Job Opportunities in United States


September 3, 2024

Federal Reserve Bank of New York

New York

FULL TIME


Emerging Markets Associate

Company
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 (FRBNY) 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 financial 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.
The Global Markets and Investments (GMI) Directorate within Domestic and International Markets (DIM) is responsible for:
  • Managing the U.S. foreign exchange reserves.
  • Analyzing global market and transformational trends, including identifying cross-cutting market themes, exploring transmission of shocks to U.S. and global markets, and evaluating implications for the trading desk’s operations.
  • Coordinating and supporting analysis of Environmental, Social, and Governance (ESG) markets and System work on climate finance issues.
The GMI Directorate is seeking an Emerging Markets Associate on the Global Markets & Trends (GMT) staff to conduct market intelligence and in-depth analysis of foreign financial market and policy developments. The GMT staff sits within the GMI directorate and is focused on producing analysis on global market and transformational trends. This position will report to the Associate Director leading the GMT staff.
Your Role as an Emerging Markets Associate:
  • Monitor and analyze trends in emerging markets, across multiple asset classes and regions, including central banks’ monetary policy frameworks and stance, that are relevant to the Federal Reserve’s monetary policy and/or financial stability objectives.
  • Provide perspective on notable high frequency country-specific and EM-wide developments and their implications for U.S. and international financial markets for inclusion in daily and weekly market briefings.
  • Perform research and analysis to help gauge market conditions and highlight emerging trends and potential vulnerabilities.
  • Distill important takeaways in high-quality written reports and presentations for a System-wide audience.
  • Maintain effective dialogue with market participants across a broad range of institutions, as well as with official sector counterparts, on relevant Emerging Markets-related issues.
  • Engage with cross-Bank teams to address topical analytical issues for policy maker consideration, as well as participate in Bank and System evaluations of global financial market conditions and developments.
  • Conduct the broad range of international trading operations related to the management of U.S. foreign exchange reserves, foreign exchange intervention and customer transactions, and liquidity swap lines with foreign central banks.
  • Contribute to an inclusive, collaborative, diverse, and transparent workplace.
Note: Some domestic and international travel required.
What are we looking for:
  • Demonstrated interest and experience in emerging markets and ability to glean insights from financial market and economic data.
  • Foundation in fundamentals of financial markets, macroeconomics, and country risk analysis pertaining to Emerging Market Economies.
  • Demonstrated experience and interest in analytical tools, statistical techniques, and frameworks relevant to understanding trends in international financial markets.
  • Proven analytical, critical thinking, and problem-solving skills.
  • Excellent written and oral communication skills, with experience writing short- and long-form summaries of key issues.
  • High level of curiosity and strong attention to detail.
  • Ability to take initiative, work autonomously and on multiple projects, and execute commitments in a timely fashion.
  • Ability to develop strong collaborative relationships and inclusive partnerships with other teams to drive progress and execute effectively on business objectives.
  • Please submit a cover letter with your application.
Salary Range:
NY: $141700 - $183600 / year
Chicago: $124700 - $161600 / 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.

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us.
Learn more.

Benefits:
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

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.
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.

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, pregnancy, or military service.

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.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Markets
Work Shift
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.
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.
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