The Office of the Chief Economist conducts research on major policy issues facing the Commission; assesses the economic impact of regulatory changes on derivatives & related commodities & financial markets; participates in the development of Commission rulemakings; partners with other CFTC Offices/Divisions to provide quantitative & economic analysis for the Commission; conducts special studies & evaluations; & produces public-facing research targeting the general public & academic audiences.Learn more about this agency
Note: Multiple selections will be filled from this announcement in each geographic location (Washington, DC, New York, NY). Multiple referral lists will be issued throughout the course of this vacancy announcement with the first cut-off as follows:
- The first list of candidates will be issued September 26, 2019. Applications submitted prior to 11:59 p.m. EST ON September 17, 2019 will receive first consideration for certification. Additional lists of candidates will be issued as needed until the vacancy announcement closes on (November 14, 2019). The closing date of the announcement may be changed to close on an earlier date or extended, as necessary, until vacancies are filled.
As a Research Economist your duties will include the following:
Providing rigorous economic analyses related to derivatives (futures and swaps) markets. Evaluating market structure and trading practices in the futures, options and swaps markets for their impacts on price discovery, liquidity, and risk.
These responsibilities will contribute to the Commission's policy development and enforcement proceedings; the analyses will be used by the Commission's various Divisions. This includes conducting research on topics within the scope of the Commission's policy agenda that can be expected to maintain and enhance the Commission's standing among its peer agencies. In addition, research will serve to inform and educate the general public about markets the Commission regulates through white papers and peer-reviewed research publications.
Among the prospective topics of study are:
• systemic risk issues related to derivatives, including theoretical and empirical analyses of margin, clearing, liquidity, optimal levels of transparency, and market design;
• econometric analysis of derivatives data (exchange-traded and over-the-counter);
• theoretical and econometric analysis of high frequency data, including order book and message data;
• models of trading activity, intermediation, and market microstructure, including network analyses of derivatives markets;
• economic and empirical analysis of regulations on markets.
Post Dodd-Frank, the regulatory data available to the Commission includes over-the-counter swap transactions and positions from over 100 registered swap dealers. This rich data augments the traditional message, transaction, and position data for listed futures markets received by the Commission. This data and other data sets will be analyzed in order to provide advice and guidance to the Chief Economist and the Commission. As such, the incumbent is expected to have technical knowledge in (1) econometric analyses of high frequency data, (2) leading edge models of financial market behavior, and (3) experience with large, complex data sets. Experience analyzing unstructured data, coupled with a deep interest in the institutional practices associated with the data, would be beneficial.
Occasional travel - 15% or less
Job family (Series)
This job originated on www.usajobs.gov. For the full announcement and to apply, visit www.usajobs.gov/GetJob/ViewDetails/542702900. Only resumes submitted according to the instructions on the job announcement listed at www.usajobs.gov will be considered.