Economist
- Employer
- Consumer Financial Protection Bureau
- Location
- District of Columbia, United States
- Salary
- Salary Commensurate with experience
- Date posted
- Jun 9, 2021
View more
- Position Type
- Jobs Outside Academe, Non-profit & Government Organizations
- Employment Level
- Tenured/Tenured Track
- Employment Type
- Full Time
Economist – Consumer Financial Protection
Bureau
The Consumer Financial Protection Bureau (CFPB) seeks a qualified
candidate to serve as an Economist for a six-month assignment in
the Office of Human Capital (OHC). The incumbent will play a
critical supporting role in CFBP’s efforts to reform its
compensation program. This will include helping CFPB develop a pay
band structure that accurately aligns pay with each employee’s
contributions; promotes consistency in pay across employees with
different skill sets, experiences and responsibilities; and meets
all legal requirements. This assignment will be made a detail under
the Intergovernmental Personnel Act. The selected candidate will
report to OHC’s Director of Compensation.
The anticipated start date is August 1, 2021. The detail is expected to end by January 31, 2022. The work associated with this detail will be performed generally between 9:00 a.m. and 5:00 p.m. EST and can be performed remotely anywhere within the continental US.
DETAIL DUTIES AND RESPONSIBILITIES:
CFPB has been working on comprehensive reform of its employee
compensation program. The goals of this effort include fostering
internal pay equity; supporting fair and effective pay setting
practices; improving transparency regarding how the Bureau sets
pay; and promoting comparability with other federal financial
regulators. In January 2021, CFPB and its employee union, the
National Treasury Employees Union (NTEU), agreed to proceed with
compensation reform via a two-part agency-wide review and reset of
employee salaries. Part one involves collecting and crediting the
work experience of all Bureau staff. This phase is ongoing now, and
the results will form the basis for resetting salaries in part two.
The details for part two – the reset of employee salaries – will be
determined via bargaining when the parties begin negotiations
around September 1, 2021 regarding pay band structure and related
pay setting matters.
The successful candidate will join a team of professionals who have
been leading CFPB’s compensation reform efforts. The candidate will
provide analysis and expert advice regarding potential pay band pay
structures and related issues.
Specific duties include but are not limited to:
• Provide analysis and expert advice regarding pay structure models
and systems
• Provide assistance with data analysis and examine and assist with
developing pay models and projections
• Employ critical reasoning and data metrics to support development
of new pay bands
• Test and develop pay structure models and impacts over time
• Explain complex analytical models to both Management and union
representatives
• Provide broad based analysis and expert advice regarding
potential impacts of pay structures and compliance with legal
requirements
• Creatively develop solutions to complex situations and policy
problems
SKILLS AND CRITERIA:
The desired skills, criteria, and work experience for the position
include:
• PhD in Economics
• Experience advising senior management on pay structure models and
systems;
• Experience applying advanced economic analysis, statistical
analysis and techniques. Specialized experience in labor economics
and developing strategies for accurately aligning pay employee’s
contribution or productivity is particularly helpful, but not
required.
• Experience identifying issues, defining problems, analyzing and
conducting complex data analyses and compensation policy
research;
• Experience collecting and manipulating economic data; producing
statistical data; developing programming modules in SAS ,T-SQL,
STATA, or R.
In addition, the selected candidate must be employed by their
non-Federal organization for at least 90 days in a career position
before entering into an Intergovernmental Personnel Act agreement.
The selected candidate must also seek the approval of their
organization to participate in this assignment.
HOW TO APPLY:
Interested applicants should apply by submitting a brief cover
letter describing their interest along with a resume to Daniel
Shen, Director of Compensation, at
Daniel.Shen@cfpb.gov, with the subject line
“Economist.”
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