This position will offer workplace flexibility e.g. working remotely or on site as needed/ desired during the week. Employees can expect to be in the office weekly as needed for meetings and team collaboration and should live within a commutable distance. The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person a couple days a week.What We Do:
The Markets Group at the Federal Reserve Bank of New York implements monetary policy on behalf of the Federal Reserve System, provides payments and custody services to foreign central banks, and acts as a fiscal agent for the U.S. Treasury Department. As part of these duties, the Market Operations Monitoring and Analysis Function (MOMA) within the Markets Group executes transactions in the open market and conducts detailed analysis of financial market developments in support of the monetary policy and financial stability decision-making process.
The Cross-Portfolio Policy & Analysis (CPPA) directorate is responsible for analyzing the Federal Reserve’s balance sheet as well as the foreign and domestic System Open Market Account (SOMA) and the foreign Exchange Stabilization Fund portfolios, providing expertise and strategic thinking regarding frameworks of monetary policy implementation and foreign reserves management, and supporting robust governance for the domestic and foreign portfolios and related operations.
Your Role as a Cross-Portfolio Policy & Analysis (CPPA) Policy Advisor:
- Provide expertise and thought leadership on monetary policy implementation and the SOMA portfolio; collaborate with senior colleagues across the Markets Group, the Bank, and the System on policy-relevant deliverables including FOMC-related briefings and memos.
- Lead or contribute meaningfully to internal and external communication regarding the SOMA portfolio and monetary policy implementation. Craft communications to a broad range of audiences, including policymakers, technical experts and the general public, on both the conceptual aspects and the mechanics of monetary policy implementation and the connections to financial markets.
- Lead the development of the SOMA Annual Report, the primary communication to the public about Desk operations, and serve as content advisor for the SOMA portfolio seminar, the annual cross-System seminar which brings together senior colleagues from across the System to share strategic perspectives on the SOMA portfolio and related topics.
- Contribute to strategic efforts to improve external communication regarding the Fed’s balance sheet, including the 13(3) facilities, and SOMA portfolio.
- Develop strong working relationships, and help coach and mentor CPPA staff; contribute meaningfully to the overall management of the CPPA Directorate and the MOMA function
What we are looking for:
- Post-graduate degree in business, finance, policy or a related area;
- At least 10 years of work experience in financial markets or public policy, with a strong understanding of monetary policy implementation and/or and foreign reserves management frameworks;
- Strong understanding of fixed income products and portfolio risk measurement;
- Excellent communication skills and experience with written communications to a variety of audiences;
- Demonstrated leadership capabilities, with the ability to build highly effective collaborative relationships across organizational lines;
- Experience effectively and independently organizing and leading projects and/or processes with a proven track record of driving results; and
- Critical-thinking skills and a demonstrated ability to assimilate new information and identify key issues.