Consumer Finance Institute – Senior Research Assistant (Evergreen) at Federal Reserve Bank (FRB) in Philadelphia, Pennsylvania

Job Description:

Company

Federal Reserve Bank of Philadelphia

Job Summary:

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

The Consumer Finance Institute (CFI) seeks a well-trained and motivated senior research assistant to support the research of its staff and visiting scholars.

This position affords many opportunities to increase your knowledge of economics, markets, public policy and empirical techniques. There are a number of potential training and education opportunities, including courses in computer software and programming languages, as well as undergraduate and graduate courses in economics, statistics, and mathematics. With experience, demonstrated skills, and under the guidance of more senior staff, this position may offer opportunities to pursue self-directed research resulting in authored or coauthored reports.

RAs typically work at the Philadelphia Fed for three years before continuing on to graduate programs or other careers in economics or related fields.

Working at the Philadelphia Fed is a rewarding experience, whichever career path you may ultimately choose to pursue. Previous Senior Research Assistants have gone on to top graduate schools in economics and business. Some have found opportunities in other departments in the Bank. Others have found advanced positions in consulting, industry and at other Reserve Banks.

The job description below reflects the higher level of a dual grade job posting.  Candidates who possess a slightly lower level of experience, education, or qualifications may also be considered.

Job Description:

You will perform advanced statistical and quantitative analyses. You will also develop and manage databases as well as content for internal and external web sites.

You will have an undergraduate or graduate degree in a quantitative discipline such as economics, finance, mathematics, statistics, physics, engineering or computer science. You will have two or more years of demonstrated programming skills as well as strong written and oral communication skills. You will have moderate familiarity with data and literature related to consumer credit and payments. You will be highly motivated and have self-driven project management skills. 

You will have taken two or more courses in statistics, econometrics or mathematics. Experience using statistical programs such as R, Stata, Python required. Familiarity with database software (e.g. SQL, Hive/Postgres), mapping software (e.g. ArcGIS) and Hadoop/Spark is preferred. You should be proficient with the MS Office suite.

The salary grade for this position is: 10/11. Final salary and offer will be determined by the applicant’s background, experience, and skills, and internal equity and alignment with market data.

This is an evergreen requestion. The Federal Reserve Bank of Philadelphia is now collecting applications for research assistants. There is an immediate opening to be filled in July/August.

About the Consumer Finance Institute:

Launched in 2017, the Consumer Finance Institute builds on decades of research experience at the Philadelphia Federal Reserve Bank. The mission of this Bank-wide initiative is to produce leading-edge research on how credit markets and payment systems affect the economy. The CFI creates opportunities for scholars, the financial industry, and the public sector to collaborate and share insights on fostering healthy household finances, a stable financial system, and a resilient economy.

The core staff of the CFI consists of 21 individuals, including nine Research Fellows. This group produces applied research on consumer finance topics, topical workshops led by regulators, academics, or industry experts, and larger conferences addressing particular questions or developments in the markets for consumer credit and payments. The staff also supports collaboration among researchers and analysts across the Federal Reserve Bank of Philadelphia.

Additional information about the CFI is found at https://www.philadelphiafed.org/consumer-finance.

To Apply: Go to http://www.philadelphiafed.org/careers and find the CFI Senior Research Assistant position.  Please upload a cover letter to explain your interest in the position and include your resume/vita. Also, include an official transcript and at least two references. A writing sample is preferred but not required.

We offer a great benefits package that features:

• Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period


• 401k/Thrift Plan with generous employer match


• Employer-funded Pension Plan


• Paid Vacation/Sick Time & Holidays


• Monthly $100 Commuter Allowance


• Flexible Spending Accounts and Healthcare Spending Accounts


• Flexible Work Schedule available in most departments


• Life Insurance and Long Term Disability Insurance


• Tuition Reimbursement (undergraduate and graduate)


• Parental Leave


• Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities


• Onsite Cafeteria & Coffee Shop


• Additional Convenience Benefits, Discounts and More…

Additional Information:

• The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “rb@myworkday.com”.  If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity.  If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at TalentAcquisition@phil.frb.org. The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.


• We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.


• We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.


• All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the Recruiter for this posting, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.


• Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.


• Due to the nature of the information you will have access to, we require that you also complete a more in-depth enhanced background screening (Peraton moderate). 


• All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.


• 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 permanent residents must sign a declaration of intent to become a U.S. citizen when eligible to do so and pursue a path to citizenship. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a permanent resident and a U.S. citizen and meet other eligibility requirements. In addition, all candidates must undergo an applicable background check and comply with all applicable information handling rules. Certain eligibility rules apply. You will provide work authorization to prove your eligibility to work in the United States.


• The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.


• This is not a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.


• Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.

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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