Economist - Markets

FINRA; Washington (District of Columbia); Hybrid; USD 131,000 - 238,000; Full time

Benefits offered by this job

Health insurance

Dental coverage

Vision coverage

401(k) with match

Tuition reimbursement

Commuter benefits

Wellness programs

Job summary

FINRA's REMA unit seeks an economist/analyst to perform statistical, econometric, and financial analyses evaluating market practices and regulatory alternatives. The role focuses on market structure developments, tokenized securities, AI-enabled trading, and cross-market interactions, applying large-scale data analysis to inform price discovery, liquidity, and investor protection.

You will prepare reports and present findings to senior leadership, collaborate with multiple FINRA teams, and

Qualifications

• Master’s degree required with 3 years of relevant experience; PhD preferred.
• Experience producing economic analyses, including econometric modeling and reporting.
• Proficiency with R, Python, and/or Stata.

Responsibilities

• Analyze market practices and regulatory programs using quantitative and qualitative methods.
• Conduct empirical research on securities markets and trading behavior to support rulemaking and policy.
• Analyze large trade and order data to identify trends and risks.
• Develop statistical, econometric, and ML methods to evaluate market quality and liquidity.
• Present findings to senior leadership and internal stakeholders.
• Collaborate with regulatory, surveillance, enforcement, and policy staff.

Skills

Econometrics

Quantitative analysis

Programming (R/Python/Stata)

Communication

Education

Master's degree in Economics/Finance/Statistics or related field

PhD in Economics/Finance/Statistics (preferred)

Tools

R

Python

Stata

Job description

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 rulemaking, 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 levels.
• Strong written and verbal communication skills, with the ability to manage multiple priorities and meet tight deadlines.
• Motivated self-starter capable of working with increasing independence.
• Ability to handle multiple tasks under tight deadlines

Work Conditions

• Hybrid work environment, with defined in-person presence requirements.
• Extended hours as needed

Boston, MA: $131,200 - $238,300

Chicago, IL: $125,900 - $228,000

Denver, CO: $114,200 - $207,200

Jericho, NY: $131,200 - $238,300

Jersey City, NJ: $137,000- $248,700

Philadelphia, PA: $125,900 - $228,000

New York, NY: $137,000 - $248,700

Rockville, MD: $131,200 - $238,300

Tysons, VA: $131,200 - $238,300

Washington, DC: $131,200 - $238,300

Woodbridge, NJ: $131,200 - $238,300

Connecticut State: $114,200 - $248,700

Washington State: $114,200 - $248,700

Employees may be eligible for a discretionary bonus in addition to base pay. Non-exempt employees are also eligible for overtime pay in accordance with federal, state, or local law. As part of its dedication to employee wellness, FINRA provides comprehensive health, dental and vision insurance. Additional insurance includes basic life, accidental death and dismemberment, supplemental life, spouse/domestic partner and dependent life, and spouse/domestic partner and dependent accidental death and dismemberment, short- and long-term disability, long-term care, business travel accident, disability and legal. FINRA offers immediate participation and vesting in a 401(k) plan with company match and eligibility for participation in an additional FINRA-funded retirement contribution, tuition reimbursement, commuter benefits, and other benefits that support employee wellness, such as adoption assistance, backup family care, surrogacy benefits, employee assistance, and wellness programs.

Time Off and Paid Leave*

FINRA encourages its employees to focus on their health and wellness in many ways, including through a generous time-off program starting at 15 days of paid time off (increasing with years of service, up to 25 days), 5 personal days, and 9 sick days, unless otherwise required by law (all pro-rated in the first year). Additionally, we are proud to support our communities by providing two volunteer service days (based on full-time schedule). Other paid leave includes military leave, jury duty leave, bereavement leave, voting and election official leave for federal, state or local primary and general elections, care of a family member leave (available after 90 days of employment); and childbirth and parental leave (available after 90 days of employment). Full-time employees receive nine paid holidays.

• Based on full-time schedule

Important Information

FINRA’s Code of Conduct imposes restrictions on employees’ investments and requires financial disclosures that are uniquely related to our role as a securities regulator. FINRA employees are required to disclose to FINRA all brokerage accounts that they maintain, and those in which they control trading or have a financial interest (including any trust account of which they are a trustee or beneficiary and all accounts of a spouse, domestic partner or minor child who lives with the employee) and to authorize their broker-dealers to provide FINRA with duplicate statements for all of those accounts.

All of those accounts are subject to the Code’s investment and securities account restrictions, and new employees must comply with those investment restrictions—including disposing of any security issued by a company on FINRA’s Prohibited Company List or obtaining a written waiver from their Executive Vice President—by the date they begin employment with FINRA. Employees may only maintain securities accounts that must be disclosed to FINRA at one or more securities firms that provide an electronic feed (e-feed) of data to FINRA, and must move securities accounts from other securities firms to a firm that provides an e-feed within three months of beginning employment.

You can read more about these restrictions here.

FINRA is an Equal Opportunity Employer

All qualified applicants receive consideration for employment without regard to any legally protected category, including race, color, age, national origin, ethnicity, religion, disability, genetic information, military or veteran status, sex, or any other status or classification protected by state or local law.

FINRA strives to make our career site accessible to all users. If you need a disability-related accommodation for completing the application process, please contact FINRA’s Employee Relations team at 240-386-4865 or by email at [e-mail]. Please note that this process is exclusively for inquiries regarding accommodations in the application process.

FINRA abides by the requirements of 41 CFR 60-741.5(a). This regulation prohibits discrimination against qualified individuals on the basis of disability and requires affirmative action by covered prime contractors and subcontractors to employ and advance in employment qualified individuals with disabilities.

FINRA abides by the requirements of 41 CFR 60-300.5(a). This regulation prohibits discrimination against qualified protected veterans and requires affirmative action by covered prime contractors and subcontractors to employ and advance in employment qualified protected veterans.

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