Company
Federal Reserve Bank of PhiladelphiaThe 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 Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI) is seeking a paid Intern to work with our team. The hourly rate for this position is $21.00 per hour for undergraduate students, $25.00 for graduate students and $28.00 for PhD level students.
Principal Duties and Responsibilities:
The Consumer Finance Institute seeks a well-trained and motivated research intern to support the written and statistical research output of its research fellows in a part-time capacity (with full-time possible during summer). Your primary responsibility will be to assist research fellows with empirical research into consumer finance topics and to report findings verbally and in written form for inclusion in research papers. You will gain experience querying, cleaning, and analyzing very large data sets. Candidates must be a junior or senior undergraduate student; a graduate student; or recent BA/BS/MS graduate; or a PhD student in a quantitative discipline such as economics, computer science, engineering, mathematics, or statistics. Precise job role and work will be tailored to candidate’s experience.
Qualifications/Requirements:
Candidates should have demonstrated research capacity as evidenced by research papers or research assistance employing statistical and/or econometric analysis. Successful applicants will have taken three or more courses in statistics, econometrics, and economics and should be familiar with statistical software such as Stata, R, or Python. Candidates should also be proficient with the MS Office suite. Experience with SQL or Spark a plus.
The ideal candidate will be highly motivated; will possess strong oral and written communication skills.
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].
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 eight 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 eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LGBTQ+ and allies), Talent Forward (supporting career growth), Women United, 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.
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 full 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.
Certain eligibility rules apply. Applicants must be able to provide work authorization to prove their 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.
For summer and nearly full-time engagements, candidates should be able to work on site in a hybrid capacity (at least two days onsite a week). For part-time periods, onsite requirements are negotiable and flexibility is at the discretion of the hiring manager.
Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.
To apply: Please upload your cover letter, resume, and transcript.
About the Consumer Finance Institute:
Launched in 2017, the Consumer Finance Institute builds on decades of research experience at the Philadelphia Federal Reserve Bank. The mission of this Bank-wide initiative is to produce leading-edge research on how credit markets and payment systems affect the economy. The CFI creates opportunities for scholars, the financial industry, and the public sector to collaborate and share insights on fostering healthy household finances, a stable financial system, and a resilient economy.
The core staff of the CFI consists of 15 individuals, including nine Research Fellows. This group produces applied research on consumer finance topics, topical workshops led by regulators, academics, or industry experts, and larger conferences addressing particular questions or developments in the markets for consumer credit and payments. The staff also supports collaboration among researchers and analysts across the Federal Reserve Bank of Philadelphia.
Additional information about the CFI is found at https://www.philadelphiafed.org/consumer-finance
Full Time / Part Time
Part time
Regular / Temporary
Temporary
Job Exempt (Yes / No)
No
Job Category
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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