Research Assistant/Sr. Research Assistant

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.

Research assistants (RAs) play a key role in the Economic Research Department. Whether they are helping economists prepare briefings on current monetary policy issues, working on economic forecasts, writing some of our newsletters on economic conditions, or analyzing data for long-term research projects, RAs are an essential part of our team. The department is organized into four sections: Macroeconomics, Banking, Consumer Finance Institute, and Regional/Microeconomics. Within these sections, our economists conduct innovative research on monetary policy, macroeconomics, banking and finance, financial services regulation, payments, regional and urban economics, and other aspects of central banking. By working with economists on these research projects, RAs fully experience all stages of the economic research process.

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.

The salary grade for this position is: 8/10. Final salary and offer will be determined by the applicant's background, experience and skills, as well as internal equity and alignment with market data.

NOTE:  The start date for this position will begin in the Summer of 2027!

To Apply: Please attach your cover letter, resume, and unofficial transcript to the Attachments tab. We may ask for 2 letters of recommendation, but, please do not have them sent until requested by the hiring team.

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. 

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.

Undergraduate or graduate degree in economics, mathematics, or statistics

Coursework in econometrics or advanced statistics

Programming experience, preferably in STATA, R, Python and/or Matlab 

    

Responsibilities include:

Assisting economists with statistical and econometric analysis for long-term, academically oriented research projects.

Assisting economists with reports and presentations on current economic and financial conditions for pre-FOMC briefings

Producing various Bank publications for public consumption 

    

On a day-to-day basis, RAs are expected to:

Identify and collect data or other information from academic journals, market sources, and government reports

Write computer programs using statistical software such as Stata, R, Python, Matlab, and/or SAS

Review, organize, and analyze economic and financial data

Write or help prepare reports and presentations in the form of graphs or tables

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

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.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.
• 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.

#LI-Onsite

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 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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