PD_Treasury_Undersecretary-for-International-Affairs

Position Description

UNDERSECRETARY FOR INTERNATIONAL AFFAIRS, DEPARTMENT OF THE TREASURY

Overview

Senate Committee

Finance
Agency Mission
The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States.
Position Overview
Treasury’s Office of International Affairs protects and supports U.S. economic prosperity by strengthening the external environment for U.S. growth, preventing and mitigating global financial instability, and managing key global financial challenges.u200b
Compensation
Level III $172,100 (5 U.S.C. § 5314)¹ _{2017 data}

Position Reports to

Secretary and Deputy Secretary of the Treasury

Responsibilities

Management Scope

In fiscal 2015, the Department of the Treasury had $485,623 million in outlays and 84,050 total employment. The Undersecretary oversees a staff of roughly 200 people; supervises two assistant secretariesu2014international finance and international markets and development; has oversight over the U.S. representation to international financial institutions and the respective U.S. executive directors (akin to an ambassador) at the IMF, World Bank and the regional development banks; and has oversight of U.S. financial attaches in 10 countries as well as roughly 150 consultants working as technical assistance advisors in more than 40 countries around the world.

Primary Responsibilities

® Advises on U.S. response to global macroeconomic and financial developments, including debt, currency and energy markets
® Serves as the lead for the administration on G7 and G20 financial and macroeconomic issues, as well as the lead negotiator for international coordination of financial regulation through the Financial Stability Board (FSB) and the U.S.-EU dialogues.
® Takes the lead on trade and investment negotiations that deal with financial services or capital flows
® Monitors regional macroeconomic and financial developments for Europe, Middle East, Western Hemisphere, Asia and Africa
® Leads bilateral financial/macroeconomic dialogues, particularly with China, India, the EU, Brazil, Mexico, Japan, Afghanistan and the Middle East
® Works closely with international financial institutions where the United States is a shareholder such as the IMF, World Bank and Regional Development Banks (Asia, Africa, Latin America, Eastern Europe)
® Sits on the board of Overseas Private Investment Corporation
® Chairs the interagency group responsible for examining national security aspects of cross-border investments into the U.S.

Strategic Goals and Priorities

[Depends on the policy priorities of the administration]

Requirements and Competencies

Requirements

® Understanding of macroeconomic policies and vulnerabilities that can arise, although it is not necessary that the individual be a Ph.D. in economics
® Well-versed in international currency, debt markets and banking systems, as well as the financial regulation of individual institutions
® International diplomacy skills and experience
® Comfortable serving as the face of the U.S. in the media on international financial and economic issues

Competencies

® Strategic Orientation: demonstrates complex thinking abilities, incorporating both analytical and conceptual abilities to manage and develop plans and strategies
® Results Orientation: drive for improvement of results demonstrated by a track record of substantially enhancing performance or organizations
® Team Leadership: can focus, align and build effective groups
® Collaboration & Influencing: works effectively with peers, partners and others who are not in the line of command

Past Appointees

Nathan Sheets (2014 u2013 2017): Global Head of International Economics at Citigroup; Director of International Finance Division at the Federal Reserve Board
Lael Brainard (2009 u2013 2014): Vice President for Global Economy at Brookings Institution; Deputy National Economic Advisor for President Clinton.
David McCormick (2007 u2013 2009): Deputy National Security Advisor; Undersecretary of Commerce; President of Ariba Inc.
Endnotes
This position description was created with the help of Egon Zehnder, a global executive search firm.
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