Federal Reserve Bank of New York

Capital Markets Trading Assoc Analyst (Chicago Based)

New York

FULL TIME

October 16, 2024

Company
Federal Reserve Bank of New York
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 is central to the formation and implementation of monetary policy for the Federal Reserve System. The Group consists of multiple departments that fulfill a range of responsibilities including performing open market operations, monitoring and analyzing financial market developments, and managing foreign customer accounts.
Through its analytical and operational areas, the Markets Group:

  • Manage the size and composition of the Federal Reserve System's balance sheet consistent with the directives and the authorization of the Federal Open Market Committee (FOMC);
  • Monitor and analyze global financial markets to inform the formulation and implementation of monetary and financial stability policy. Update key stakeholders and policymakers within the Federal Reserve System, including regular briefings of the FOMC;
  • Implement domestic open market and foreign currency operations on behalf of the FOMC
  • Executes lender of last resort operations for the Second District and collateral valuation services to the Federal Reserve System;
  • Provide infrastructure and financial services for foreign and international monetary authorities;
  • Provide capital market-related fiscal agency services to the U.S. Treasury; and
  • Produce reference rates.
Program Description:
The Rotational Analyst (RA) program is an entry-level analyst program designed to offer a learning experience through the completion of three, one-year long rotations. On each rotation, RAs will gain exposure to the core operational and analytical activities of the directorate, while gaining a deeper understanding of the directorate's work and how it contributes to the larger goals of the Markets Group.
During the program, RAs will develop a understanding of the Markets Group; hone their analytical skills through on-the-job and formal training; and develop an understanding of the culture of the Markets Group and Federal Reserve System. RAs that demonstrate exceptional performance may apply for a permanent position in the Markets Group/Bank following the completion of two years in the program.
RAs may experience working on staff units within any of the following directorates: Capital Markets, Central Bank and International Account Services, Cross-Market Monitoring and Analysis, Discount Window and Collateral Valuation, International Markets, Money Markets, Treasury Auctions, or Treasury Markets.
Analytical Support
  • Perform preliminary research and help prepare data relating to market monitoring or market issues
  • Source, manipulate, and visually represent data (i.e. charts, tables, graphs) and other supporting documentation to be used in the research and market analysis conducted by the Group
  • Support senior staff with economic and financial data analysis
  • Develop efficient procedures for the data preparation cycles (e.g. daily, weekly & monthly)

Operational Support
  • Help perform the Group’s funds, securities, trading and settlement activities, including the preparation and maintenance of preliminary internal reports, data entry of operations results, discrepancy resolution, and testing the implementation of new products
  • Support development, review, and maintenance of procedures designed to increase the efficiency of the Group’s operational and analytical activities

What we are looking for:
  • A cover letter detailing your interest in the position and unofficial transcripts are required as a part of your submission
  • Undergraduate degree in economics, business, finance, mathematics, public policy, statistics, or a related field
  • Academic exposure, interest, or experience in economics, financial markets, and US monetary policy
  • Demonstrated analytical skills and experience managing/manipulating large datasets using analytical tools (e.g. Excel, SQL, VBA)
  • Familiarity with data visualization tools (e.g. Excel, Tableau, Alteryx) and programming experience (e.g. Python, R, Mat Lab) are a plus, but not required
  • Manage responsibilities across simultaneous assignments under tight deadlines
  • You must be legally authorized to work in the United States on a multi-year basis for other than practical training purposes
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
To Apply:
Please include a resume and cover letter.
Salary: $80,500 / year
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)
No
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.
Always verify and apply to jobs on Federal Reserve System Careers (
https://rb.wd5.myworkdayjobs.com/FRS
) or through verified Federal Reserve Bank social media channels.
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