Economist at Federal Reserve Bank (FRB) in Richmond, Virginia

Job Description:

Company

Federal Reserve Bank of Richmond

When you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.

Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.

About the Opportunity

The Research Department conducts research to support policymaking and thought leadership on issues important to the Federal Reserve and Fifth District communities. The department is currently recruiting for an Economist position to contribute to the Bank's standing in the economics profession by producing research for publication in top-tier journals, counseling Bank leadership on the national, regional, and international economy, monetary policy, banking and financial regulation, and financial markets, and contributing to the high priority initiatives of the department.

What You Will Do:

• Conduct Frontier Research


• Conduct independent research and analysis on topics in economics, including macroeconomics, banking and financial markets, and regional and urban economics using advanced economic theory, and/or statistical and econometric analysis, for publication in top-tier external journals and Bank publications.


• Actively present research at high-caliber academic conferences and Federal Reserve System conferences.


• Inform and Influence Economic and Policy Perspectives


• Prepare and deliver scheduled and ad hoc policy briefings for the Bank president on policy matters, banking, or regional activities.


• Brief and counsel senior management on the national, regional, and international economy and on issues concerning monetary policy, bank and financial regulation, and financial markets.


• Assist in the preparation of speeches or presentations for senior management.


• Enhance subject matter expertise in specific policy areas through research and external relationships.


• Advance Bank and Department Strategic Priorities


• Provide subject matter expertise to support department and Bank initiatives. 


• Collaborate with and mentor research assistants.


• Actively participate in research programming and activities, discussions and deliberations.


• Promote a diverse and collaborative research environment.

Qualifications:

• Ph.D. in economics or a related discipline


• 0 to 3+ years of relevant work experience

• Fundamental knowledge of economic theory, econometrics, and statistics


• Knowledge of economic policy analysis and subject matter expertise as demonstrated by rigorous research and analysis suitable for top academic journals


• Ability to author content which clearly and concisely conveys critical information about complex subjects


• Strong engagement skills sufficient to present complex information


• Superior skills using econometric and statistical analysis software, and computer programming languages


• Ability to travel to conferences and within the Federal Reserve System

To fully understand the economy, the Bank is committed to attracting, developing, and retaining a diverse workforce. We strongly encourage applications from all groups, including those traditionally less represented in economics and finance.

Other Requirements and Considerations:

• Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.


• If you need assistance or an accommodation due to a disability, please notify rich.recruit@rich.frb.org.


• Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).


• Candidates should reside within the Federal Reserve Fifth District


• This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.


• In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.


• Under Conflict of Interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.


• Please review Bank’s Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests (relevant sections are 5.3 and Appendix B, Parts I, II and III). FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations, or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:
  
  
  • Their borrowing relationships (Appendix B Parts I.1, II.1 and II.2)
  
  
  • If a financial institution employs a member of the employee’s immediate family (i.e. spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3)
  
  
  • If the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).
  
  
  • In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee’s job responsibilities.
  
  
  
  


• The hiring range of the Research Economist position is $146,400 – $201,300 annually.


• Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.


• Applications are reviewed on a rolling basis. Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Economics/Research

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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