Job Description

Our department prides itself on its collegial atmosphere. RAs help one another develop their statistical, data, and programming skills. Our economists collaborate on research with academic and central bank colleagues from around the world; as a result, so do our research assistants.

The assignments in the Economic Research Department offer our RAs a number of ways to increase their knowledge of economics and their analytical skills. Moreover, RAs have access to a number of training and education opportunities, including courses in computer software and programming languages, as well as undergraduate and graduate courses in economics, statistics, and mathematics.

Working as a RA at the Philadelphia Fed is a rewarding experience, whichever career path you ultimately choose to pursue. Our RAs have gone on to top graduate schools in economics, public policy and law; some have found opportunities in other departments in the Bank; and others have moved into higher positions within the Economic Research Department.

The Bank’s RA program is structured as a two-year program, with most RAs continuing on to graduate programs or other careers in economics or related fields after two years with the Bank. Employment is at-will.

Duties and Responsibilities:

Performs statistical and econometric analysis using state-of-the art machine learning techniques.

Organizes data for analysis and writes computer programs using Python, R, SAS, Stata, Matlab and other software.

Presents results of research to economists and management in oral or written reports.

Writes programs to automate data collection procedures.

Uses knowledge of data sources (such as Haver and RADAR) and data content to determine what source will best provide data for a project.

Initiates, plans, and executes research projects of a limited nature subject to supervising economists' approval.

Designs databases for use in economic research projects and machine learning projects across the bank.

Writes documentation of data sources, algorithms, and statistical tests that have been performed on the data.

Documents procedures and trains junior analysts when required.

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 developments in economics and computer science.

Produces charts and graphs to communicate findings to business lines throughout the bank.

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 degree in computer science, economics, mathematics, statistics, or finance, preferred.

Minimum of two years’ experience in or knowledge about natural language processing and processing large datasets and their related programming skills are a plus.

Knowledge and Skills:

Knowledge of State-of the-art machine learning methods.

Demonstrated ability to apply quantitative techniques in research projects under general supervision.

Ability to use statistical programs, such as Python, R, Stata, SAS, and Matlab, to organize data into files and to perform advanced statistical and econometric analyses.

Ability to quickly find relevant data for research projects and for speeches and presentation visuals.

Strong analytical and problem-solving skills.

Good oral and written communication skills.

Physical Requirements: Must be able to spend long hours working at a personal computer.

To apply: Please upload both a resume and a cover letter to be considered for this position. Please upload your files to the Attachments tab.

The salary grade for this position is 12.

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 $200 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 takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “[email protected]”. If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity. If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at [email protected].

We are an equal opportunity employer committed to hiring the best candidates and to providing equal employment opportunity to all persons without regard to race, color, religion, sex, pregnancy, national origin, age, genetic information, disability, military service, or any other basis protected by law.

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. If you need assistance or an accommodation due to a disability, please email us at [email protected].

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 to ensure compliance with conflict of interest rules and personal investment restrictions.

You will be required to complete a background investigation including drug testing as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be drug screened for the presence of marijuana. Any hiring decision based on a background investigation will be made following an individualized assessment that is job-related and consistent with business necessity and applicable law. Employment may not begin until the Bank accepts the results of the background investigation.

Due to the nature of the information you will have access to, we require that you also complete a more in-depth enhanced background screening (Peraton moderate or high).

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.

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. You will provide work authorization to prove your eligibility to work in the United States.

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.

By applying to this position, you agree you will be available to work on-site in a full-time capacity.

Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.