Research Analyst (Charlotte, NC) Job at Federal Reserve Bank of Richmond
Company
Federal Reserve Bank of Richmond
At the Richmond Fed, we’re driven by our mission to strengthen the economy and our communities. We take great pride in what we do, and how it impacts the people in our district. When you join our team, you’ll become part of a culture that welcomes differences, cares about our communities, and empowers each other to lead from where we are to make things better. Bring your passion and we’ll provide challenging and purposeful careers in a variety of fields, opportunities to grow and a wide range of benefits and perks that support your health and wealth. It’s all part of what makes #MyRichmondFed a great place to work!
The
Quantitative Supervision & Research (QSR)
unit of the Supervision, Regulation and Credit (SRC) Department is looking for a highly motivated individual to assist financial economists and quantitative analysts with academic research, analytical projects, and supervisory initiatives.
The Research Analyst (RA) will perform economic and statistical analyses using standard econometric/data storage software to support our economists’ research initiatives with the chance to co-author analytical products and research papers, and more generally will contribute to our financial supervision mission. The RA will report to a QSR Manager.
We are looking for candidates with diverse backgrounds, interests, and perspectives. During the two to three years our RAs spend in QSR, we provide them with formative development opportunities in a culture that promotes knowledge sharing through collaborating on the job and by hosting seminars and brown bags. Our RAs develop banking/regulatory knowledge and expand their quantitative toolkit through hands-on assignments, self-study, and formal training. Our RAs also get the opportunity to work with a wide range of financial datasets, including confidential data. We provide a friendly and quantitative-oriented environment where RAs can learn, grow, and develop their own skills and interests, while contributing to our supervisory and research projects.
Application Requirements:
Please submit the following three documents in the Attachments/Resume/Cover Letter section of the application (please be sure to include ALL required documents listed here):
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Resume (CV)
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College transcripts (unofficial copies are okay at this time)
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Cover letter stating why you are interested in the job, why you are a good match for the job, and how the RA experience will fit in your future career
***Note that in the next step the system will prompt you to upload your resume only, but you should upload all three documents in that step.
What You Will Do:
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Assist economists in long-term academically oriented research projects
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Perform economic, financial, econometric, and statistical analyses; organize data for analysis and write computer codes using mathematical and statistical software such as R, Stata, Matlab, SAS, and Python. If required, learn additional software packages and database systems.
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Review literature on research topics, determine what information is relevant to the project and provide economists with summaries of findings, both orally and in writing.
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Proofread/edit papers’ drafts.
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Co-author research papers with economists if the opportunity arises.
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Assist economists and quantitative analysts in current supervisory projects
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Download and assemble data; prepare charts and tables; create and maintain spreadsheets; use statistical, econometric, and other software packages to perform analyses and model estimation and simulations; and assistance in preparing memos and presentations.
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Perform more general research and analysis on topics related to the economy, financial markets, banking, and bank supervision.
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Proofread/edit drafts of memos, reports, papers, and other regulatory documents.
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Gather data and write documentation of data sources and statistical tests that have been performed on the data.
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Co-author analytical work with economists and analysts.
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Contribute to other QSR activities
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Assist on ad-hoc requests by performing other duties as assigned or requested
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Provide organizational support to ongoing QSR initiatives (such as critical issues surveillance, web redesign, and business intelligence). Prepare draft memos for department senior economists and managers.
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Actively participate in the QSR seminars, team meetings and conference calls. Participate in System and industry training courses/workshops/conferences and communicate emerging trends, commonalities, and key "take-aways" to economists and managers.
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Qualifications:
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Bachelor’s degree with considerable coursework in economics and/or finance, mathematics, and statistics. A minimum GPA of 3.0 or higher is strongly preferred.
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A minimum of one (1) year of relevant research experience in a research position.
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A Master’s degree in economics, finance, data science, statistics, or a related field is highly desired.
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Academic success in econometrics, mathematics, statistics, finance, economics, and banking courses.
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Strong coding, data, and analytical skills: Experience in at least two statistical software (preferred R, Stata, Matlab, Python), in data manipulation and statistical analysis.
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Strong writing and communication skills: Experience with spreadsheet/presentation software, including preparing summary charts, graphs, and tables.
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Able to balance multiple responsibilities and work well under pressure; self-driven and able to work independently.
Discover the Reason Why So Many People Love It Here!
When you join the Richmond Fed, not only will you find a challenging and purposeful career, you will also have access to a wide range of benefits and perks that support your health and wealth, including:
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Great medical benefits
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Pension and 401(k) with employer match
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Paid time off
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Tuition reimbursement
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Employee resource networks
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Paid volunteer leave
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Flexible work options
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Onsite amenities that make working here fun
Other Requirements and Considerations:
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An applicant posting for employment as a Federal Reserve examiner/analyst must be a U.S. citizen or hold a permanent residence visa/Green Card and be an intending citizen.
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Under conflict of interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.
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Please review the FRB Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests. (The Code is available on the About Us, Careers webpage at www.richmondfed.org (relevant sections are 5.3 and Appendix B, Parts I, II and III).
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FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:
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Their borrowing relationships (Appendix B Parts I.1,II.1 and II.2).
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If a financial institution employs a member of the employee’s immediate family (i.e spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3).
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If the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).
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In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee.
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Selected candidate is subject to special background check procedures.
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Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience.
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The Research Analyst – Intermediate hiring range is $62,000 - $77,000 annually.
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A requirement of this position is that the employee must be fully vaccinated against COVID-19; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Economics/Research
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.
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