Financial Analyst, Global Financial Flows - IF

About the Role

Financial analysts in the Global Financial Flows (GFF) section conduct in-depth analyses on quantitative and qualitative data, including producing current analysis of capital flows using data from a range of sources such as the Treasury International Capital (TIC) system, Central Bank & International Account Services (CBIAS), and Foreign and International Monetary Authorities (FIMA). They perform assigned project tasks while developing domain expertise and may lead well-defined tasks within a project. Financial analysts provide analytical support to economists and other professionals in the System, including preparation of report proposals, administration of databases, and statistical or financial analysis. They share information and ideas regarding projects and work primarily for the GFF section.

International Finance (IF)\: The Division of International Finance is responsible for research, policy analysis, and reporting in the areas of foreign economic activity, U.S. external trade and capital flows, and developments in international financial markets and institutions.  

About the Team

The GFF section in IF conducts research and policy analysis on the drivers of global financial flows to and from advanced and emerging economies and their implications for the U.S. economy and the world more generally, including their relation to asset prices, the credit cycle, and financial stability. The section's responsibilities include monitoring and analyzing foreign demand for U.S. Treasuries and its effects on U.S. Treasury yields; foreign demand for U.S. corporate securities; cross-border M&A activity; and capital flows to emerging and advanced economies. In addition, the section oversees the Treasury International Capital (TIC) reporting system, which collects data on U.S. cross-border portfolio holdings and financial flows. This dataset informs the Section's research and policy analysis and is the basis for U.S. official portfolio flows statistics. Section members also contribute to the IF Division's model-based forecast for the U.S. external sector. In performing these duties, GFF analysts are exposed to best practices for coding, documentation, and version control. When fully staffed, the section comprises seven economists, four analysts, and four research assistants. The financial analyst in this role would be one of four analysts on the TIC team and would be managed by the TIC Group Manager under the GFF Section Chief.

Essential Duties

The Financial Analyst will be expected to perform the following responsibilities under regular supervision:

• Produce current analysis of capital flows\: Draft policy memos for the FOMC round and contribute to ad hoc analysis of global capital flows in support of the IF Division's policy work.

• Contribution to TIC data processing to provide accurate and timely TIC publications and section materials. Financial analysts assist with checking, analyzing, and adjusting the TIC data for publication. This work includes largely independent review of monthly, quarter and annual data, communication of questions and corrections to the Federal Reserve Bank of New York, and acting as liaisons with the BEA, Treasury, BIS, and other end-users of the data.

• Assist in the production of the two TIC annual securities reports on Foreign Holdings of U.S. Securities and U.S. Holdings of Foreign Securities. These reports are based on security-level survey data containing millions of observations. Production includes use and maintenance of data review tools, development of new tools as needed, and drafting the text of the report in LaTeX.

• Assist with TIC Benchmark Securities Database and Cloud Migration Project, a major project on information technology overhaul of the TIC system, led by the Federal Reserve Bank of New York.

• Work with economists and other analysts to obtain and manipulate financial or financial institution structure data. Support in producing charts, graphs, and other visuals to help analyze data. Identify relevant issues and trends and draw conclusions through statistical and economic analysis.

• Participate in longer-term policy projects, which may include Improving estimates of U.S. and foreign securities flows and holdings, helping to write FEDS notes and IFDP papers, developing new tools to monitor flows to emerging markets, and standardizing and documenting section databases and processes.

Position Requirements

Candidates must have strong organizational and oral/written communication skills as well as demonstrated knowledge of financial analysis, financial institutions and markets, economic principles, and data analysis. Required skills for the position include but are not limited to:

• General understanding of automated systems and skill in the use of statistical analysis and presentation software.
• Knowledge of financial and accounting principles relating to System reports and of statistical processing systems.
• Ability to work with large datasets and working knowledge of R, Stata, SQL, FAME, and LaTex are a plus.
• The ability to work collaboratively in teams as well as independently.

FR 24 - A bachelor’s degree in finance, economics, international affairs, business administration, or a related field and a minimum of 3 years of related experience, or a master’s degree in a related field and 1 years of related experience, or an equivalent combination of training and related experience.

FR 25 - A bachelor’s degree in finance, economics, international affairs, business administration, or a related field and a minimum of 4 years of related experience, or a master’s degree in a related field and 2 years of related experience, or an equivalent combination of training and related experience.

Salary & Offer Note\: the above compensation listed is the expected offer salary range for this role, which spans all the posted grades. Exact final offers are determined by experience and education, as well as internal and external factors.

U.S. Citizenship Required

• Participates in establishing methods and systems for data collection or analysis of economic variables relevant to the formulation and conduct of monetary and regulatory policy.
• Participates in the design and implementation of surveys or other collections of economic and financial information; coordinates the clearance of report proposals under established procedures and standards; provides input to development of proposals and reporting forms and instructions.
• Works with economists, statisticians, and other analysts to obtain and manipulate financial or financial institution structure data.
• Maintains awareness of new legislation, regulations, and policies that affect the information needs of the Federal Reserve and may lead to changes in data collection.
• Develops, maintains, and administers shared databases; manages the timeliness and integrity of data; maintains documentation of database contents and data flows, coordinating activities of others as needed; produces reports and provides information on database contents to support the requirements of management, data maintainers, and data users.
• Answers inquiries from other agencies and the general public about reporting issues, data content, and related topics; maintains published report descriptions and related documentation.
• Ensures compliance with the congressionally mandated, as well as OMB and internal Federal Reserve policies related to information collection.
• Monitors and interprets changes to reporting forms and instructions for Federal Reserve staff and the public to maintain consistency, prevent overlap, and assure they meet Federal Reserve information needs.
• Promotes electronic collection and dissemination of data.