Assistant General Counsel at Federal Reserve Bank (FRB) in New York, New York

Job Description:

Company

Federal Reserve Bank of New York

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.  

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance. 

What we do: 

The Supervision, Markets & Financial Services division within the New York Fed’s Legal & Compliance Group includes attorneys who specialize in several areas of law related to a broad set of Federal Reserve supervisory oversight, banking operations and policy initiatives, including those related to bank and bank holding company applications and regulatory reporting, Federal Reserve domestic and international accounts and financial services, payment and settlement systems, open market, foreign exchange, and discount window lending operations, international policy and strategy, digital currencies, and other technology-driven innovation in financial services.

The attorney selected for this position will be expected to work closely with other lawyers in the New York Fed’s legal function and will often collaborate with colleagues at other Federal Reserve Banks and the Board of Governors of the Federal Reserve System.

Your role as Assistant General Counsel in the Supervision, Markets & Financial Services Division:

The attorney selected for this role will analyze, provide advice on, and draft and review memoranda, agreements, and other documentation related to: 

• The law and relevant Federal Reserve policies related to the financial services that the Federal Reserve Banks provide to domestic and foreign depository institutions, the United States government, government-sponsored enterprises (GSEs), foreign central banks, international organizations and other eligible entities;




• Legal, policy and transactional matters relating to the New York Fed’s activities in open market operations, U.S. Treasury auctions, foreign exchange trading, and management of U.S. dollar reserves for international official-sector institutions, including drafting relevant agreements and analyzing authority issues;




• The law and relevant Federal Reserve policies related to access to Federal Reserve Bank accounts and services; Reserve Bank credit risk management activities; payment and market infrastructures; and lending engaged in by the New York Fed pursuant to regular and emergency authorities, including developing relevant documentation and analyzing collateral arrangements;




• Matters relating to Federal Reserve regulatory and supervisory authority over banks, bank holding companies, U.S. branches of foreign banks, and financial market utilities, among other entities; and




• The law and legislative proposals related to Federal Reserve policy initiatives and financial innovation in payment and settlement systems, including digital currencies and distributed ledger technology (DLT).  

What we are looking for:

• Juris doctor with extensive experience in providing legal advice with respect to one or more of the following:  financial services, payment and settlement services, fixed income trading, secured lending, structured finance, financial innovation, or banking supervision and regulation;




• Admission to the New York State bar (or a commitment to seek admission in New York plus admission in a jurisdiction that has established reciprocity with New York);




• Exceptional oral and written communication skills and a proven track record of working both independently and collaboratively on teams;




• Exceptional drafting skills, particularly with respect to transactional documents and legal research memoranda;




• Extensive experience drafting and negotiating contracts; and




• A strong focus on client service.

Salary Range: $280000 – $305000 / year  

We believe in transparency at the NY 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.  

  

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.  

  

Benefits:  

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  

• And more  

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.   

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.  

  

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, pregnancy, or military service.  

  

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org 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.  

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Legal Family Group

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. 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 (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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