Federal

Policy Analyst (Capital Markets)

Farm Credit Administration Β· Other Agencies and Independent Organizations
πŸ“ Sacramento, California VH-38/40 $78,504 - $169,548/yr
Posted: May 21, 2026 Deadline: Jun 5, 2026 (Closes in 15 days)

About This Position

As a Policy Analyst (Capital Markets), you will be responsible for serving as a subject matter expert and managing the development, revision, and implementation of policy documents and regulations that ensure the safety and soundness of the Farm Credit System (FCS).

This position is located in the Finance and Capital Markets Team of the Office of Regulatory Policy.

Qualifications

You may qualify at the VH-38 (GS-12) band level if you have one year of specialized experience equivalent to the VH-37 (GS-11) band level in the Federal service which includes experience and ability to participate in the examination or auditing of a financial institution's capital markets activities (regulatory capital/earnings/liquidity/sensitivity to interest rate risk) or perform financial analysis and evaluation work of (1) one or more of the following: corporate finance and any specialized fields of finance required such as marketable investments, regulatory capital requirements, interest rate risk management, liquidity management, money and securities markets, investments, and banking, and, or(2) the financial and management structure, operations, and practices of the FCS or financial institutions.

You may qualify at the VH-39 (GS-13) band level if you have one year of specialized experience equivalent to the VH-38 (GS-12) band level in the Federal service which includes the ability to lead or perform financial analysis and evaluation work of (1) one or more of the following: corporate finance and any specialized fields of finance required such as marketable investments, regulatory capital requirements, interest rate risk management, liquidity management, money and securities markets, investments, and banking, and, or (2) the financial and management structure, operations, and practices of the FCS or financial institutions; the ability to communicate, either verbally or written, the results and deliverables of such a financial analysis or evaluation; and an understanding of principles, methods, and tools for managing projects.

You may qualify at the VH-40 (GS-14) band level if you have one year of specialized experience equivalent to the VH-39 (GS-13) band level in the Federal service which includes the ability to lead and perform financial analysis and evaluation work of (1) one or more of the following: corporate finance and any specialized fields of finance required such as marketable investments, regulatory capital requirements, interest rate risk management, liquidity management, money and securities markets, investments, and banking, and, or (2) the financial and management structure, operations, and practices of the FCS or financial institutions; the ability to communicate, both verbally and written, the results and deliverables of such financial analysis or evaluation; and a demonstration of the ability to manage finance or capital market related projects that result in a deliverable. 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. Time-In-Grade Requirements: Current and former Federal employees (including VEOA eligibles) must have served one-year (52 weeks) at the next lower grade in the Federal service to meet time-in-grade restrictions per 5 CFR 300, Subpart F, by the closing date of the announcement.

Major Duties

Specific duties include: Developing or overseeing the development of regulations and policy statements in the capital markets area in support of statutory requirements that have significant safety and soundness impacts or present significant policy implications. Providing and maintaining expert knowledge of theory, concepts, policies in financial and capital markets and provides a variety of technical assistance functions. Monitoring and identifying important financial and capital markets issues on a variety of regulatory and policy matters that may affect the FCS.

Leading the development and presentation of training programs related to regulatory changes and updates in the financial and capital markets area. Engaging in special projects to facilitate FCA's regulatory and the Office's operating objectives, enhance the regulatory process, and/or maintain expertise in the financial and capital markets area.

Education

Education may not be substituted for experience to qualify at the VH-38, VH-39, or VH-40 band level. This job does not have an education qualification requirement.

How You Will Be Evaluated

You will be evaluated for this job based on how well you meet the qualifications above. Once the application process is complete, your two-page resume and supporting documentation will be used to determine whether you meet the job qualifications. Structured Resume Review: Occupational Experts (OEs) will review your resume to determine your technical qualifications for this position based on the required competencies.

OEs will review ONLY your two (2) page resume. OEs will not review additional information beyond your resume (e.g., cover letter, links embedded in your resume). The competencies you will be assessed on are listed below.

Financial Concepts Financial Regulation Oral Communication Project Management Skill in written communication. If you are found qualified, your application will move forward to additional phase(s) of the review process. All qualified Non Competitive applicants and the best qualified Merit Promotion applicants will be referred to the hiring manager for consideration.

Additional Information

If you are a veteran with preference eligibility and are claiming 5-points veterans' preference, you must submit a copy of your DD-214 or other proof of eligibility. If you are claiming 10-point veterans' preference, you must also submit an SF-15, "Application for 10-Point Veterans' Preference" plus the proof required by that form. For more information on veterans' preference visit: https://www.usajobs.gov/Veterans.

Males born after 12-31-59 must be registered or exempt from Selective Service. For more information visit: https://www.sss.gov/verify/. Career Transition Assistance Programs: These programs apply to employees who have been involuntarily separated from a federal service position within the competitive service or Federal service employees whose positions have been deemed surplus or no longer needed.

To receive selection priority for this position, you must: (1) meet the CTAP or ICTAP eligibility criteria; (2) be rated well-qualified for the position with a score of 85 or above; and (3) submit the appropriate documentation to support your CTAP or ICTAP eligibility. For more information visit: http://www.opm.gov/rif/employee_guides/career_transition.asp. Only experience and education obtained by the closing date of this announcement will be considered.

All FCA employees are subject to the conflict-of-interest laws and Standards of Ethical Conduct imposed upon all employees of the Executive Branch of the Federal Government and may be required to file a Financial Disclosure Report. FCA's supplemental ethics regulations restrict certain FCA employees concerning their direct or indirect interests in, or connections with, Farm Credit System institutions. These rules also require all employees to obtain approval for outside employment or business activities.

Please contact the HR Division for additional information on these rules. FCA uses E-Verify to confirm the employment eligibility of all newly hired employees. This announcement may be used to fill similar vacancies.

Applicants are encouraged to apply to all band/grade levels for which believe they are qualified for and wish to receive consideration. Salary (Base) Ranges VH-38: $78,504 to $129,532 VH-39: $89,815 to $148,195 VH-40: $102,757 to $169,548 Locality rate for your specific duty location will be added to your base salary. Locality rates: McLean, VA 33.94%; Bloomington, MN 28.12%; Greenwood Village, CO 31.02%; Irving, TX 27.76%; and Sacramento, CA 30.26%.

The Fair Chance to Compete for Jobs Act of 2019, with some exceptions, prohibits the Farm Credit Administration from requesting an applicant's criminal history record before that individual receives a conditional offer of employment. If you apply to this position and are selected, we will not ask about your criminal history before you receive a conditional job offer. If you believe you were asked about your criminal history improperly, visit our website at (Careers at FCA | Farm Credit Administration) for information on filing a complaint.

How to Apply

To apply for this position, you must complete the online application and submit the documentation specified in the Required Documents section below. A complete application package must be submitted by 11:59 PM (ET) on the closing date of the announcement to receive consideration. To begin, click Apply to access the online application.

You will need to be logged into your USAJOBS account to apply. If you do not have a USAJOBS account, you will need to create one before beginning the application.

Follow the prompts to select your résumé and/or other supporting documents to be included with your application package.

You will have the opportunity to upload additional documents to include in your application before it is submitted.

Your uploaded documents may take several hours to clear the virus scan process.

After acknowledging you have reviewed your application package, complete the Include Personal Information section as you deem appropriate and click to continue with the application process.

You will be taken to the online application which you must complete to apply for the position.

Complete the online application, verify the required documentation is included with your application package, and submit the application To verify the status of your application, log into your USAJOBS account (https://www.usajobs.gov/), all your applications will appear on the Welcome screen. The Application Status will appear along with the date your application was last updated. For information on what each Application Status means, visit: https://help.usajobs.gov/how-to/application/status.

If you are unable to apply online, you must request an alternative application which is available from the Human Resources Division. Please contact FCA HR Division at [email protected] or 703-883-4135 between 8:00 a.m. and 5:00 p.m. ET, at least two business days prior to the closing date of this announcement to obtain an alternative application.

Required Documents

To apply for this position, you must submit a complete Application Package which includes: Your resume (no more than two pages in a Times Roman 10pt font) showing (1) paid and non-paid work experience including your position title, start and end dates (month/year) of employment, hours worked per week, and duties performed (separated by position series and grade for each federal position, if applicable). Other supporting documents: Cover letter, optional College Transcript(s), if qualifying based on education. SF-50, Notification of Personnel Action that is most recent that shows you are/were in the competitive service and the highest grade or promotion potential held.

A cash award SF-50 should not be provided. Career Transition Assistance Program/Interagency Career Transition Assistance Program documentation, if applicable (e.g., Certification of Expected Separation, Reduction-In-Force Separation Notice, or Notice of Proposed Removal; SF-50 that documents the RIF separation action; and most recent performance appraisal.) Veterans' Preference documentation, if applicable (e.g. DD-214 Member Copy 4 showing type of discharge/character of service; SF-15 Form and related documentation; VA letter.) Certain Family Members Eligible under E.O. 12721.

Your most recent non-award SF-50 and performance appraisal. Certain Military Spouses Eligible under E.O. 13473. Permanent Change of Station (PCS) orders, that lists you as authorized to accompany the Military member to the new duty permanent station; OR verification of the member's 100% disability (VA Letter); and/or verification of the member's death while on active duty (DD-1300 and Death Certificate) AND verification of the marriage to the service member (i.e., a marriage license or other legal documentation verifying marriage).

Interchange Agreement with Other Merit Systems Eligible. Documentation eligibility as listed in each individual interchange agreement.

Frequently Asked Questions

What is the salary for the Policy Analyst (Capital Markets) position at Farm Credit Administration?
The salary range for this position is $78,504 - $169,548/yr. This is a VH-38/40 position on the General Schedule pay scale. Actual pay may vary based on locality adjustments.
Where is the Policy Analyst (Capital Markets) job located?
This position is located in Sacramento, California. This is an on-site position.
What qualifications do I need?
Education may not be substituted for experience to qualify at the VH-38, VH-39, or VH-40 band level. This job does not have an education qualification requirement.
How do I apply for this position?
Apply through USAJobs.gov by clicking the 'Apply on USAJobs' button. You'll need a USAJobs account, a federal-style resume, and supporting documents. The deadline is Jun 5, 2026.
Is a security clearance required?
No security clearance is required for this position.
What benefits do federal employees receive?
Federal employees receive comprehensive benefits including health insurance (FEHB), retirement through FERS, Thrift Savings Plan (TSP) with government matching, paid annual and sick leave, paid parental leave, life insurance, and student loan repayment programs.