Derivatives and QFC Specialist, CG-1101-13/14 Job

Vacancy No. 2024-CISR-DB808 Department Federal Deposit Insurance Corporation
Salary $129,903.00 to $252,500.00 Grade 13 to 14
Perm/Temp Permanent FT/PT Full-time
Open Date 11/7/2024 Close Date 11/21/2024
Job Link Apply Online Who may apply Public
Locations:
Washington, DCNew York, NY


Summary

This position is located in Division of Complex Institution Supervision & Resolution (CISR), Resolution Readiness Branch, Receivership Management Sub-Branch, and is responsible for serving as a principal subject matter and technical expert in the area of Qualified Financial Contracts (QFCs) and related capital markets assets in failing or failed financial institutions.

The duty location is determined upon selection.

Additional selections may be made from this vacancy announcement.

This job is open to

Clarification from the agency

This position is open to all United States Citizens. Applicants with status or those eligible under special hiring authorities, should apply under FDIC merit promotion announcement 2024-CISR-B808. However, if you desire consideration also under this public non-status announcement, you must apply to both. Status applicants are current permanent Federal employees in the competitive service and former Federal employees with reinstatement eligibility.

Duties

At the full performance level, major duties include:

  • Serves as a technical expert and principal point of contact on QFCs and related capital markets assets, securities and securitization matters.
  • Responsible for the analysis, management, marketing and disposition activities, valuation, sales or other liquidation activities related to QFCs and capital markets assets.
  • Develops and implements QFC contract policies, procedures, and operational plans for the effective and efficient resolution of IDIs and nonbank financial companies. These contracts include, but are not limited to, derivatives, swaps, FX transactions, commodity transactions, repurchase agreements, stock loans and prime brokerage contracts.
  • Participates in on-site activities at failing and failed banks, and may act as a team leader in the management and liquidation of QFC positions and related assets acquired through a failed ban.
  • Identifies and analyzes information technology system flaws, bugs and potential improvements or enhancements; analyzes and develops scripts, queries, workarounds and other solutions.
  • Provides interface between the program office and the Division of Information Technology (DIT) to design and implement solutions, improvements and enhancements to the QFC system. Interface with bank and financial institutions regarding the most appropriate methodology for reporting various QFC instruments by the bank or institution.

Requirements

Conditions of Employment

Registration with the Selective Service.

U.S. Citizenship is required.  

Employment Conditions.

Completion of Financial Disclosure may be required.

 Background Investigation (BI) required.

Qualifications

Qualifying experience may be obtained in the private or public sector. Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g. Peace Corps, AmeriCorps) and other organizations (e.g., professional; philanthropic, religious spiritual; community; student, social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience.  Additional qualifications information can be found here.

For CG-13, applicants must have completed at least one year of specialized experience equivalent to at least the CG/GS-12 grade level or above in the Federal service.  Specialized experience is defined as:

Performing at least two (2) of the following functions: 1. assists with analyzing derivatives and Qualified Financial Contracts (QFCs); 2. performing or managing derivatives settlement and margining processes; 3. experience assisting with front to back operations processes (including key elements such as confirmations, settlements, regulatory reporting); 4. experience with key elements of other infrastructure groups (i.e. Finance, Market risk, Credit risk, Operational risk, Legal, Collateral etc.), and the impact of Trade support team actions on these areas.

For CG-14, applicants must have completed at least one year of specialized experience equivalent to at least the CG/GS-13 grade level or above in the Federal service.  Specialized experience is defined as:

Performing at least three (3) of the following functions: 1. analyzing derivatives and Qualified Financial Contracts (QFCs); 2. leading derivatives settlement and margining processes; 3. leading front to back operations processes (including key elements such as confirmations, settlements, regulatory reporting); 4. experience with key elements of other infrastructure groups (i.e. Finance, Market risk, Credit risk, Operational risk, Legal, Collateral etc.), and the impact of Trade support team actions on these areas.

 
Applicants eligible for ICTAP (Interagency Career Transition Assistance Program) must achieve a score of 80 or higher in the online assessment to be determined “well qualified” for this position. For more information, click here.

Education

There is no substitution of education for the experience for this position.

Additional information

Additional selections may be made from this vacancy announcement to fill identical vacancies that occur subsequent to this announcement.

If selected, you may be required to serve a probationary period.

Selectee(s) for this position will be required to report to their duty station office two days per week.

The range of pay shown includes base pay plus supplemental locality adjustments. The locality rates for these duty locations range from a low of 33.41% to a high of 40.07%. Pay will vary by grade level and the locality rate for the geographic location where the position is located. For more on FDIC locality rates, click here.

Salary reflects a pay cap for this position of $252,500.

To read about your rights and responsibilities as an applicant for Federal employment, click here.

Benefits

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.

In addition to the regular benefits offered by Federal agencies, the FDIC offers additional benefits to its employees. These benefits, some at minimal cost, are some of the best and most competitive in both the private and public sectors.

To find out more, click here.

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.

Your resume and the online assessment questionnaire will be reviewed to determine whether you meet the qualification requirements outlined in this announcement. Therefore, it is imperative that your resume contain sufficiently detailed information upon which to make the qualification determination. Please ensure that your resume contains specific information such as position titles, beginning and ending dates of employment for each position, average number of hours worked per week, and if the position is/was in the Federal government, you should provide the position series and grade level.

Your resume will also be evaluated to measure your responses to the assessment questions. If you rated yourself higher on the questionnaire than what is supported by your resume, your overall qualifications assessment may be adversely affected.

If you are found qualified, you will be placed in one of three categories: Best Qualified, Highly Qualified, or Qualified. These category assignments are a measure of the degree in which your background and responses to the assessment questions match the competencies/knowledge, skills, and abilities (KSAs) listed below. Within these categories, candidates eligible for veterans’ preference will receive selection priority over non-veterans.

  1. Knowledge of the financial services industry and the use and application of derivatives and QFCs (including but not limited to interest rate swaps, options, forwards, futures, foreign exchange contracts, securities repurchase agreements, securities forward sale contracts, mortgage loan forward sale agreements, commodities contracts, and credit default swaps), residential mortgage pipeline commitments and hedging strategies.
  2. Skill with anticipating and developing readiness.
  3. Ability to research, prepare, present formal presentations and communicate complex financial concepts to audiences at all levels within and outside the Corporation.
  4. Knowledge of various operating systems and IT infrastructure sufficient to assess the QFC reporting systems developed by the banks subject to QFC recordkeeping requirements.
  5. Knowledge of data visualization and reporting tools like including but not limited to Tableau, BusinessObjects, and MicroStrategy.

You do not need to respond separately to these KSAs. Your answers to the online questionnaire and resume will serve as responses to the KSAs. 


You may preview questions for this vacancy.

Required Documents

Failure to provide all of the required documentation as stated in this vacancy announcement, may result in an ineligible determination or may affect your consideration status.  Please review the following to determine your eligibility and which document(s) is required to complete your application.
VETERANS’ PREFERENCE:  If you are claiming veterans’ preference, click here.  (Note: Veterans must submit the Member 4 copy of the DD 214, Certificate of Release or Discharge from Active Duty – or other copy showing the type of discharge/character of service [e.g., Honorable, Under Honorable Conditions, etc.] along with any other required documents (e.g., DD-214, VA Letter, SF-15, etc.) to demonstrate veterans’ preference eligibility.)

INTERAGENCY CAREER TRANSITION ASSISTANCE PROGRAM (ICTAP): If you are a displaced or surplus Federal employee eligible for consideration under the ICTAP, you must submit proof of eligibility. For more information, click here.

If you are relying on your education to meet qualification requirements:

Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications. Therefore, provide only the attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education.

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.

How to Apply

To begin, click the “Apply” button and follow the prompts. If you haven’t already, register and establish a USAJOBS account. After you register online, click the “Apply” button to complete the online assessment questionnaire, and submit all required documents. Please be sure to click “Submit Application” to complete the application process. You must apply online.

Applicants requesting an exception from the online process must contact the Human Resources Specialist or point of contact listed in this announcement prior to 12:00 noon local time on the closing date.

To return to your saved application, log in to your USAJOBS account and click on “Applications” tab. Click on the “Position Title,” and then select “Update Application” or “Additional Application Information” to continue.

You have until 11:59 p.m. ET (Eastern Time) on the closing date of this announcement to complete the application process.

Please ensure you have completed the application process by verifying the status of your application on-line to reflect: “Received”. Failure to complete the application process will result in an incomplete application and you will not be considered for the position.

Agency contact information

Mitchell Desy
Phone
773-812-7406
TDD
1-800-925-4618
Fax
000-000-0000
Email
mdesy@fdic.gov
Address
Federal Deposit Insurance Corporation
FDIC Human Resources Branch
3501 Fairfax Drive
Arlington, Virginia 22226
United States
Learn more about this agency

Next steps

The Fair Chance Act prohibits inquiries concerning an applicant's criminal history information unless the hiring agency has made a conditional (tentative) offer of employment to the applicant. An applicant may submit a complaint, or any other information, to the agency within 30 calendar days of the date of alleged non-compliance by contacting the Federal Deposit Insurance Corporation’s Human Resources Staffing Policy and Accountability team at HRPolicyTeam@fdic.gov

You may check the status of your application on-line 24 hours a day, 7 days a week through USAJOBS by signing in and selecting "Application Status." Thank you for your interest in working for the Federal Deposit Insurance Corporation.


Note: We cannot accept applications on behalf of Federal Agencies. Application instructions are listed within the Job Description.


© 2006-2024, exclusive of U. S. government job opportunity announcements