Federal Reserve Bank of New York Position

carlrupp2's picture
Rank: Chimp | 12

Hi,

Got a call back from the Fed of NY, for a position in the Statistics function, in the Survey & Data Research Area. Looks like survey collection and entry, which isn't too appealing. I've been in corporate finance in a F50 non-financial firm for the four years since I graduated undergrad, and am trying to break into banking/public finance. Does anyone know anything about this group? Would it be a good entry-point for me if I was planning on getting an MBA soon?

Below is listing:

"The Statistics Function collects, reviews and analyzes regulatory, deposit, credit, security, organizational structure and Cross Border data submitted to the Federal Reserve Bank of New York from domestic and foreign depository institutions, capital market participants, and bank holding companies. These data are used in the implementation of monetary and foreign exchange policy, the construction of the balance of payments statistics, bank supervision and compliance reviews, and monitoring of domestic and international markets.

The Survey & Data Research Area is mainly responsible for collecting economic and financial surveys on behalf of the Board of Governors, the Research Function of the NY Fed and other districts. These surveys are used to inform monetary policy decisions. In addition, this area is responsible for collecting Tri-Party repo data, managing the BIS Data Exchange process and monitoring the receipt of data from CHIPS, DTCC, and CLS. This Unit is in the process of expanding the scope of its data collection services to meet the evolving information needs of data users by modifying and expanding the scope of the existing national economic surveys, conducting new data collection initiatives on behalf of the Board and other Reserve Banks.

Responsibilities

* Collect data via qualitative surveys and contribute expertise in data management by gathering business requirements, testing the survey application and maintaining the respondent base through various forms of communication.
* Collect and analyze survey metrics in terms of response rate, industry and geographical location to ensure proper sample representation.
* Build strong relationships with stakeholders to ensure Unit is providing correct deliverables and identify opportunities in providing more client-servicing deliverables.
* Collaborate with stakeholders by recommending ideas to expand and retain respondents through monthly meetings and/or conference calls.
* Participate in the Survey Redesign Project by providing input to the business requirements, reviewing use cases and writing or executing test plans that reflect an understanding of the application, data, and process.
* Work with divisional management in the coordination of the Annual Economic and Financial Survey Workshop. This Workshop is a forum where practices, processes, and applications used to collect local economic and financial surveys within the Federal Reserve System are shared.
* Process and analyze FR 2502Q data submitted by respondents and prepare explanations of edit exceptions and unusual trends in data for users.
* Improve support to the BIS, the Board and FRB Research Functions by assisting in analyzing data issues, including the fulfilling data requests, ensuring the timely delivery of quality data, and reviewing the content of data reported to ensure that all required data are captured correctly in the reporting process.
* Lead or participate as Project Manager or Subject Matter Expert in the implementation of new data collection initiatives.
* Identify, propose and implement workflow efficiencies.
Undertake ad hoc projects and assignments, as required.
Requirements

Bachelor's degree required; CPA or CFA preferred.
Strong analytical and problem-solving skills.
A solid focus on relationship management and working with colleagues in building effective relationships with clients.
Strong organization and self-management skills.
Detail-oriented and proven ability to assimilate new information quickly.
Strong written, oral, communication and interpersonal skills.
The ability to manage tasks and deadlines, while providing high quality and timely products.
Proficient computer skills, including MS Office suite such as: Visio, Excel, Word, Access, Power Point."

Thanks

Comments (37)

Aug 19, 2014

Bump

Aug 28, 2014

i imagine that this would look really good for an mba and a great talking point in any ib interview

Aug 28, 2014

Can you CC me into some memos? :)

Aug 28, 2014

.

Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

Aug 28, 2014

Had a friend here who interviewed for the sophomore SA position with the NY fed. From what he said the role is much more of a project management focused type position where a lot of your work is focused on updating/implementing new systems (in IT, their treasury operations) across the board. You get exposure to the markets obviously, but I don't think that the focus of the role was direct finance experience.

And I understand they have different positions and divisions - but apparently this is all they talked about during the interview. I'm at a target - so I don't think that the position your interviewing for would be radically different, though it could be.

Aug 28, 2014

had an interview with them for an internship. it was very technical. i forget the name of the division i interviewed with, but it was the "risk control" division.

Aug 28, 2014

damn...i can't even consider these types of employers (govt, fed, etc) cuz of my rap sheet haha

Aug 28, 2014

@hnic: more technical meaning knowing rates, curves, legislations etc? did they ask any fit questions?
also any info on the culture/pay/hrs etc? thanks again

Aug 28, 2014

I've heard culture depends on what part of the bank you are in, some are laid bank and some are very demanding. Sorry, not sure about the pay it varies for positions. I know they have ranges when it comes to pay so there may be a little room for negotiation or a signing bonus, especially if you have a masters or a lot of relevant work experience. Not sure on exit opportunities, interested in this as well.

Aug 28, 2014

first and foremost, you need to know your resume inside out, just like you shld for any interview. just to be clear, i didn't get the position, but i thought the interview was one of the hardest i had ever had. it took about 3.5 hours, and i ended up speaking to about 5 different ppl. more technical meaning VBA questions, C++ questions, etc, and I went in there as an Econ major.

Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

Aug 28, 2014

Depending on what part of the Fed you were working in, I would think that some Global Macro HF's or Government Bond Trading desks would be interested.

Aug 28, 2014

...

Aug 28, 2014

...

Aug 28, 2014

Did you do the job? Was it worth your while? Did it help with other jobs? Considering intern position and have same question.

Aug 28, 2014

Exit ops from public to private really depend on how you leverage contacts within your work with say, the SEC or Fed Bank NY. Both indeed would provide exit ops, but to my understanding the Fed Bank NY would be your better choice - in NYC already, do more work that has direct implications on the markets beyond regulatory factors. Both would actually look pretty good.

Are you trying the SEC/Fed Bank because you can't do Ibanking/consulting first?

Overall, it's typical to do public service type work, then cash out in the private sector in some form of advisory/consulting role.

Aug 28, 2014

I did an internship for a public sector agency and leveraged the experience into a front office BB spot. What really matters is the role you have in the agency and what aspect of the markets you are working with. Some may tend themselves more toward Research or others may be Regulatory Consulting. It does help tremendously to be in a NYC office, even if it is a regional office, because at the end of the day, the best way to secure a position is networking, which is plentiful in NYC. Depends what you make of it.

If you have any more specifics about my experience, just send a PM.

Aug 28, 2014

Well unless you have other offers you take it...

Aug 28, 2014

How is this even a question? Use your internship to infiltrate Bernanke's inner circle, then leverage your influence to destroy the world economy. Profiting off the ensuing anarchy will be easy since you custom designed the destruction yourself.

    • 1
Aug 28, 2014
swagon:

How is this even a question? Use your internship to infiltrate Bernanke's inner circle, then leverage your influence to destroy the world economy. Profiting off the ensuing anarchy will be easy since you custom designed the destruction yourself.

DONT THINK HE NEEDS TO BREAK INTO DUDE'S INNER CIRCLE TO DESTROY THE ECONOMY WHEN DUDE IS DOING A GOOD JOB OF IT HIMSELF ALREADY BRO

    • 1
Aug 28, 2014

Break into Bernanke's circle. Get insider information of upcoming M&As, failing banks, regulatory impacts, etc. Sell insider information to hedge funds and make millions.

Born in hell, forged from suffering, hardened by pain.

Aug 28, 2014

Break into Bernanke's circle. Then proceed to hit Bernanke on head with a mallet. Get insider information. Make millions.

Aug 28, 2014

break into Bernanke's circle.

    • 1
Aug 28, 2014

break into Bernanke's circle jerk.

Aug 28, 2014

Break into Bernanke's circle.

Born in hell, forged from suffering, hardened by pain.

Aug 28, 2014

break Bernanake.

Aug 28, 2014

wow the maturity level on this site has fallen drastically in the past 6 months

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.

    • 1
    • 1
Aug 28, 2014

make sweet love with Bernanke

Aug 28, 2014

Lol. A real answer would be helpful. I think I got the break Into the circle part.

I Got a dollar and a dream...

    • 1
Aug 28, 2014

What position is it for? I could use an insider in the FED. Be sure to break into Bernanke's circle, otherwise you're of no use.

Aug 28, 2014

soros broke the bernankey of england

Event Business Academy
+44 7508341649
[email protected]

Aug 28, 2014
Comment
Aug 28, 2014
Comment