Intern, CFI (Consumer Finance Institute), Summer 2024 (Spring/Fall optional)

Company

Federal Reserve Bank of Philadelphia

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 Federal Reserve Bank of Philadelphia's Consumer Finance Institute (CFI) is seeking a paid Intern to work with our team. The hourly rate for this position is $21.00 per hour for undergraduate students, $25.00 for graduate students and $28.00 for PhD level students.

Principal Duties and Responsibilities:

The Consumer Finance Institute seeks a well-trained and motivated research intern to support the written and statistical research output of its research fellows in a part-time capacity (with full-time possible during summer).  The intern’s primary responsibility will be to assist research fellows with empirical research into consumer finance topics and to report findings verbally and in written form for inclusion in research papers. The intern will gain experience querying, cleaning, and analyzing very large data sets. Candidates must be a junior or senior undergraduate student; a graduate student; or recent BA/BS/MS graduate; or a PhD student in a quantitative discipline such as economics, computer science, engineering, mathematics, or statistics. Precise job role and work will be tailored to candidate's experience.

Candidates should be available to work nearly full time (40 hours) over the summer. Candidates can begin work before the summer and continue through the fall and winter, however this is not required and can be done on a part time basis.

Qualifications/Requirements:

Candidates should have demonstrated research capacity as evidenced by research papers or research assistance employing statistical and/or econometric analysis. Successful applicants will have taken three or more courses in statistics, econometrics, and economics and should be familiar with statistical software such as Stata, R, or Python. Candidates should also be proficient with the MS Office suite. Experience with SQL or Spark a plus.

The ideal candidate will be highly motivated; will possess strong oral and written communication skills.

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 LGBTQ+ 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 full 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 m