Director of Foreign Exchange and Global Rates

Company Federal Reserve Bank of New York When you work at the New York Fed, you have the opportunity to make an impact in our communities and across the nation. Our mission-driven, curious, and dedicated colleagues apply their diverse perspectives and unique talents to support the strength of the U.S. economy and stability of the global financial system. At the Bank, we work full-time onsite with our teams. We believe being physically together allows us to draw on our collective strengths, while recognizing that the ability to work flexibly from time to time remains important to achieving our mission. Our Unique Work: The Domestic and International Markets (DIM) Function within the Markets Group executes transactions in the open market on behalf of the Federal Reserve System, the U.S. Treasury Department, and foreign official customers, and conducts detailed analysis of financial market developments in support of the Federal Reserve’s monetary policy and financial stability decision-making process. The Director of Foreign Exchange and Global Rates (FXGR) is a member of the DIM Senior Leadership team and provides leadership and management to the FXGR Directorate. The FXGR business line is composed of two staff units, across two physical locations, and has a combination of policy-relevant operational and analytical responsibilities. On the operational side, FXGR is responsible for executing U.S. foreign exchange policy operations, foreign exchange customer transactions, and managing central bank liquidity swap lines with a number of foreign central banks. On the analytical side, FXGR is responsible for producing high quality, timely, and policy-relevant analysis of foreign exchange, international money and capital markets, and policy developments in jurisdictions throughout the globe for relevant stakeholders across the Federal Reserve System and U.S. Treasury Department. The FXGR directorate also oversees the management of the Foreign Exchange Committee (FXC) secretariat. The FXC is an industry group sponsored by the Federal Reserve Bank of New York and supports the integrity, efficiency, and resiliency of the global FX market. How You’ll Make an Impact as the Director of Foreign Exchange and Global Rates: Provide strategic leadership of and manage the foreign exchange operations, central bank liquidity swap lines and analysis of foreign financial market and policy developments. People management responsibilities: Direct a high-performing team of managers, specialists, and analysts engaged in foreign exchange operations, FX swap transactions and analysis of international financial markets and policy developments that meets the needs of stakeholders at the FRBNY, Board of Governors, and U.S. Treasury Department in support of monetary policy and financial stability objectives; Provide strong leadership which cultivates a professional workplace environment that promotes inclusiveness, fosters collaboration, and supports open and transparent communication with an emphasis on talent management to attract, develop, and retain top talent; Direct the alignment of resources with the long-term Markets Group strategic plan and work with the DIM senior leadership team to develop and execute DIM’s strategy. Align the FXGR strategic plan with DIM’s long run goals and oversee its implementation. Operational and analytical responsibilities: Oversee the range of operations that take place within the Directorate related to foreign exchange markets and liquidity swaps with foreign central banks. Serve as a senior point of escalation for counterparty matters; Promote strong risk management practices and ensure robust control environment and culture. Collaborate with first, second, and third line partners to ensure the readiness, resiliency and effectiveness of operational tools for the range of market operations conducted within the Directorate; Lead the team’s experts in delivering high-quality, policy-relevant analysis of developments in foreign exchange, international money and capital markets, and economic policy developments to directly support the Bank’s contributions to the Federal Reserve System’s monetary policy and financial stability objectives; Provide thought leadership in setting a forward looking analytical and operational agenda to meet current and future policy needs. Work with senior stakeholders to adjust strategic priorities in response to shifts in the operating environment or policy landscape; Engage with senior leaders across the Bank, Federal Reserve System and U.S. Treasury to ensure analytical products and briefings are aligned with stakeholders’ priorities; Represent the Bank externally in interactions with private sector counterparties and the FXC to further develop the Bank’s understanding of policy-relevant global financial market issues and to maintain robust engagements with operational counterparties. Represent the Bank in international meetings and maintain relationships with senior representatives from other central banks on relevant policy issues pertaining to FXGR responsibilities. The Unique Skill Sets We’re Looking For: Relevant work experience with a demonstrated interest in financial markets and central bank policy implementation. Substantial knowledge of financial instruments, market structure, macroeconomic theory and monetary policy; Excellent demonstrated leadership and decision-making skills with the ability to oversee highly visible, time sensitive and consequential financial market operations; Strong business judgment, proactive leadership, and a strategic orientation to lead a high performing team Demonstrated agility and flexibility to guide the directorate through change management and unforeseen business challenges Strong aptitude and experience in the sustainable and ongoing development of talent, with a track record leading wide-ranging teams to achieve high-quality and timely results across policy, operational, and analytical objectives; Demonstrated ability to provide constructive and timely coaching and feedback on performance, strengths, and areas of development; demonstrated commitment to providing meaningful growth opportunities to team members; Keen self-awareness and high emotional intelligence, including the ability to build trust in a variety of relationships through candor, reliability, and authenticity, and the capacity to embrace and draw from various perspectives in an inclusive way to improve the quality of outcomes; Strong analytical, written and oral communication skills, including the ability to synthesize and transform complex issues and data into meaningful and actionable information for decision-makers, and the ability to lead others in this work; Excellent organizational and planning skills; Foresight to anticipate and respond to rapidly evolving analytical needs and priorities; Ability to credibly represent the Bank in market discussions with senior members of the investment community, central banks and in international meetings; Approximately 20% travel required. Other Things to Know: Salary Range: New York: $236400 - $400000 / year Chicago: $208000 - $352000 / year We believe in transparency at the New York 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. How We’ll Support You: Our programs and benefits are designed to support you through all your life stages: Learning & Growing: Educational assistance, career development tools, and stretch opportunities Supporting Your Family: Parental leave, adoption assistance, back-up dependent and elder care, college planning resources, and more Managing Your Health: Comprehensive insurance plans, leave policies, onsite Health & Wellness Center, and onsite Fitness Center Optimizing Your Finances: Pension plan, 401(k) with generous match, financial planning resources, and subsidized public transportation program Our Culture is deeply grounded in our Touchstone Behaviors— By working with us, you’ll have the opportunity to develop and demonstrate your ability to Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership. These competencies shape our culture here at the Bank. They also provide a shared language for how we work together and achieve success and set clear expectations for leading with impact at every stage of your career. Learn more. Apply now if you’re ready to join us in strengthening the U.S. economy together. Want to consider our other opportunities? Click here to see all our open roles. 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. We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at View email address on click.appcast.io 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. 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. Full Time / Part Time Full time Regular / Temporary Regular Job Exempt (Yes / No) Yes Job Category Markets Family Group Work Shift First (United States of America) 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 ( or through verified Federal Reserve Bank social media channels. Privacy Notice 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. Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels. Please check back later for more information on available job opportunities.