Federal Reserve System Cross-Portfolio Policy & Analysis (CPPA) Policy Advisor 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. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic—all combined with a passion for public service.
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.
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)
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.
Incumbent must be fully vaccinated against COVID-19, unless the Bank grants an exemption based on a medical condition or sincerely held religious belief.
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.
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)
Monetary And Economic Policy
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.