The Office of the Chief Economist (OCE) 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 CFTC Offices/Divisions to provide quantitative & economic analysis for the CFTC, conducts special studies & evaluations and produces public-facing research targeting both the general public & academic audiences.
Summary
The Office of the Chief Economist (OCE) 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 CFTC Offices/Divisions to provide quantitative & economic analysis for the CFTC, conducts special studies & evaluations and produces public-facing research targeting both the general public & academic audiences.
Applications will be accepted from any U.S. citizen. Direct Hire Authority will be used to fill this position. This position is located in Washington, DC.
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. 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.
Males born after 12-31-59 must be registered for Selective Service.
A one-year probationary period may be required.
You will be rated on the following Knowledge, Skills, and Abilities (KSAs):
Economics and Accounting
Research
Oral Communication
Written Communication
Qualifications
To qualify for this position, applicants must meet both the basic requirement and specialized experience for the positions.
Basic Requirement
Applicants must possess one of the following:
A) Degree: economics, that included at least 21 semester hours in economics and 3 semester hours in statistics, accounting, or calculus. (Transcripts MUST be submitted)
–OR
B) Combination of education and experience: Courses equivalent to a major in economics, as shown in A above, plus appropriate experience or additional education. (Transcripts MUST be submitted)
In addition to the basic requirements for this position:
To qualify for this position at the CT-12 level, applicants must have at least one year of specialized experience equivalent to at least the CT/GS-11 level in the Federal service or comparable pay band system.
Specialized experience is defined as: Work that provides the usage of applied economic analysis by showing evidence of contributions to research projects in economic and finance that have led to a completed white papers, working papers, or publications. Able to convey research results both verbally and in writing by showing samples of past writings and/or formal presentations. Applicant must know how to use SAS, SQL, Python, or R for the statistical analysis of large data sets by showing completed analyses of data sets containing at least 1 million rows of data. In addition, applicant must be familiar with derivatives and derivatives markets (contingent cash flows, institutional details, exchanges vs. over-the-counter markets, commodity and financial products), shown by relevant education and work experience.
To qualify for this position at the CT-13 level, applicants must have at least one year of specialized experience equivalent to at least the CT/GS-12 level in the Federal service or comparable pay band system.
Specialized experience is defined as: Experience conducting rigorous applied economic analysis by showing evidence of publications in peer-reviewed economic or finance journals. Conveying research results both verbally and in writing by showing evidence of presentations that have been performed at an academic, industry or government conference. Applicant must also have experience using SAS, SQL, Python, or R for the statistical analysis of large data sets by showing evidence of having completed analyses of data sets which contains at least 1 million rows of data. In addition, the applicant must have an understanding of derivatives and derivatives markets (pricing methodologies, institutional details, exchanges vs. over-the-counter markets, commodity and financial products), shown by relevant education and work experience.
To qualify for this position at the CT-14 level, applicants must have at least one year of specialized experience equivalent to at least the CT/GS-13 level in the Federal service or comparable pay band system.
Specialized experience is defined as: A technical expert who has a comprehensive knowledge and experience of financial, economic, and econometric principles and theories and provides authoritative bases for research and policy positions on futures, options and swaps. In-depth experience conducting rigorous applied economic analysis by showing evidence of publications in peer-reviewed economic or finance journals. Conveying research results both verbally and in writing by showing evidence of presentations that have been performed at an academic, industry or government conference. Applicant must also have experience using SAS, SQL, Python, or R for the statistical analysis of large data sets by showing evidence of having completed analyses of data sets which contains at least 1 million rows of data. In addition, the applicant must have a thorough understanding of derivatives and derivatives markets (pricing methodologies, institutional details, exchanges vs. over-the-counter markets, commodity and financial products), shown by relevant education and work experience.
Candidate(s) who are selected must provide documentation of completing all educational requirements prior to entering on duty.
A copy of your official transcript(s) is also required prior to your first day.
Education
Experience cannot be substituted by education at this grade level; however, the basic education requirement must be met to receive consideration.
Applicants must possess one of the following:
A) Degree: economics, that included at least 21 semester hours in economics and 3 semester hours in statistics, accounting, or calculus. (Transcripts MUST be submitted)
–OR
B) Combination of education and experience: Courses equivalent to a major in economics, as shown in A above, plus appropriate experience or additional education. (Transcripts MUST be submitted)
Candidate(s) who are selected for this position must provide documentation of completing all educational requirements prior to entering on duty.
PLEASE PROVIDE COPY OF MOST RECENT Relevant COLLEGE TRANSCRIPTS. Transcripts must have the student's name, educational institution, and list all courses and semester/quarter hours.
SPECIAL INSTRUCTIONS FOR FOREIGN EDUCATION: If you are using education completed in foreign colleges or universities to meet the qualification requirements, you must show that the education credentials have been evaluated by a private organization that specializes in interpretation of foreign education programs and such education has been deemed equivalent to that gained in an accredited U.S. education program; or full credit has been given for the courses at a U.S. accredited college or university. For further information, visit: http://www.ed.gov/about/offices/list/ous/international/usnei/us/edlite-visitus-forrecog.html
Applicants who have completed part or all of their education outside of the U.S. must have their foreign education evaluated to ensure that the foreign education is comparable to education received in accredited educational institutions in the U.S. This evaluation must be provided by midnight Eastern Time on the closing date of this vacancy announcement. We will only accept the completed foreign education evaluation.
Additional information
***This is an open continuous announcement to fill multiple positions as they become available. Applications will be reviewed on a continuous basis for the duration of this announcement***
All employees are required to follow the Agency’s telework policy. If selected, you will be required to report to your assigned duty station to complete all onboarding procedures.
Relocation. Relocation expenses will not be paid.
Probationary Period. Candidates selected under competitive examining procedures will subject to a one-year probationary period.
This is a Bargaining Unit Position located in the National Treasury Employee Union (NTEU) Chapter 337.
CTAP and ICTAP. Candidates will be eligible if it is determined that they have exceeded the minimum qualifications for the position by attaining at least a rating of 85 out of 100. Information about CTAP/ICTAP eligibility is on the Office of Personnel Management's Career Transition Resources website at: http://www.opm.gov/ctap/index.asp.
CTAP applicants MUST submit the following documents: 1. A copy of your specific RIF notice, written notice of your expected separation or other documentation of priority consideration status; 2. A copy of your latest SF-50 - noting current position, grade level, and duty location; 3. A copy of your latest performance appraisal including your rating; and 4. Any documentation from your agency that shows your current promotion potential.
ICTAP applicants MUST submit the following: 1. A copy of your RIF separation notice, notice of proposed removal for failure to relocate, or notice of disability annuity termination; 2. A copy of your SF-50 "Notification of Personnel Action", documenting your RIF separation, noting your position, grade level, and duty location; 3. A copy of your latest performance appraisal including your rating; and 4. Any documentation from your agency that shows your current promotion potential.
The law prohibits public officials from appointing, promoting, or recommending their relatives. The law prohibits requesting, making, transmitting, accepting, or considering political recommendations for employment or other personnel actions for non-political positions. This includes recommendations from Members of Congress, Congressional employees, elected state or local officials, and political party officials and any recommendation based on party affiliation.
More than the number of positions listed may be filled through this vacancy announcement.
A career with the U.S. government provides employees with a comprehensive benefits package. As a federal employee, you and your family will have access to a range of benefits that are designed to make your federal career very rewarding. Opens in a new windowLearn more about federal benefits.
We offer a comprehensive benefits package that includes, in part, paid vacation, sick leave, holidays, life insurance, employer paid dental, medical benefits, Life Cycle Fund and participation in the Federal Employees Retirement System. Explore the major benefits offered to CFTC employees at http://www.cftc.gov/About/Careers/EmployeeBenefits/index.htm.
Eligibility for benefits depends on the type of position you hold and whether your position is full-time, part-time or intermittent. Contact the hiring agency for more information on the specific benefits offered.
How you will be evaluated
You will be evaluated for this job based on how well you meet the qualifications above.
This vacancy is being filled through the Office of Personnel Management's Government-wide Direct Hire Authority for Scientific, Technical, Engineering and Mathematics (STEM) positions. Traditional rating and ranking of applications does not apply to this vacancy. Veteran's Preference does not apply to the direct hire recruitment procedures.
DIRECT HIRE AUTHORITY: This position is being filled using Direct-Hire Authority (5 CFR 337.201) for this occupation.
Basis for Rating: Applicants will be referred to management for consideration under Direct Hire Authority.
You will be evaluated for this job based on how well you meet the specialized experience and qualifications.
For this announcement, all applicants will be reviewed to determine if they meet the qualifications and education requirements. Referral to management does not infer applicant qualifies for placement. A second level of review of qualifications and eligibility will be required by the Human Resources Office prior to final selections.
DESCRIBING YOUR EXPERIENCE: PLEASE BE CLEAR AND SPECIFIC. WE WILL NOT MAKE ASSUMPTIONS REGARDING YOUR EXPERIENCE. All answers provided in the on-line process must be substantiated by a resume. If, upon review, it is determined that your resume and/or supporting documents do not support your answer choices, your application may be removed from consideration.
Please ensure that your work history provides enough details to support your answers.
A career with the U.S. government provides employees with a comprehensive benefits package. As a federal employee, you and your family will have access to a range of benefits that are designed to make your federal career very rewarding. Opens in a new windowLearn more about federal benefits.
We offer a comprehensive benefits package that includes, in part, paid vacation, sick leave, holidays, life insurance, employer paid dental, medical benefits, Life Cycle Fund and participation in the Federal Employees Retirement System. Explore the major benefits offered to CFTC employees at http://www.cftc.gov/About/Careers/EmployeeBenefits/index.htm.
Eligibility for benefits depends on the type of position you hold and whether your position is full-time, part-time or intermittent. Contact the hiring agency for more information on the specific benefits offered.
Resume (Required) showing all relevant and related experience (cover letter optional). If selected, your resume will be used to determine your initial pay setting decision.
An unofficial college transcript (Required) (Failure to submit this form will result in your application not being considered) Note: if you are selected for this position, official transcript(s) will be required prior to your first day;
Performance Appraisal; optional
SF-50; (if applicable)
Writing Sample illustrating relative experience
If you are relying on your education to meet qualification requirements:
Failure to provide all of the required information as stated in this vacancy announcement may result in an ineligible rating or may affect the overall rating.
YOU MUST APPLY ONLINE: Your complete application, including required documents, must be received by 11:59 p.m. Eastern Time (EST) on the closing date of this announcement. You must complete and submit an application by accessing the USAJOBS website at USAJOBS.GOV. To begin, click the Apply Online button within the vacancy announcement and follow the prompts to create an account using LOGIN.GOV, if you have not done so already. LOGIN.GOV will walk you through each step of the account set-up and will automatically link your USAJOBS profile to LOGIN.GOV. Once you have established an account using LOGIN.GOV, you will then go back to USAJOBS.GOV using your LOGIN.GOV user name and password to answer the questions, and submit all required documents. If you already have established an LOGIN.GOV account or want to return to your saved application go to USAJOBS.GOV using your LOGIN.GOV user name and password to apply or view your profile. If you have problems completing your on-line application, including problems submitting your supporting documents, please contact the Help Desk by e-mail at mgshelp@monster.com or phone at 1-866.656.6831. The help desk is available Monday-Friday, 7:00 a.m. to 7:00 p.m. EST.
Commodity Futures Trading Commission
CFTC
Three Lafayette Centre
1155 21st Street, NW
Washington, District of Columbia 20581
United States
Next steps
Your status will also be updated on USAJOBS throughout the process. To check your status, log on to your USAJOBS account, click on “Application Status,” and then click “More Information.”
The Federal hiring process is set up to be fair and transparent. Please read the following guidance.
Resume (Required) showing all relevant and related experience (cover letter optional). If selected, your resume will be used to determine your initial pay setting decision.
An unofficial college transcript (Required) (Failure to submit this form will result in your application not being considered) Note: if you are selected for this position, official transcript(s) will be required prior to your first day;
Performance Appraisal; optional
SF-50; (if applicable)
Writing Sample illustrating relative experience
If you are relying on your education to meet qualification requirements:
Failure to provide all of the required information as stated in this vacancy announcement may result in an ineligible rating or may affect the overall rating.
YOU MUST APPLY ONLINE: Your complete application, including required documents, must be received by 11:59 p.m. Eastern Time (EST) on the closing date of this announcement. You must complete and submit an application by accessing the USAJOBS website at USAJOBS.GOV. To begin, click the Apply Online button within the vacancy announcement and follow the prompts to create an account using LOGIN.GOV, if you have not done so already. LOGIN.GOV will walk you through each step of the account set-up and will automatically link your USAJOBS profile to LOGIN.GOV. Once you have established an account using LOGIN.GOV, you will then go back to USAJOBS.GOV using your LOGIN.GOV user name and password to answer the questions, and submit all required documents. If you already have established an LOGIN.GOV account or want to return to your saved application go to USAJOBS.GOV using your LOGIN.GOV user name and password to apply or view your profile. If you have problems completing your on-line application, including problems submitting your supporting documents, please contact the Help Desk by e-mail at mgshelp@monster.com or phone at 1-866.656.6831. The help desk is available Monday-Friday, 7:00 a.m. to 7:00 p.m. EST.
Commodity Futures Trading Commission
CFTC
Three Lafayette Centre
1155 21st Street, NW
Washington, District of Columbia 20581
United States
Next steps
Your status will also be updated on USAJOBS throughout the process. To check your status, log on to your USAJOBS account, click on “Application Status,” and then click “More Information.”
Fair and transparent
The Federal hiring process is set up to be fair and transparent. Please read the following guidance.
