Federal Reserve Bank of Richmond

Position Title/Short Description

Full Text of JOE Listing:

Job Title: Quantitative Research Analyst / Data Scientist
Requisition: 267633
Location: Charlotte, NC

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 careers in a variety of fields, 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!

About the Opportunity

The Supervision, Regulation and Credit (SRC) Department, Quantitative Supervision and Research (QSR) Group of the Federal Reserve Bank of Richmond is looking for a Quantitative Research Analyst (QRA). The QRA will be based in Charlotte and report to a Senior Manager.

In this role, the QRA:
• Conducts independent reviews of risk measurement models used by large, complex, and specialized banking organizations
• Performs financial and quantitative analysis and applied research using latest econometric and machine learning techniques
• Participates in risk assessments and supervisory events at large financial institutions
• Advises senior management on policy issues related to the regulation of banks and financial markets
• Prepares reports on current and emerging supervisory issues, and conducts examiner training
• Plays an integral role in developing Suptech (Fintech for regulators) capabilities, including understanding and using AI and ML techniques

What You Will Do:
• Participate in bank supervisory process by providing comprehensive quantitative expertise and complex analysis on emerging risk management practices in industry, conducts targeted reviews of banks’ application of tools utilized to monitor and mitigate risk
• Perform comprehensive analysis on historical and supervisory data of financial institutions in support of ongoing examinations, initiatives, and projects
• Provide regular briefings of current issues to all levels of management, interact with stakeholders of community and regional, and large banks, other regulatory agencies, and industry
• Active contributor and technical resource in support of activities such as technical workgroups and the SRC Critical Issues process, providing content, analysis, and project leadership

Qualifications:
• Minimum 3 years of relevant work experience, with moderate experience leading large projects in a team setting
• Significant work towards Masters’ degree, MBA, or ABD in relevant discipline
• Relevant experience in R, Python, SAS, or equivalent languages and an ability to code in a team environment such as GitLab
• Demonstrated ability in several areas of data modeling, visualization and wrangling, machine learning, Natural Language Programming, and econometric analysis

Discover the Reason Why So Many People Love It Here!
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
• 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:
• An applicant posting for employment as a Federal Reserve examiner/analyst must be a U.S. citizen or hold a permanent residence visa/Green Card and be an intending citizen.
• Under conflict of interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.
• Please review the FRB Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests. (The Code is available on the About Us, Careers webpage at www.richmondfed.org (relevant sections are 5.3 and Appendix B, Parts I, II and III).
• FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:
o Their borrowing relationships (Appendix B Parts I.1, II.1 and II.2)
o If a financial institution employs a member of the employee’s immediate family (i.e. spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3)
o If the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).
• In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee.
• Selected candidate is subject to special background check procedures.
• Title and salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience. For a Charlotte, NC or Richmond, VA based hire:
o The Quantitative Analyst - Intermediate hiring range is $95,400 - $119,300, annually.
o The Quantitative Analyst – Senior hiring range is $113,100 - $141,100, annually.
• Applications are reviewed on a rolling basis. Interested candidates are strongly encouraged to apply by TBD (2 week minimum).

The Federal Reserve Bank of Richmond provides equal opportunity to all individuals without regard to race, sex, color, religion, gender identity or expression, sexual orientation, national origin, age, disability, or genetic information.