Economist - Markets

The primary duties of this position are to engage in statistical, econometric, and financial analysis projects to evaluate the risks, costs, and impacts of market practices and regulatory alternatives in support of FINRA's mission.

Market Structure and Emerging Technology Focus:

This position will focus on the analysis of market structure developments and emerging technologies that are reshaping securities markets. Areas of interest include equity and derivatives market microstructure, tokenized securities and digital asset markets, artificial intelligence and algorithmic trading, extended-hours and 24-hour trading, and the evolution of trading across multiple venues and asset classes.

The successful candidate will apply quantitative methods and large-scale data analysis to evaluate how these developments affect price discovery, liquidity, market quality, investor protection, and regulatory policy. The position will also contribute to assessing emerging fraud, cyber, and market integrity risks associated with new products, technologies, and trading practices.

Essential Job Functions Work closely with subject matter experts across FINRA to analyze and evaluate market practices, trading activity, and regulatory programs using quantitative and qualitative methods.

Conduct empirical research on securities markets, market participants, and trading behavior to support FINRA's rule making, policy, surveillance, and market integrity initiatives.

Analyze large, complex datasets, including trade- and order-level data, to identify market trends, anomalous trading behavior, and emerging risks.

Develop and implement statistical, econometric, and machine learning methodologies to evaluate market quality, liquidity, price discovery, and trading outcomes.

Assess the economic implications of market structure developments, including tokenized securities, decentralized finance models, AI-enabled trading strategies, extended-hours trading, and cross-market interactions.

Evaluate the design, incentives, and potential vulnerabilities of complex financial products, including exchange-traded products, structured products, and alternative investment vehicles.

Support economic impact assessments for regulatory proposals by developing analytical frameworks, conducting quantitative analyses, and presenting findings to internal stakeholders.

Prepare reports, presentations, briefing materials, and research publications for senior leadership, industry audiences, and policymakers.

Provide analytical support and thought leadership on emerging trends affecting securities markets and investor protection.

Represent REMA and FINRA in internal and external working groups, conferences, and industry forums.

Work collaboratively with regulatory, surveillance, enforcement, examination, and policy staff to ensure that FINRA's regulatory frameworks remain informed by current market developments.

Other Responsibilities Responsible for working on and completing other projects as needed.

May provide informal guidance or assistance to analysts on project tasks.

Working on and completing other projects as needed.

Education/Experience Requirements:

Master’s degree in Economics, Finance, Statistics, or a related field, and a minimum of three (3) years of relevant experience will also be considered. PhD in Economics, Finance, Statistics, or a related field preferred.

Demonstrated experience producing economic analyses, including project design and development, econometric modeling, statistical analysis, data collection and manipulation, programming, and preparation of written reports.

Proficiency with statistical analysis tools such as R, Python, and/or Stata.

Ability to collaborate effectively with individuals across a range of skill and knowledge…