Saturday, February 5, 2011

Trader/Analyst(Sr B)

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The Market Operations Monitoring and Analysis area of the Markets Group at the Federal Reserve Bank of New York is the trading desk for the Federal Reserve System. It is responsible for the implementation of monetary policy and the management of the Federal Reserve’s balance sheet. As part of these duties, it conducts detailed analysis of financial market developments domestically and abroad, in support of the monetary policy decision-making process.

The Treasury Market Policy (“TMP”) Staff is the part of the Market Operations Monitoring and Analysis area responsible for monitoring and executing transactions in the U.S. government securities market. It regularly transacts in the Treasury bond market to fulfill monetary policy directives, most recently to execute the Federal Reserve’s $600 billion large-scale asset purchase program. It conducts extensive analytical work on fixed-income markets that is tied to many core interests of Federal Reserve policymakers, such as expectations for future inflation, monetary policy and economic growth. It advises the U.S. Treasury on debt management policy, and manages numerous other key relationships in order to gather information and further the Federal Reserve’s objectives.

Responsibilities

This position primarily involves the analysis of U.S. fixed income markets to support monetary and fiscal policy decisions and enhance the trading desk’s operational readiness to execute policy decisions. Responsibilities include:

* Analyze and report on developments in the Treasury market on a high-frequency basis, particularly as these developments relate to economic policy decisions, expectations for inflation, monetary policy and economic growth and issues related to financial stability
* Collaborate with experts to develop quantitative models for financial instruments and employ these models to analyze and explain financial market developments
* Leverage the Markets Group’s contacts with primary dealers, hedge funds, investment firms, and other market participants to gather information and develop new contacts over time
* Prepare briefings for senior policymakers on fixed-income markets and monetary policy
* Make recommendations on monetary policy implementation methodology
* Analyze fixed income derivative markets to assist with Bank-wide financial stability and regulatory reform efforts

Requirements

We are looking for a strong analyst: creative, quantitative and inquisitive, and a clear writer and communicator. The successful applicant will also have a genuine interest in fixed-income markets, monetary policy, and public service.

Other expectations include:

* A graduate degree in business, finance, economics, public policy, international affairs, or similar discipline, and at least 5 years of relevant work experience
* Demonstrated understanding of fundamental macroeconomic and financial concepts, including U.S. Fixed income markets and the instruments that impact it
* Significant quantitative experience, including the application of quantitative methods to financial-market data
* Strong leadership ability, including the ability to mentor junior analytical staff and, at times, to represent the Federal Reserve in interactions with the public
* The ability to draw conclusions and make decisions in a fast-paced environment

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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