk in the Markets Group is to:

  • Implement domestic open market and foreign currency operations in a manner that is consistent with the FOMC authorization and directives.

  • Monitor and analyze global financial markets to inform the formulation and implementation of monetary and fiscal stability policy.

  • Produce New York Fed Reference Rates.

  • Provide capital markets-related fiscal agency and other services to the U.S. Treasury.

  • Transact on behalf of foreign and international monetary authorities.

The Treasury and Mortgage Markets (TMM) Directorate, within the Domestic and International Markets Function, monitors and analyzes market developments and executes transactions in the U.S. Treasury market and the agency MBS market. It transacts in these markets to fulfill monetary policy directives through open market operations and other essential operations such as System Open Market Account (SOMA) securities lending and trade execution for Central Bank and International Account Services (CBIAS) customers. It also conducts extensive analytical work on fixed-income markets, with a focus on the yield curve, interest rate volatility, inflation markets, issue-specific financing markets, liquidity, and market structure.

In addition, the TMM Directorate supports the U.S. Treasury Department on debt management policy and provides Treasury market intelligence to the Inter-Agency Working Group on Treasury Market Surveillance (IAWG), which consists of the FRBNY, U.S. Treasury Department, Federal Reserve Board of Governors, Securities and Exchange Commission, and Commodity Futures Trading Commission. The TMM Directorate also promotes industry best practices through the Treasury Market Practices Group (TMPG) and manages numerous other relationships to gather information and further the Federal Reserve's goals.

Your role as a Treasury & Mortgage Markets Associate:

  • Plan and execute operations in Treasury securities and agency mortgage-backed securities (MBS) for the Federal Reserve’s System Open Market Account (SOMA), execute Treasury trades on behalf of Foreign and International Monetary Authority (FIMA) accounts and participate in the initiation and execution of Treasury buyback operations, with a focus on ensuring these activities are properly controlled and carried out in accordance with procedures.

  • Keep up-to-date on themes in Treasury and agency MBS markets and provide summaries as necessary; Maintain and improve a range of datasets and tools for operations, analysis, and public reporting to support the market monitoring process.

  • Develop an understanding of market data sources that are important to operations and analysis. Seek ways to improve the efficient integration of these sources into the daily work of the team.

  • Assist managers and senior staff on the team with projects related to both operations and market analysis focusing on data analysis and manipulation.

What we are looking for:

  • Experience with Microsoft excel (can perform complex functions) and Microsoft Access.

  • Knowledge of one or more of the following tools a plus: Tableau, Python, SQL, VBA, MATLAB, R, GitHub, or OneTick.

  • Demonstrated experience in managing and manipulating complex data sets.

  • Familiarity with financial markets and monetary policy including the understanding of the basic roles of the Federal Reserve System.

Salary Range:

NY: $116500 - $158500 / year

Chicago: $102500 - $139450 / 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

  • And more

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.

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, pregnancy, or military service.

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.

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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