Federal Reserve System Mortgage Markets Associate Director in New York, New York
Federal Reserve Bank of New York
Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.
The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.
What we do:
The Markets Group of the Federal Reserve Bank of New York implements monetary policy on behalf of the Federal Reserve System, executes lender of last resort operations for depository institutions in the Second District, provides payments and custody services to foreign central banks, and acts as fiscal agent for the U.S. Treasury.
As part of these responsibilities, the mission of the trading desk in the Markets Group is to:
Implement domestic open market and foreign currency operations in a manner that is consistent with the FOMC authorization and directives.
Monitor and analyze global financial markets to inform the formulation and implementation of monetary and fiscal stability policy.
Produce New York Fed Reference Rates
Provide capital markets-related fiscal agency and other services to the U.S. Treasury.
Transact on behalf of foreign and international monetary authorities.
We are looking for an Associate Director to manage a staff unit on the Mortgage Markets team. As a member of the team, you will monitor and analyze developments across mortgage markets to inform the formulation and implementation of monetary and financial stability policy. In addition, we conduct agency mortgage-backed security (MBS) operations based on the FOMC’s directives. You will report to the Director of the team.
Your role as Associate Director on the Mortgage Markets Team:
Lead a high-performing team of professionals responsible for market monitoring, analysis, and open market operations with respect to the agency MBS market in support of monetary and financial stability policy, working closely with colleagues across the desk.
Promote an inclusive, collaborative, diverse, and transparent workplace to attract, develop and retain talent.
Manage relationships and collaborate with key stakeholders across the Federal Reserve System, the housing agencies, regulators, the U.S. Treasury, and private sector market participants to achieve business and policy objectives.
Provide strategic direction, oversight, coaching and expertise to the Mortgage Markets team’s analytical, operational and policy work.
Direct the alignment of resources including people, data, and technology with the team’s long-term objectives. Develop and implement business area strategies consistent with the Group/Bank long run goals as a member of the Mortgage Markets leadership team.
Promote sound risk management practices and ensure a robust control environment and culture. Work with first- and second-line partners to ensure the readiness, resiliency and effectiveness of operational tools and processes for the range of market operations conducted on the Mortgage Markets team.
What we are looking for:
Demonstrated leadership and decision-making capability and ability to adapt to change to drive progress related to business-critical responsibilities.
Seasoned understanding and demonstrated interest in financial markets in which the Federal Reserve conducts operations.
Track record of successful leadership that inspires a diverse and inclusive environment to drive progress, promote excellence and proactively manage change in a complex and dynamic environment
Demonstrated ability to coach, develop and assess skills among team members
Ability to think strategically, frame options and outcomes, encourage and draw on diverse perspectives and experiences, and influence groups to decision and execution
Proven analytical and critical thinking skills about complex topics including fixed-income securities.
Emotional intelligence, with the demonstrated ability to build trust and develop strong collaborative and inclusive relationships through candor, reliability and authenticity as a leader and colleague.
Ability to effectively represent the business area and the Bank, as appropriate, with external counterparts on issues related to MBS.
Ability to communicate authentically and effectively up, down and across the organization both verbally and in writing
Prior staff management experience preferred
Experience trading or analyzing MBS, or other fixed-income securities preferred; Familiarity with analytical tools, statistical techniques, and frameworks relevant to understanding MBS markets and monetary policy implementation preferred.
Salary Range: $242800 - $286900 / year
We believe in transparency at the NY 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 .
Touchston e Behaviors set clear expectations for leading with impact at every stage of our careers and aspire to achieve in our continued growth and development.
Communicate Authentically : Empathetically engage one another with direct and transparent dialogue and listening. Actively discuss viewpoints with respect and compassion in a timely and candid manner, taking into account verbal and nonverbal cues. Ask questions, learn from each other, and share information widely to move the Bank's work forward.
Collaborate Inclusively : Inspire a diverse and inclusive environment that empowers others to contribute meaningfully. Intentionally bring a diverse set of people together to achieve positive business results.
Drive Progress : Grow and adapt to changing priorities in the Bank. Experiment with new concepts and take appropriate risk to drive innovation. Remain curious and action oriented, navigating through ambiguity and uncertainty to drive outcomes.
Develop Others : Equitably champion, mentor, and develop others to grow professionally. Demonstrate vulnerability and empathy to create a trusted environment.
Take Ownership : Establish an environment of action and excellence by holding self and others accountable to execute to the highest standard.
Our organization offers benefits that are the best fit for you at every stage of your career:
Fully paid Pension plan and 401k with Generous Match
Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
Subsidized Public Transportation Program
Tuition Assistance Program
Onsite Fitness & Wellness Center
And more (https://www.newyorkfed.org/careers/benefits_health.html)
Please note that the position requires access to confidential supervisory information and/or 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, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.
In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.
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.
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.
Full Time / Part Time
Regular / Temporary
Job Exempt (Yes / No)
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. 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.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us:
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.