- Entry level
- No Education
- Salary to negotiate
- New York City
Policy Analysis and Reporting Responsibility Manager, CBIAS - Markets Group What we do:
The New York Fed, on behalf of the Federal Reserve System, offers correspondent banking and custody services to central banks, monetary authorities and certain international organizations to facilitate their official financial operations. The Central Bank and International Account Services (CBIAS) area of the New York Fed's Markets Group serves the U.S. dollar reserve management needs of its official international customers by offering payment, custodial, clearing and settlement, collateral management, and investment and liquidity services. With more than $3.5 trillion of custodial holdings, representing about half of global U.S. dollar-denominated foreign reserves, CBIAS offers financial services that directly support the Bank’s role in international affairs, as well as monetary policy and financial stability. CBIAS currently runs a split operation with staff located at two locations, New York City and Richmond, Virginia.
The Customer Account Services (CAS) directorate within CBIAS is responsible for relationship management and account services, investment and liquidity management, customer trend analysis, and market intelligence. The CAS directorate is currently seeking a policy analysis and reporting associate for the Business Development (BD) staff. BD has three primary objectives: (1) to support the directorate’s stakeholder relationship management initiatives; (2) to leverage the informational value of CBIAS’s custody activity and of CBIAS’s role as secretariat of an international consultative group of official service providers to inform policymakers within the Bank and the Board of Governors of significant trends and developments; and (3) to advance value-added services and customer experiences offered by CBIAS to foreign official institutions.
Your role as Policy Analysis and Reporting Responsibility Manager:
Working closely with the Staff Coordinator, the Responsibility Manager for Policy Analysis and Reporting will play a lead role in the production of the staff’s analytical, policy, and business strategy work-streams. More specifically, he or she will:
- Monitor and analyze :
- Trends in the management of central bank FX reserves, primarily those denominated in USD, but also other current and emerging reserve currencies;
- Trends in the provision of banking and custodial services to central banks and international institutions by official institutions;
- Help direct and manage staff to produce timely written analyses or oral presentations of those trends, either for internal or external audiences;
- Extend and deepen CBIAS relationships with reserve managers, as well as custodians and asset managers for this investor class, in order to better understand their investment decisions and identify new service needs;
- Support international discussions on topics of common interest to the broader community of official sector service providers of banking and custody services, including helping to direct secretariat activities on behalf of these discussions;
- Support strategic business area projects and activities, including those related to engagement with CBIAS stakeholders;
- Develop an understanding of both of CBIAS operations and the broader international macroeconomic and financial market context in which we operate
- Analyze the policy implications of potential CBIAS service enhancements for monetary policy implementation and financial stability;
- Work independently and with colleagues throughout CBIAS, Markets and the Bank to accomplish these objectives.
What we are looking for:
- Bachelor’s degree required; advanced degree in finance, economics, or public policy preferred;
- 7 or more years of relevant work experience, including substantial knowledge of the economic and market factors that shape foreign currency reserve management decisions;
- P roven ability to present clear and concise written analysis to senior management;
- Sharp critical thinking, qualitative and quantitative analytic and problem-solving skills;
- Strong sense of initiative and intellectual curiosity;
- Proven leadership skills, including the ability to manage multiple projects simultaneously and experience in coaching other analysts in their analytic work;
- Ability to collaborate with operational, technical and analytical staff;
- Flexibility to travel between New York, NY and Richmond, VA site on a periodic basis.
This position requires access to Federal Open Market Committee Data, 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.
Furthermore, this position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take a couple of months to be completed. You can begin work before the screening is completed; however, continued employment is contingent on acceptable screening results. The screening areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.
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.