Research Associate - Washington, DC - Federal Reserve Bank (FRB)

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 a highly motivated recent graduate to assist economists with academic research full-time starting in the spring of 2025.  The research will specifically use Census restricted data that must be accessed in person at a Federal Statistical Research Data Center (RDC) location in Washington, DC. The Research Associate (RA) will interact virtually with the Research department’s cohort of RAs, who will be located in Richmond. The RDC RA will interact regularly on site in DC with the Richmond economists using the Census data, and one other Richmond Fed RA working at the Census. RDC RAS are expected travel to Richmond for onsite engagements as part of the department’s core meeting weeks, which occur 8 times per year (travel and lodging expenses will be reimbursed).  

We are looking for candidates with diverse backgrounds, interests, and perspectives. During the two years they spend in the Department, RAs receive direct mentorship from Research economists and a multitude of opportunities to learn through economist and RA interactions and projects. RAs also regularly attend seminars and lectures and give 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:

You will support economists working in Labor and Industrial Organization topics with their academic research. Responsibilities include analyzing large panel data, writing computer code to solve dynamic economic models, conducting literature reviews, and helping with model derivations. Working at the Census requires strong coding skills due to limited availability of online help and requires independence and willingness to work regularly in a temporary computer station with different and few researchers around each day. The position is an excellent opportunity for students interested in pursuing graduate studies in economics, and in particular for those with an interest in working with big data.

Visit us online for more information about the Research Department and the RA program.

Application Requirements:

Please submit the following four 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, please address this in no more than 250 words.

***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.

Applications are reviewed on a rolling basis. Interested candidates are strongly encouraged to apply early.

Qualifications:

We are seeking candidates with a Bachelor’s degree and extensive coursework in economics (preferred), mathematics (required), and statistics and econometrics (required). Applicants must have a GPA of 3.3 or higher. Experience with computer programming and statistical analysis software packages (such as Python, Stata and R) is highly valued. Experience with parallelization or longitudinal data is a plus. Strong oral and written communication skills are required. A high level of integrity and critical decision making while working independently is needed for this position. 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!

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 it impacts everyday people every day. 

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 work, 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!

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:

• 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 to ensure compliance with conflict of interest rules and personal investment restrictions.  The Code is available on the About Us, Careers webpage at www.richmondfed.org.
• 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.
• ​Applications are reviewed on a rolling basis. Interested candidates are strongly encouraged to apply by November 15th to be considered in the first round of interviews, but the position will remain open until it is filled.
• The hiring salary for this role will be $64,050.00 annually.
• 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

Temporary

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.

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.

Privacy Notice