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Tuesday, April 20, 2010

SEC jobs

I received the following from the SEC. If you are interested, let me know. There may be more senior positions available with the possibility of real input into future reform. If you are a math / science student or postdoc, and have ethical qualms about working on Wall Street, this might be something to consider.

Quantitative Risk Analyst at US Securities and Exchange Commission

Location: Washington, DC (Washington D.C. Metro Area)
Compensation: $80,000 - $130,000 Per Year


Job Description


The SEC's new Division of Risk, Strategy and Financial Innovation is looking for junior quantitative risk analysts. This division is of great importance given proposed legislation, which may increase the SEC’s responsibility for derivatives, hedge funds and credit agencies, as well as give the SEC a seat at the systemic Risk Council. Although the division is only a few months old and is quite small, it already has high visibility both within and outside the SEC.

The pay scale obviously is less than that in private industry; it will be between $80K and $130K depending on your experience and training. Another important difference in the government is that we hire full-time, permanent employees through an open competition - which means a significant process. We can also bring employees on board relatively more quickly if employment is limited to a period of a few years. For those who are interested in public service or making an important contribution to the markets, there will be the opportunity to be involved in any number of efforts that will affect the investment regulatory environment for many years to come.


Skills


Here is the kind of person we are looking for:

# Strong undergraduate training in math, computer science and statistics.
# An ability to program and code. This will include areas like:
Database knowledge, because a lot of what you do will require that you manage or pull in the data you use.
Developing prototype systems and models. In our case, not models for trading but for targeting where to focus our examinations and investigations.

Do analytical work, such as regressions and factor analysis. Part of this will be to contribute to the broad agenda on systemic risk.
# Two or more years of experience in the financial industry.
However, we can look at people fresh out of school if you are very strong technically and are willing to work at the lower pay scale.
# A masters degree in financial engineering or similar field is valuable but not necessary.
# The work will be in DC, and we would like to have a two year commitment on your part.


Company Description


The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.

The new division of Risk, Strategy and Financial Innovation combines the Office of Economic Analysis, the Office of Risk Assessment, and other functions to provide the Commission with sophisticated analysis that integrates economic, financial, and legal disciplines. The division’s responsibilities cover three broad areas: risk and economic analysis; strategic research; and financial innovation. With the creation of the new division, the SEC now has five divisions, including the Division of Corporation Finance, the Division of Enforcement, the Division of Investment Management, and the Division of Trading and Markets. This is the first new division at the SEC since 1972.

The new division will perform all of the functions previously performed by the Office of Economic Analysis and the Office of Risk Analysis, along with the following: (1) strategic and long-term analysis; (2) identifying new developments and trends in financial markets and systemic risk; (3) making recommendations as to how these new developments and trends affect the Commission's regulatory activities; (4) conducting research and analysis in furtherance and support of the functions of the Commission and its divisions and offices; and (5) providing training on new developments and trends and other matters.

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