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 (https://www.philadelphiafed.org/-/media/frbp/assets/institutional/careers/frbp-salary-structure.pdf) 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 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 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 (https://www.philadelphiafed.org/-/media/frbp/assets/institutional/careers/Full-Code-of-Conduct-with-Appendices-A-and-B.pdf) 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.

　　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.

　　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 (https://www.philadelphiafed.org/about-us) the Philly Fed and its culture. Learn more about working (https://www.philadelphiafed.org/careers) for the Philly Fed.

　　Full Time / Part Time

　　Full time

　　Regular / Temporary

　　Regular

　　Job Exempt (Yes / No)

　　Yes

　　Job Category

　　Bank Examination

　　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.

　　Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)

　　OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.

　　OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.

　　Why Our People Choose Us:

　　Our reputation precedes us

　　There will always be room for personal growth

　　Our people are first

　　You’ll find the right balance

　　Your responsibilities will be meaningful

　　We hope that you will be our future colleague.