Financial Economist / Sr. 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:

We are looking for a candidate to join a collaborative team of financial economists and quantitative analysts. Financial economists at the Bank are expected to contribute to System projects related to stress test modeling, analyzing financial institution portfolios, and model risk management. Financial economists also conduct original research for publication in academic and professional journals, particularly in the areas of retail credit risk, household finance, the interaction between interest rate and credit risk, and financial regulatory policy. The position offers strong research support, including a high-performing computer environment, access to proprietary data available only to researchers within the Federal Reserve System. There are opportunities for professional training, and the Bank provides support for travel to academic and industry conferences.

What You Will Do:

• Design and manage quantitative models and large and complex datasets utilizing tools such as R, Stata, Python, MATLAB, SAS, and a High Performing Cluster Computer Environment.  When required, learn additional software packages and database systems.
• Identify, develop, and conduct research projects related to bank stress testing especially retail credit risk, household finance, the interaction between interest rate and credit risk, and regulatory policies pertaining to these matters.
• Have an active independent academic research agenda: initiate, complete, and publish research projects in peer-reviewed academic journals, and present research at academic conferences.
• Apply advanced statistical analysis to banking, financial, and economic data to identify changes in the environment and emerging risks.
• Serve as a System subject matter expert in these areas and provide informed commentary on proposed revisions to policy and procedures.
• Become well informed on potential changes to regulations, and supervisory policies.
• Conduct analysis on matters related to the financial stability of the banking system.
• Prepare and present conclusions and recommendations to internal and external stakeholders.

What You Have:

• Ph.D. in finance, economics, or a related field, with strong quantitative skills.
• Candidates for the Financial Economist position should have completed their Ph.D. or expect to complete it by Summer 2024.
• Candidates for the Senior Financial Economist or Principal Financial Economist positions should have a Ph.D., at least three years of work experience in academia, government, or industry, publications in refereed finance or economics journals, and a well-established research agenda.
• Advanced analytical and quantitative skills, including the ability to understand, interpret, and utilize complex data and financial information.
• Expert knowledge in statistics or econometrics.
• Advanced data analysis experience, with a demonstrated ability to conduct analysis with statistical programming packages, including at least one of the following: R (preferred), Stata, Python, MATLAB, SAS, SQL, or equivalent.
• Ability to present technical issues to nontechnical audiences and to clearly articulate findings verbally and in writing.
• Strong interpersonal skills with the ability to work effectively in a team in a hybrid work environment and collaborate with peers across the System, while participating in System workgroups and projects.
• Candidates for the Senior Financial Economist or the Principal Financial Economist position should provide technical coaching, constructive feedback to all levels of staff, and mentor junior colleagues.

Other Requirements and Considerations:

• Included with your candidate submission, please attach .pdf files of your vita and at least one research paper. Please have two letters of recommendation sent to Brittney.Molloy@phil.frb.org
• The position may require occasional travel [up to 10%] to collaborate with Federal Reserve System colleagues.
• Applicants must be able to provide work authorization to prove their eligibility to work in the United States.  An applicant for employment also must be a U.S. Citizen, U.S. National or U.S.