Job Information
Federal Reserve System Research Associate, Research - Start date Summer 2024 in Richmond, Virginia
Company
Federal Reserve Bank of Richmond
When you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with leading tech professionals to strengthen and protect our economic, financial and payments systems. We invest in contemporary and emerging technology each year to support the Federal Reserve and our economy, and we’re building a dynamic and diverse team for our future.
Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.
About the Opportunity
The Research Department of the Federal Reserve Bank of Richmond is looking for highly motivated recent graduates to assist economists with policy-oriented and academic research full-time for 24 months starting in the summer of 2024.
We are looking for candidates with diverse backgrounds, interests, and perspectives. During the two years they spend in the Department, we mentor our Research Associates (RAs) and provide them with many opportunities to learn, in their daily work interactions with economists and other RAs, as well as attending seminars and lectures, and giving presentations in RA-led study groups. We provide a friendly and academically oriented environment where RAs can learn, grow and develop their own skills and interests, while contributing to our policy and research projects.
What You Will Do:
Each of our RAs is assigned to support two or three economists with their academic research. Projects cover a wide range of topics (including general equilibrium macroeconomic models, time-series econometrics, labor economics, financial economics, contract theory, public and health economics, industrial organization, and regional economics). Responsibilities include writing computer code to solve dynamic economic models or analyze time-series and panel data, literature reviews, and helping with model derivations. RAs also use these tools to assist in the preparation of policy briefings. RAs may be asked to add new long-term projects to their responsibilities or collaborate in short-term tasks during their two years, depending on the economists needs and on their performance. The position is an excellent opportunity for students interested in pursuing graduate studies in economics.
Visit us online for more information about the Research Department (https://www.richmondfed.org/research) and the RA program (https://www.richmondfed.org/about_us/careers/students_and_recent_graduates/research_associates) .
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):
Resume (CV)
College transcripts (unofficial copies are okay at this time)
Cover letter stating why you are a good match to the job, how you became interested in research, what diverse perspective you hope to bring into the profession, and how the RA experience will fit into your future academic or professional career. As an optional addendum to the cover letter, if relevant, you are also encouraged to explain anything unique about your education history (a transfer of schools, irregularities in your grades, or explaining what certain classes are on your transcripts). Although there is no length limit for the cover letter, addressing these issues should not take more than 250 words.
*Note that you should upload all three documents in the step where the system will prompt you to upload your resume.
Applications are reviewed on a rolling basis. Interested candidates are strongly encouraged to apply by February 18, 2023, to be considered for screening interviews the week of February 26th and decisions on offers by early March, though the position will remain open until all openings are filled.
Qualifications:
We are seeking candidates with a Bachelor’s degree and extensive coursework in economics (preferred), mathematics (required), and statistics. Applicants must have a GPA of 3.3 or higher. Experience with computer programming and statistical analysis software packages (such as Matlab, Stata and R) is highly valued. Strong oral and written communication skills are required. Evidence of interest in research in the form of previous work experience as a research assistant, or completion of a senior thesis, is a plus.
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’ll also have access to a wide range of benefits and perks that support your health and wealth, including:
Annual salary of $61,000
Great medical benefits
Pension and 401(k) with employer match
Generous paid time off
Tuition reimbursement
Employee resource networks
Paid volunteer leave
Flexible work options Onsite amenities that make working here fun
Other Requirements and Considerations:
Candidates should review the Bank’s Employee Code of Conduct (https://www.richmondfed.org/-/media/richmondfedorg/about_us/careers/pdf/code_of_conduct.pdf?WT.si_n=Search&WT.si_x=3) to ensure compliance with conflict of interest rules and personal investment restrictions.
If you need assistance or an accommodation due to a disability, please notify rich.recruitment@rich.frb.org .
Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
Candidates must be U.S. citizens or Green Card holders, since sponsorship or practical training extensions are not available for this position.
Selected candidate is subject to special background check procedures.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
No
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.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us:
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.