Federal Reserve Bank of Philadelphia
The Financial Monitoring Group (FMG) within the Supervision, Regulation and Credit (SRC) department seeks a motivated quantitative specialist/financial economist to support the monitoring of retail credit risk for the nation’s largest banks. FMG is a unit of the Risk Assessment, Data Analysis and Research (RADAR) group in SRC, which manages the largest collection anywhere of data on U.S. consumer finance and securities markets.
FMG supports large bank supervision through the identification of emerging trends in retail credit using detailed confidential supervisory data. The group also provides quantitative and examination support to Federal Reserve System activities and groups, including the annual Comprehensive Capital Analysis and Review (CCAR) assessment, the Dodd Frank Stress Test (DFAST), the Large Institution Supervision Coordinating Committee (LISCC), and the Large and Foreign Banking Organization (LFBO) management group.
The successful candidate will have retail credit experience, a technical background to conduct modeling and/or research, intellectual curiosity in analyzing rich sources of data on large banks, and the ability to tell the story behind this data in written reports or published research. The ability to manipulate and perform analysis of large datasets is required and experience with a data visualization tool, such as Tableau, is a plus. Finally, the candidate should have strong communication skills and project management skills.
Applicants with an advanced degree in finance, economics, mathematics, statistics or a related quantitative field will be considered for the quantitative specialist position. Applicants with a completed PhD or a firm expectation of defending their PhD by summer 2022 will be considered for the financial economist position.
To be considered for the position, please submit a resume and cover letter.
About the 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.
We offer a great benefits package that features:
- Medical (4 options), Prescription, Dental (3 options), and Vision Insurance
- 401k/Thrift Plan with generous employer match
- Employer-funded Pension Plan
- Paid Vacation/Sick Time & Holidays
- Monthly Commuter Allowance
- Flexible Spending Accounts and Healthcare Spending Accounts
- Flexible Work Schedule available in most departments
- Tuition Reimbursement
- Parental Leave
- 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…
To see the full job description, click the link:
To apply, click here to find the Financial Economist/Quantitative Specialist opening.
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.
- 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.
- A requirement of this position is that you will be fully vaccinated against COVID-19 or qualify for a medical or religious accommodation.
- 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.
- 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 the Philly Fed and its culture. Learn more about working for the Philly Fed.
Full Time / Part Time
Regular / Temporary
Job Exempt (Yes / No)
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.