Sunday, February 13, 2011

Trader / Analyst - Credit Risk Markets - Markets Group

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Credit Risk Markets (CRM), within the Markets Group, is seeking a Trader/Analyst to provide specialty market coverage in the area of corporate and municipal credit. CRM is responsible for monitoring a variety of credit and spread product markets for the purpose of informing policymakers on matters related to monetary policy and financial stability. These markets include equities, corporate credit, credit default swaps, structured consumer credit, and municipal bonds.


More specifically, the candidate would be expected to develop a macro approach towards analyzing corporate and municipal credit, with a particular focus on those sectors that may have more direct implications for monetary policy and broader financial stability. It is expected that the candidate could team up with existing staff members to track changing conditions in credit and credit derivative markets and to explain how these markets are impacted by changes in the macro environment. This will also entail discussions with policymakers about market participants’ current policy expectations and the likely impact on credit markets from potential changes in existing policy or official communication strategy.

To this end, the candidate would be expected to develop extensive contacts with corporate credit and municipal bond market participants – both primary dealers and buy-side investors -- as well as to interface with other areas of the bank, such as Bank Supervision and Research. The candidate would also contribute to the Group’s broader efforts to monitor financial markets globally for the FOMC and the Treasury, daily written briefings, conference calls and market overview reports.

The candidate should have a good understanding of the dynamics in a variety of credit markets, including market microstructure, trading conventions, and trading strategies. This role requires the capacity to produce short-term analysis under tight deadlines as well as the ability to produce lengthier research for policymakers.


The ideal candidate would have the following qualifications:

# Master’s level degree in Business, Economics, Policy or a related area

# Two to three years of work experience in corporate credit trading or fundamental credit

# Strong quantitative skills and proven ability in working with and understanding credit market data including volumes, spreads, etc.

# Demonstrated analytical skills, including substantial knowledge of financial instruments, market structure, macroeconomic theory, and monetary policy

# Ability to analyze complex market issues, make decisions quickly, and respond under pressure

# Strong written and verbal communication skills; ability to extract larger themes while providing concise, articulate, and insightful analysis in both written and verbal form

# Ability to work productively on a high-performance team and as an independent analyst.

This position requires access to 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, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.

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