The Consumer Finance Institute (CFI) is seeking candidates with expertise in higher education finance, and postsecondary education more broadly, who are interested in conducting applied research, policy analysis, or industry analysis on these topics. Qualified candidates may come from industry, academia, government, consulting, law, policy analysis, or the nonprofit sector. The candidate will support the CFI’s to broadened and deepened research agenda in postsecondary education finance.
The CFI fellows research how people earn, spend, save, and invest, as well as how credit markets and payment systems affect the economy. The goal for this research is to foster a healthy consumer sector, a stable financial system, and a resilient regional and national economy.
NOTE: This is a dual grade posting; the candidate’s job grade and salary will be commensurate with their experience, skills, and education.
The 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, 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.
A successful research fellow combines knowledge of the subject matter, an ability to communicate effectively both orally and in writing, strong analytic skills, and a desire to conduct self-directed research and analysis through to completion. Working with CFI management, fellows are expected to develop their own agenda for research and programming.
While much of the CFI’s written output is directed to a general audience, the CFI also produces technical papers suitable for publication in the best academic journals. The CFI provides resources, such as data, computing access to coauthors, and travel funds to facilitate high-quality research publications.
Each year a research fellow is expected to produce several papers (including a mix of original research and summaries of CFI events) and organize several workshops. Approximately every other year, he or she will lead the organization of a larger conference. Research fellows present the results of their research at conferences directed toward industry, policy, and academic audiences. Fellows may also assist in briefings for senior management of the Bank and for policymakers.
Minimum requirements for the position include extensive knowledge of higher education finance obtained through three or more years of relevant work experience.
An undergraduate degree is required, but an advanced degree in a field such as economics, finance, business, public policy, law, or statistics is preferred. Additional formal training (such as a Ph.D.) will be taken into account when evaluating a candidate’s relevant experience. Candidates should have demonstrated writing, presentation, and analytical skills.
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 17 individuals, including seven 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.
Additional information about the CFI is found at https://www.philadelphiafed.org/consumer-finance
To Apply: Please upload your files to the Attachments tab. Please upload a cover letter, resume/vita, a writing sample, and three professional references. Incomplete applications will not be reviewed.
A requirement of this position is that you will be fully vaccinated against COVID-19 or qualify for a medical or religious accommodation.
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 Bank's Employee 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.
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 permanent residents must sign a declaration of intent to become a U.S. citizen when eligible to do so and pursue a path to citizenship. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a permanent resident and a U.S. citizen and meet other eligibility requirements. In addition, all candidates must undergo an applicable background check and comply with all applicable information handling rules.
This is not a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.