Capital Markets Funding Desk

POSITION: Capital Markets Funding Desk DATE: March 2024

DEPARTMENT: Capital Markets FLSA: Exempt

REPORTS TO: Senior Manager, Short Term Funding LOCATION: Onsite/Reston, VA

SUMMARY OF POSITION

The Capital Markets Desk (Desk) is responsible for advising and assisting the Federal Home Loan Banks (FHLBanks) in meeting their funding and market access needs in the short and long term capital markets. On an annual average, the Desk manages the pricing and execution process of approximately $5 trillion in short term funding and $1 trillion in term funding annually.

PRINCIPAL RESPONSBILITIES

• Develop and maintain relationships and understanding of FHLBanks including asset-liability management, credit, and investment products, funding constraints, hedging styles, and risk tolerance
• Develop a strong understanding of the fixed income market, economic indicators, investor demand and other determinants to effectively communicate with the FHLBanks, agency dealers, interest rate derivative counterparties, and other related market participants on the debt issuance process
• Coordinate and recommend the sales and pricing strategies of the Discount Note Programs and its functional operation within the established policies and procedures to maintain a high level of market access and produce the lowest cost of funding over time for the FHLBanks
• Establish and monitor daily security pricing indications, which the FHLBanks utilize to set market rates for advances to their members, to make investment decisions, and value their existing assets and liabilities
• Facilitate communications on market opportunities, relative value metrics and market trends, and make recommendations through daily conference calls and written communications with the FHLBanks
• Gain a strong understanding of the SOFR market (cash, futures, and derivatives) to provide the FHLBanks with relative value color within the discount note market and comparing to other debt products
• Assure the accuracy and timeliness of the Capital Markets processes and procedures, initiate, and recommend additions or modifications to these where appropriate
• Support the OF’s diversity and inclusion strategy by following policies and procedures that ensure opportunities for employees and diverse business partners
• Participate in the planning, development, and testing of internal applications and processes to enhance and modernize the debt issuance process
• Assist and execute issuance of short term and long term bonds
• All other duties as assigned

PRINCIPAL JOB REQUIREMENTS

• Bachelor's degree in finance, economics, or engineering preferred
• Minimum of 1- 5 years of related financial market experience required
• Knowledge of debt capital markets, derivatives, and analytical skills to assess market and economic conditions is required
• Strong understanding of the fixed income markets including economic fundamentals that impact the market is required
• Strong written and verbal communication and presentation skills, with experience crafting a compelling narrative supported by data
• The ability to initiate and complete work assignments effectively and in a timely manner, with minimal supervision
• Ability to work in a fast paced, team environment, adjusting quickly to evolving market conditions
• Ability to listen and integrate ideas from diverse groups of individuals, build and maintain respectful relationships, collaborate with others, and resolve conflicts constructively
• Proof of eligibility to work in the United States

EQUAL EMPLOYMENT OPPORTUNITY

The Federal Home Loan Banks Office of Finance is committed to equal employment opportunity without regard to race (including traits historically associated with race, such as hair texture, hair type and protective hairstyles), color, religion, sex, pregnancy (including childbirth, lactation, and related medical conditions), national origin or ancestry, age, physical or mental disability, veteran status, uniformed service member status, military status, sexual orientation, gender identity, status as a parent, marital status, genetic information (including testing and characteristics), citizenship status, or any other characteristic protected by applicable federal, state, or local law.