Under supervision from the Liability Manager and in accordance with Bank financial policies, regulations and strategies in place and amended from time to time, primarily responsible for the issuance and management of the Bank’s short-term liability portfolio, including short-term consolidated obligation bonds and discount notes. Independently and primarily responsible for maintaining adequate levels of liquidity to meet member needs and satisfy funding, liquidity, capital and funding gap requirements defined by statute, by regulation, by the FHFA and by internal policy. Assists with the development, implementation and execution of funding and liquidity risk strategies which includes the issuance of consolidated obligation bonds and discount notes and execution of derivatives, and corresponding reporting. Also responsible for monitoring and managing internal compliance responsibilities/policies and developing and implementing strategic improvements to Capital Markets processes, procedures and strategies. Duties also include execution of derivatives and other financial instruments, as applicable. Serves as back-up to the Long-Term Funding & Derivative Manager which includes the issuance of Consolidated Obligation Bonds and execution of derivatives. Also serves as a secondary back-up to the Short-Term Investment Manager.
- Primarily responsible for managing the Bank’s liquidity and liquidity risk management. Maintaining optimal liquidity for our members is a core mission of the Bank and a primary regulatory focus area of the FHFA. This position is responsible for maintaining optimal levels of liquidity to meet the liquidity requirements we are held to in statute, in regulation, by the FHFA and in policy and to ensure the Bank always has sufficient liquidity to meet the advance and mortgage purchase needs of our members and meet our financial obligations. This position has input on the strategies and funding instruments used to meet our liquidity requirements and meet member needs which can include issuance of consolidated obligation bonds and discount notes and execution of derivatives. These decisions have significant impacts on the levels and cost of liquidity which can significantly impact the overall liquidity and profitability profile of the Bank. This position is also responsible for analyzing the impact of liquidity requirements and developing and implementing strategies and plans to optimally satisfy the applicable requirements.
- This position is also primarily responsible for the development, maintenance and testing of a bank-wide Contingency Funding Plan as required by policy and the FHFA. This also includes executing the plan and directing the actions of several departments in the Bank in the event of a liquidity challenge or crisis.
- Primarily responsible for developing and executing strategies and for meeting FHFA funding gap requirements. This position has input on the strategies and funding instruments used to meet our funding gap requirements targets which can include issuance of consolidated obligation bonds and discount notes, execution of derivatives, investment selection and the selection of investment accounting designations. These decisions have significant impacts on regulatory compliance, compliance reviews, and the overall liquidity, funding and profitability profile of the Bank.
- Primarily responsible for the issuance and management of the Bank’s short-term liability portfolio, including consolidated obligation bonds and discount notes. This position owns discretion in the specific financial instruments and terms of these instruments in this portfolio. Because of the size of this portfolio, skillful management and strategic planning of this portfolio have a significant impact on the profitability, risk management and liquidity of the entire Bank.
- This position also manages the size of the balance sheet to optimize our core mission asset and capital ratios and to allow for full flexibility in the redemption of member capital stock both of which impact profitability and capital adequacy. Specific responsibilities include daily issuance and monitoring of Bank Discount Notes and corresponding reporting and analysis. Involves issuing short-term liabilities to achieve and balance profitability, capital, liquidity and core mission ratio targets.
- Management and execution of internal compliance responsibilities, policies and processes. This includes the managing, if applicable, developing improvements and ensuring compliance to applicable RACAs, SOX documentation, EUAs, business continuity, record retention and other internal policies.
- Management and execution of external compliance responsibilities, regulations and guidelines relating to funding, liquidity, capital, core mission asset and daily balance sheet management. This includes developing improvements, strategies and solutions to ensure compliance to statutes, regulations, guidelines and requirements from Congress, FHFA, CFTC, SEC, and external auditors.
- Assists in developing, presenting, executing and monitoring funding and liquidity risk management strategies and corresponding reporting. This includes presenting such strategies to senior management and management committees, including the Asset Liability Committee (ALCO).
- Developing and implementing strategic, technological and procedural improvements to Capital Market’s funding, liquidity and compliance processes and strategies.
- Maintains a broad and detailed knowledge of financial markets, financial instruments and market conditions in order to efficiently execute liability and derivative transactions and manage liquidity risk.
- Maintain and manage short-term liability counterparty and underwriter relationships.
- Assist Liability Manager and the Long-Term Funding & Derivative Manager in ensuring compliance with external regulations relating to long-term funding and derivatives including, but not limited to, regulations and requirements from the FHFA, CFTC and SEC.
- Consistent with the requirements of the Minority and Women Inclusion Program, engage in appropriate outreach with diverse-owned vendors, broker dealers, counterparties.
- Serves as a back-up to the Long-Term Funding & Derivative Manager with long-term liability and related derivative portfolio transactions and assists the Long-Term Funding & Derivative Manager in backing up the Liability Manager. This includes the issuance of consolidated obligation bonds and execution of derivatives.
- Thorough understanding of finance and financial analysis concepts and strategies. Specifically, gain expertise in funding and liquidity markets.
- Thorough understanding of internal procedures and both internal and external controls and compliance policies, rules and regulations that impact Capital Markets.
- Have no violations to FHFA regulations and guidelines or Bank policies related to short-term liability or liquidity transactions.
- Have no material weaknesses cited by the FHFA examiners in connection with the short-term funding or liquidity risk management.
- Timely, efficient, precise and consistent execution of Capital Markets funding, liquidity risk and capital management strategies, related derivatives and corresponding reporting. Constant monitoring and meeting funding and liquidity needs accurately and in the most optimal manner possible.
- Produce accurate and timely reports for Capital Markets management, the board of directors and Asset/liability Committee.
- Timely compliance with internal and external controls and policies, rules and regulations that impact Capital Markets-Funding.
- Timely, efficient, precise and consistent execution of Capital Markets long-term funding and related derivative strategies and corresponding reporting as a back-up to the Long-Term Funding & Derivative Manager.
- Inquisitive approach to analysis-look for the "why" and not just stating "what" happened. Protect business records created or used in business processes to ensure availability, confidentiality, integrity; and the retention and destruction of such as specified by relevant policies.
- Assist Bank on achieving equity return targets within financial strategies and acceptable risk profile.
- Protect business records created or used in business processes to ensure availability, confidentiality, integrity and the retention and destruction of such as specified by relevant policies.
- Ability to handle multiple tasks simultaneously, ability to solve problems, memory for details, ability to prioritize, and ability to maintain concentrated mental and visual attention for sustained periods.
- Demonstrates a commitment to diversity and inclusion (D&I) by taking actions that are consistent with Bank’s D&I program. Provides reporting to the Office of Minority and Women Inclusion (OMWI), as needed, as well as partners with OMWI to implement effective policies and procedures that incorporate D&I into business activities.
Knowledge and Skills:
Experience: Three to five years of similar or related experience.
Education: Bachelor’s degree.
Interpersonal Skills: Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.
- Four-year college degree in finance, economics, or business.
- Master’s degree or professional certification is preferred.
- Three to five years of similar or related experience.
- Thorough knowledge of financial markets, including money markets, hedging techniques, money market instruments, bond and derivative markets and products.
- Knowledge of SFAS 133, Accounting for Derivative Instruments and Hedging Activities.
- Advanced financial modeling experience (Excel, Visual Basic, Bloomberg, etc)
- Considerable tact and good interpersonal skills.
- Ability to analyze information and make decisions not defined by policy or procedures which affect the Bank's funding and liquidity.
- Must be able to work and travel independently.
- Strong written and oral communication and presentation skills.