Capital Markets Trading Analyst

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.

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. The Markets Group is also responsible for the development, production, and governance of the benchmark reference rates administered by the FRBNY, including the Effective Federal Funds Rate (EFFR) and Secured Overnight Financing Rate (SOFR).

There are a number of open Analyst positions in the Markets Group, including on the Mortgage Markets, Money Markets, and Reference Rates teams. You will report to an Associate Director on one of these teams and have opportunities to work collaboratively with a diverse range of staff across the Markets Group.

The Mortgage Markets team monitors and analyzes developments across mortgage markets to inform the formulation and implementation of monetary and financial stability policy. In addition, the team conducts agency mortgage-backed security (MBS) operations based on the FOMC’s directives.

The Money Markets and Reference Rates teams monitor and analyze developments across U.S. dollar money markets and trends in bank reserves management. The Money Markets team focuses on the implementation of open market operations in the repo market, tracking developments across U.S. dollar money markets in this context. The Reference Rates team focuses on the administration of the FRBNY reference rates (e.g. EFFR and SOFR), tracking developments in US dollar money markets representing their underlying interest. Members of both the Money Markets and Reference Rates teams conduct open market operations in the repo market to implement monetary policy and contribute to the production of FRBNY reference rates.

Your role as a Capital Markets Trading Analyst:

• Monitor and analyze developments across relevant markets, developing a specialized expertise in those markets.

• Contribute to the planning, execution, and analysis of open market operations, customer transaction services, and/or reference rate production in accordance with risk management protocols.

• Maintain and improve datasets, data visualizations, and tools in support of operations planning, financial market analysis, and reporting.

• Develop an understanding of market data sources that are important to operations and analysis.

• Assist staff in projects and work related to operations and market analysis.

What we are looking for:

• Demonstrated interest in economics, financial markets, monetary policy, statistics, data science, or a related discipline through prior experiences, including coursework.

• Demonstrated experience managing and manipulating large datasets across a range of data sources including experience with Microsoft Excel, Tableau, or other visualization software.

• Experience with, or willingness to learn, advanced software for data analysis (such as SQL, Python, R, GitHub, or Alteryx). 

• Experience with survey administration software, such as Qualtrics, is a plus.

Salary Range:

NY: $96100 - $118900 / year

Chicago: $84600 - $104700 / 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.