Federal Reserve Bank of New YorkWhen you work at the New York Fed, you have the opportunity to make an impact in our communities and across the nation. Our mission-driven, curious, and dedicated colleagues apply their diverse perspectives and unique talents to support the strength of the U.S. economy and stability of the global financial system. At the Bank, we work full-time onsite with our teams. We believe being physically together allows us to draw on our collective strengths, while recognizing that the ability to work flexibly from time to time remains important to achieving our mission.
Our Unique Work:
The Open Market Trading Desk (Desk) within the Markets Group is comprised of several functions: the Domestic and International Markets (DIM) Function executes transactions in the open market on behalf of the Federal Reserve System, the U.S. Treasury Department, and foreign official customers, and conducts detailed analysis of financial market developments in support of the Federal Reserve’s monetary policy and financial stability decision-making process; the Cross Market and Portfolio Analysis (CMPA) function monitors and analyzes the System Open market Account (SOMA) balance sheet and global financial markets to inform the development and implementation of monetary and financial stability policy; the Treasury Debt Financing (TDF) function executes Treasury auctions as fiscal agent for the U.S. Treasury, and the SOMA Portfolio and Strategy (SPS) function supports the SOMA Manager’s responsibilities in managing the SOMA portfolio and implementing monetary policy as directed by the Federal Open Market Committee (FOMC), informing policymakers on financial market developments and SOMA transactions, and advising policymakers on financial market, communication, and policy implementation issues.
The Director of the Chicago office serves as the senior leader in Chicago, ensuring direction, communication and integration for successful and resilient split operations. This person is also a member of the Markets Group management and Desk and DIM senior leadership teams and provides leadership to the Markets Chicago office across the Desk. In addition, the Director of the Chicago office will foster strong interconnectedness between the Chicago office and the Desk, Markets Group, FRBNY, Board, System, and further build relationships with Federal Reserve Bank of Chicago leaders and staff. In the event of a severe disruption to New York based operations, the Director of the Chicago office will work with the Chicago leadership team to ensure continuity of Desk operations and analysis working with stakeholders at the Board, System, and U.S. Treasury.
How You’ll Make an Impact as the Director of the FRBNY Markets Chicago office:
Serve as the senior Desk leader onsite in Chicago, providing leadership, direction and oversight to the Chicago office. This includes ensuring the effective communication, integration, and consistency necessary for successful and resilient split operations in normal business conditions and standing ready to execute the Desk’s critical activities in a variety of contingency situations.
Responsibilities:
Foster deep interconnectedness between the Chicago office and the Desk, the Markets Group, FRBNY, FRB Chicago, Board and FRS to enhance resilience and consistency in normal business conditions and contingency situations.
Build and cultivate strong and productive partnerships with internal and external stakeholders to ensure the successful attainment of the office’s mission and objectives.
Coach and mentor a high-performing team of managers, advisors, and analysts in the Chicago office, develop a strong pipeline of talent from the region with a focus on recruitment and retention, and manage a Business Operations Associate to deliver on key priorities
Provide strong leadership in the Chicago office which cultivates a professional workplace environment that promotes inclusiveness, fosters collaboration, and supports open and transparent communication with an emphasis on talent management to attract, develop, and retain top talent
Lead the Desk’s geographical resiliency strategy by working with Function Heads, Desk directors, and Group and Bank leadership to support staffing and succession planning for Chicago, coordinating robust business continuity plans, and leading and coordinating readiness efforts across the Desk
Develop and maintain relationships with financial market participants in Chicago to augment broader Desk market outreach efforts.
Support Function Heads on high priority cross-Desk efforts such as facilitating strategic planning, resourcing and risk management with a particular focus on generating efficiencies across the Desk in such work.
Provide cross-Desk leadership coordination for Desk forums and promote strong risk management practices and ensure a robust control environment and culture given the Chicago office’s critical role in resiliency. Collaborate with first, second, and third line partners and System stakeholders to ensure the readiness, resiliency and effectiveness of operational tools for the range of market operations.
The Unique Skill Sets We’re Looking For:
Relevant work experience with a demonstrated interest in financial markets and central bank policy implementation. Substantial knowledge of financial instruments, market structure, macroeconomic theory and monetary policy
Excellent demonstrated leadership and decision-making skills with the ability to oversee highly visible, time sensitive and consequential financial market operations; foresight to anticipate and respond to rapidly evolving analytical needs and priorities
Strong business judgment, proactive leadership, and a strategic orientation to lead a high performing team
Strong negotiation and influencing skills with the ability to garner support for business initiatives and strategies across multiple stakeholders
Demonstrated agility and flexibility to guide the Chicago office through change management and unforeseen business challenges
Strong aptitude and experience in the sustainable and ongoing development of talent, with a track record leading wide-ranging teams to achieve high-quality and timely results across policy, operational, and analytical objectives;
Demonstrated ability to provide constructive and timely coaching and feedback on performance, strengths, and areas of development; demonstrated commitment to providing meaningful growth opportunities to team members;
Keen self-awareness and high emotional intelligence, including the ability to build trust in a variety of relationships through candor, reliability, and authenticity, and the capacity to embrace and draw from various perspectives in an inclusive way to improve the quality of outcomes
Ability to build highly effective and collaborative relationships and create cross-functional synergies; possess strong interpersonal and diplomacy skills, with demonstrated leadership in managing complex relationships
Strong analytical, written and oral communication skills, including the ability to synthesize and transform complex issues and data into meaningful and actionable information for decision-makers, and the ability to lead others in this work
Excellent organizational and planning skills
Experience with multi-site collaboration preferred
Approximately 20% travel required.
Other Things to Know:
Salary Range: $208000 - $352000 / year
We believe in transparency at the New York 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.
How We’ll Support You:
Our programs and benefits are designed to support you through all your life stages:
Learning & Growing: Educational assistance, career development tools, and stretch opportunities
Supporting Your Family: Parental leave, adoption assistance, back-up dependent and elder care, college planning resources, and more
Managing Your Health: Comprehensive insurance plans, leave policies, onsite Health & Wellness Center, and onsite Fitness Center
Optimizing Your Finances: Pension plan, 401(k) with generous match, financial planning resources, and subsidized public transportation program
Our Culture is deeply grounded in our Touchstone Behaviors— By working with us, you’ll have the opportunity to develop and demonstrate your ability to Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership. These competencies shape our culture here at the Bank. They also provide a shared language for how we work together and achieve success and set clear expectations for leading with impact at every stage of your career. Learn more.
Apply now if you’re ready to join us in strengthening the U.S. economy together. Want to consider our other opportunities? Click here to see all our open roles.
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.
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.
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.
Full time
Regular
Yes
Markets Family Group
First (United States of America)
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.
The Federal Reserve System is the Central Bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.
Today the Federal Reserve's duties fall into four general areas:
Conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices and moderate long-term interest rates.
Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers.
Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets.
Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system.
