Research Analyst, Regional Analysis I/II

Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.

We’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

The Federal Reserve Bank of Cleveland serves the Fourth Federal Reserve District, which comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It is one of 12 regional Reserve Banks that, together with the Board of Governors in Washington DC, make up the Federal Reserve System, the central bank of the United States.

The Bank’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payments systems to promote optimal economic performance across the country and within the Fourth District.

The Research Department conducts policy analysis and provides long-term strategic thinking on issues related to monetary policy, the national economy, and the region. Research Analysts contribute to the Research Department by: (i) supporting the research and outreach of the Bank’s economists and officers, (ii) contributing to Bank publications, (iii) maintaining indicators on the Bank’s website, and (iv) supporting policy briefings for the Bank’s President (before meetings of the Federal Open Market Committee). This role will have a strong focus on the region’s economy.

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 not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

Essential Accountabilities

• Conducts in-depth directed research and analysis for internal and external publications and presentations.

• Provides in-depth support for policy briefings to inform Bank senior management and the Board of Directors.

• Maintains indicators on the Bank's external website with minimal oversight.

• Gives speeches on the economy to medium-sized groups.

• Collects and completes in-depth analysis of anecdotal data from contacts in the District.

• Proofreads and checks speeches for senior management.

• Leads the recruitment and training of new team members.

• Attends department seminars and training sessions to enhance economic knowledge and develop technical skills.

• Performs other duties as assigned or requested.

Education and Experience

Research Analyst I

• Bachelor’s degree with emphasis in economics or a closely related field, such as public policy, finance, statistics, mathematics, or computer science. 
• Working knowledge of econometrics and/or statistics packages, such as Stata or R.
• Excellent oral and written communication skills, including the ability to conduct phone interviews and to clearly capture in writing conversations or discussions about the economic environment.
• Prior research experience in economics preferred. 

Research Analyst II

• Bachelor’s degree with emphasis in economics or a closely related field, such as public policy, finance, statistics, mathematics, or computer science. 
• 2 years of work-related experience
• Working knowledge of econometrics and/or statistics packages, such as Stata or R.
• Excellent oral and written communication skills, including the ability to conduct phone interviews and to clearly capture in writing conversations or discussions about the economic environment.
• Prior research experience in economics preferred. 

Application Requirements:

• Resume
• Transcript
• Writing sample (related to economics, public policy, or finance) 
• Code sample

The expected starting salary range for the Research Analyst, Regional Analysis I is between $59,600 and $74,500 and for the Research Analyst, Regional Analysis II is between ​$66,100 and $82,600 annually. Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and market data.

The Cleveland Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.clevelandfed.org/careers

Physical Demands and General Working Conditions            

This is not necessarily an exhaustive list of all responsibilities, duties, standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time. 

Reasonable Accommodation Statement - The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided with reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to [email protected].

Bank’s Ethics Rules and Drug Testing:

As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions.  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.

Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels

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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