NOTE: This is a non-benefit position and works 8 hours per week.
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.
Performs moderately complex statistical and econometric analyses to support or prove the research initiated by economists. Identifies and collects data required for research projects, monetary policy, and senior management briefings.
Initiates and conducts independent economic research projects for and under the guidance of economists. May analyze data relative to banking activities of holding companies and mergers to determine their permissibility and for formulating related recommendations.
Principal Duties and Responsibilities:
Performs statistical and econometric analysis on personal and mainframe computers; organizes data for analysis and writes computer programs using SAS and other statistical software. Presents results of research to economists and management in oral or written reports.
Recommends, initiates, plans, and executes research projects under the guidance of economists.
Coordinates research projects and directs activities of research assistants, analysts and other staff, as assigned.
Uses working knowledge of the major software packages used in the department to determine which package will best provide the analysis required for a research project.
Trains and assists lower-level analysts in the mastery of new software programs.
Uses knowledge of data sources (such as Haver, FAME, DRI, and the Internet) and data content to determine what source will best provide data for a project.
Writes programs to automate data collection procedures.
Designs databases for use in economic research projects.
Writes documentation of data sources and statistical tests that have been performed on the data.
Compiles simulation or forecasts of economic variables for use in pre-Federal Open Market Committee (FOMC) briefings.
Produces standard chart package as well as provides data and analysis for special topic briefings.
Assists in the design and development of new systems for presenting data for pre-FOMC briefings.
Documents procedures and trains lower-level analysts when required.
Collects data and interprets results from surveys. Writes results for department's publications. Coordinates the production of the publications, including providing html or pdf files for inclusion on Bank's external web site.
Reviews literature on research topics and may contact others doing similar research. Determines what information is relevant to the project and provides economists with summaries of findings, both orally and in writing.
Keeps abreast of current economic developments.
Analyzes bank structure cases; review applications, gather relevant data, meet with applicants and other interested parties, evaluate applications for conformance with Federal Reserve policy, and formulate recommendation. Prepares written report.
Provides information on banking and bank structure to potential applicants, the public, and other departments of the Bank.
Assists in recruiting, hiring, and training of new research assistants. Interviews and evaluates candidates.
Trains new research assistants in programming languages; data definitions, sources, and uses; computer use; and econometric and statistical analysis techniques.
Acts as liaison with other departments to coordinate interdepartmental efforts related to banking structure casework, data, procedures, or systems.
Works individually or in a group to identify, communicate, and implement changes and initiatives with the goal of improving the quality of the operation or product.
Performs other related duties as assigned.
Fulfills job duties and responsibilities in conformance with sound safety practices.
Education and Experience:
Bachelor's or Master's degree in economics and finance and some specialized knowledge in these fields gained from advanced study or progressively responsible experience as a research assistant.
Knowledge and Skills:
Knowledge of and ability to apply economic theory and quantitative techniques in research projects.
In-depth knowledge of PC and mainframe statistical programs, such as SAS and RATS, to organize data into files and to perform advanced statistical and econometric analyses.
Knowledge of economic data and its sources so that relevant data can be selected for research projects and for speeches and presentation visuals.
Knowledge of banking and bank regulations.
Strong analytical and problem solving skills.
Good oral and written communication skills.
Must be able to spend long hours working at a personal computer.
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.
Background investigations including drug testing are required for all new hires as a condition of employment, after the job offer is made. Employment may not begin until the Bank accepts the results of the background investigation.
The Federal Reserve Bank of Philadelphia believes that diversity 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 seven 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.
Federal Reserve Bank