Financial Economist / Senior Financial Economist

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.

Job Summary:

The Federal Reserve Bank of Philadelphia is seeking to fill a Financial Economist or Senior Financial Economist position in the Risk Assessment, Data Analysis and Research (RADAR) group of the Supervision, Regulation, and Credit (SRC) Department.

RADAR provides leadership and expertise to the Federal Reserve System on the supervision and regulation of large banking organizations in the areas of retail credit risk and fixed income, with particular emphasis on quantitative risk analysis. RADAR is the leader in several important System initiatives, such as the stress testing exercises Dodd Frank Stress Test (DFAST) and Comprehensive Capital Assessment and Review (CCAR), the Term Asset Backed Securities Loan Facility (TALF) and the Municipal Liquidity Facility (MLF). RADAR also manages the largest collection anywhere of data on U.S. consumer finance, real estate, fixed income securities markets, and climate risk. Lastly, RADAR has been growing a team of research economists that produces high-quality work in the department’s areas of expertise. The group’s resources and strong ties with other research units in the Bank as well as with other Reserve Banks and the Fed Board provide an excellent platform for both early-career and experienced researchers to develop and realize their research agenda.

What You Will Do:

The ideal candidate will have substantial opportunity to develop his/her own research agenda, preferably directed towards research on consumer credit, fixed income securities, lending and bank risks, real estate, climate risk, and regulatory policies pertaining to these matters. This individual will also serve as a subject matter expert in these areas, lead initiatives supporting RADAR’s overall data management strategy, and participate in Department efforts to exert leadership in the supervisory community. 

What You Have:

Applicants with a background in areas such as applied micro, econometrics, credit risk, household finance, fixed income, real estate economics, financial institutions, banking supervision are preferred. The ideal applicants will have a completed PhD or a firm expectation of defending their PhD by summer 2024. The Financial Economist position is aimed at early-career researchers. The Senior Financial Economist position is aimed at seasoned researchers with an established publication record in top finance and economics journals.

Additional Information:

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 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, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

To be considered for the position, please submit a resume and cover letter.

The salary grade for this position is: 16/17.

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 mo