Full Job Description
Managing Director – Markets Group Chicago Office-264744
Federal Reserve Bank of New York
Primary Location IL-Chicago
Other Locations NY-New York City
Full-time / Part-time Full-time
Employee Status Regular
Overtime Status Exempt
Job Type Experienced
Travel Yes, 15 % of the Time
Shift Day Job
Job Sensitivity Not Evaluated
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.
What we do:
The Markets Group at the Federal Reserve Bank of New York (FRBNY) implements monetary and foreign exchange policy, provides payments and custody services to foreign central banks, and acts as the fiscal agent for the U.S. Treasury. The Market Operations, Monitoring and Market Analysis (MOMA) Function sits within the Markets Group. MOMA implements domestic open market and foreign currency operations at the direction of the FOMC, analyzes and reports on developments in global financial markets, provides capital markets services to the U.S. Treasury as fiscal agent, and produces reference rates.
The Markets Group employs a split operations business model for critical activities, with staff located in geographically diverse locations as a part of the Bank’s resiliency objectives. Daily activities are conducted by multiple sites in normal business conditions, with each site ready to execute all critical activities in contingency scenarios. The Managing Director, Chicago Office, provides on-site senior management leadership and oversight to the Chicago Office and is expected to lead all critical business activities related to monetary policy implementation in the event of a contingency event.
Your role as the Managing Director, Chicago Office:
As a member of the senior leadership team, you will report directly to the Executive Vice President and System Open Market Account (SOMA) Manager and participate in planning, strategy, resourcing, and talent management activities for the function. You will also lead cross function projects related to operations, market monitoring and analysis, and policy implementation aimed at continuously enhancing the Markets Group's resiliency capabilities. Additionally, you will:
Serve as an advocate for successful and resilient split operations across both offices, fostering effective communication, sustained integration and unfailing consistency in the way the Bank carries out its responsibilities across both sites including open market trading, fiscal agency capital markets activities, and monitoring and analyzing financial markets
Support the Chicago Office management team to ensure that the critical activities performed by the Office are executed with accuracy and efficiency within a strong control environment
Drive the implementation of the Bank’s resiliency strategy for critical activities including its approach to geographic dispersion
Partner with business leaders to support the management of Chicago Office to maximize performance, foster career development and mobility, and advance business objectives
Build and Cultivate strong and productive partnerships with internal and external stakeholders to ensure the successful attainment of the Bank’s mission and objectives
What we are looking for:
10+ years of leadership experience with a proven track record of achieving results. Strong knowledge of banking and financial services, portfolio analysis, and financial market and policy analysis and demonstrated experience managing and executing related market activities
Interest and strong ability in the sustainable and ongoing development of people, with the ability to lead diverse teams to deliver high quality and timely results across policy, operational and analytical objectives
Emotional intelligence, including the ability to build trust in a variety of relationships through candor, reliability and authenticity as well as the capacity to embrace and draw from diversity and inclusion to improve the quality of outcomes.
Background in risk management principles and practices
Excellent communication, writing, presentation, and analytical skills
Experience with multi-site collaboration or alternate work site leadership
Domestic travel (e.g. Federal Reserve Bank of New York, Federal Reserve Board, and US Government agencies in Washington, D.C,) is required
Bachelor’s degree required, Master’s degree or doctorate in business, economics, or public policy or a related field preferred
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
Flexible Work Arrangements
And more which you can find here
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 not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.
In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.
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.