Regulatory Data Associate (Market Monitoring/Reference Rates) - Data & Statistics
At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed. What we do:
The Federal Reserve Bank of NY’s Data and Statistics function provides critical data capabilities in support of a safe and sound financial system. Our work promotes Financial Stability, the implementation of domestic and international supervisory policy, and Monetary Policy. The team’s mission is to increase utility and ability to leverage financial data through standardization, thoughtful collection design, and increase capacity of the Function in order to scale operations.
In this role, you will be part of an optimized and highly effective delivery team in the Data Collection and Analysis Service (DCAS) Department. DCAS provides data preparation and capture services, quality assurance services, financial analysis, client services, operational excellence, project and change management, and enhanced controls that mitigate risk for data collections for use primarily by the U.S. Treasury, the Board of Governors and the Bank’s Research and Market Analysis, Markets and Bank Supervision Groups. These positions support the Bank’s key missions of informing and implementing monetary policy and ensuring financial stability.
The role will sit on the Financial Analysis Services Team (FAST) covering International and Domestic Markets. The FAST team is responsible for performing data analysis, building out and managing analytical products and ongoing stakeholder and respondent management on interpretive reporting topics. IDM provides services focusing on international positions and exposures and market monitoring activities (including liquidity monitoring, reference rates, and primary dealer market activity.) Your role as Regulatory Data Associate:
Qualifications: What we are looking for:
- Independently analyzes and researches interpretive inquiries for moderately complex data series and reporters, reporting issues, and data concepts and conduct data analysis and visualization to support client outputs. This includes providing guidance on technical and reporting issues to respondents and stakeholders.
- Performs extended analysis and question respondents on data quality items of note for reporters and reports of higher complexity
- Establishes and leads dialogue with financial institutions to enhance data quality and controls at source and proactively escalate issues as appropriate
- Reviews Analyst’s responses to non-interpretative inquiries (including Frequently Asked Questions) and quality assessment for assigned data series and provides appropriate feedback to Manager on Analyst’s scope of work
- Independently assesses and responds to ad-hoc requests such as:
- a) preparing procedure and user guide documents
- b) providing comments, including to Board staff, on data collection operations
- c) conducting studies to determine the reporting practices and procedures employed by reporting institutions
- Leads or actively participates in Function and System workgroups as assigned
- Provides training to new employees, analysts, and peers on data collections and reporting concepts
- Leverages expertise to provide horizontal perspective to Department and Function discussions, actively participate in or lead initiatives of broader impact (e.g., working groups and committee meetings at local and national levels, on-site reviews), and reports and escalates to Department and Function items of notes)
- Bachelor’s degree, preferably in Accounting, Business, Finance or Economics with a minimum 5 years relevant work experience
- Ability to identify data and/or reporting discrepancies and analyze the impact of new and evolving financial instruments and market conditions with respect to reporting requirements and other regulations
- Ability to conduct early morning review of data in support of reference rates (beginning 6:30am)
- Demonstrated understanding of U.S. fixed income and money markets structure and products, e.g., Fed Funds, Repo, Agency MBS, etc.
- Familiarity with financial organization structures, accounting practices, and relevant
- Federal Reserve regulations—for example Regulation Y
- Familiarity with the interconnectedness of reports
- Excellent analytical and decision-making abilities
- Proven problem solving skills with the ability to think critically and make recommendations to improve workflow and service levels
- Ability to provide efficient and accurate verbal and written analysis
- Ability to independently manage tasks and deadlines, while providing high quality and timely products
- Ability to work independently as well as collaboratively interfacing with all levels of staff and management at this Bank, other Reserve Banks, regulatory agencies, and regulated institutions
- Excellent organization, prioritization, and self-management skills
- Candidate must possess a proficient skill set including the MS Office suite such as: Excel, Word, Access, Power Point
- Familiarity with R, Tableau, SAS or similar technology is preferred
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 position requires access to confidential supervisory 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, 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. Why the Fed:
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 talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intellectual curiosity of an academic—all combined with a passion for public service.
The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank’s diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching out MBA. Click here to learn more.