Job Description:

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 Consumer Finance Institute (CFI) is seeking candidates with expertise in consumer finance and payments industries who are interested in contributing to the Federal Reserve’s mission of fostering a healthy consumer sector, a stable financial system, and a resilient regional and national economy.

Qualified candidates may come from industry, consulting, or government as well as from academia or nonprofits.

You will help inform our understanding of how people earn, spend, borrow, save, and invest, as well as how credit markets and payment systems affect the economy. This is accomplished through written publications, engagement with those in or studying the marketplace, and convenings of practitioners, policymakers, consumer advocates, and academics.

The job description below is a dual grade job posting.  Candidates who possess a slightly higher level of experience, education, or qualifications may also be considered.

Job Description:

As a successful senior research fellow, you will combine knowledge of the subject matter; have an ability to communicate effectively both orally and in writing; possess strong analytic skills; have a highly collaborative approach; and a desire to conduct self-directed projects through to completion.

You will produce studies that contribute to the general knowledge about the consumer finance ecosystem. These studies may be research briefs or special reports (narrowly focused reports intended for a wide audience), discussion papers (more detailed topical analyses of consumer finance issues), and working papers (highly technical economic and academic topics).  See here for examples of CFI published studies.

You will engage and collaborate with industry experts, policymakers, and academics in a variety of ways. You may host an expert for a presentation at the Phila Fed, present your own research at external conferences, collaborate with colleagues on joint research, or organize a larger conference that will typically include a mix of attendees from industry, academia, and policy circles.

You will identify topics for study using your own experience, input from your existing networks and foster new relationships with researchers and practitioners within the space. 

You may also assist in briefings for senior management of the Bank and for policymakers on topics important within the Federal Reserve System.

Requirements:

Minimum requirements for the position include extensive knowledge of consumer credit and payments obtained through three or more years of relevant work experience. An undergraduate degree is required, but an advanced degree in a field such as finance, business, public policy, law, economics, or statistics is preferred.

Additional formal training (such as a Ph.D.) will be taken into account when evaluating a candidate’s relevant experience. You should be able to demonstrate writing, presentation, and analytical skills.

About the Consumer Finance Institute:

The Consumer Finance Institute studies credit and payment markets to understand how they affect consumers and the economy. We produce state-of-the-art, policy-relevant research available to all. We also convene academic experts, the financial industry, and the general public to collaborate on research and generate insights into fostering healthy household finances, a stable financial system, and a resilient regional and national economy. Additional information about the CFI may be found at https://www.philadelphiafed.org/consumer-finance/about-the-consumer-finance-institute

To Apply:

Go to https://www.philadelphiafed.org/careers and find the “Research Fellow” position.  Please upload a cover letter, resume/vita, a writing sample, and three professional references. Incomplete applications will not be reviewed.

The salary grade for this position is: 18/19. Final salary and offer will be determined by the applicant’s background, experience, and skills, and internal equity and alignment with market data.

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 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 “rb@myworkday.com”.  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 TalentAcquisition@phil.frb.org.




• 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 nine 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 nine 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, Latin and Hispanic Heritage, 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. If you need assistance or an accommodation due to a disability, please email us at TalentAcquisition@phil.frb.org.




• 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.




• 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.




• 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. Certain eligibility rules apply. 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.




• This is NOT a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.




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

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Economics/Research Family Group

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.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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