Research Director - Head of Research & Statistics Group
Federal Reserve Bank of Minneapolis
CompanyFederal Reserve Bank of New YorkWorking at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.
The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.
What we do:
The Research & Statistics Group (R&S) supports the Bank’s mission-critical work relating to monetary policy, banking supervision, payments systems, and financial market issues, contributing to the formulation and execution of policy in each of these areas.
The Research Economists provide analytic support for the New York Fed's core missions and engage in scholarly research on a broad range of topics. They contribute to the formulation and implementation of monetary policy, the supervision of financial institutions, the smooth operations of the payments system, the analysis of the impact of policies on consumers and communities and the way in which the financial system supports economic growth using insights from macroeconomics, microeconomics asset pricing and corporate finance. Areas of research include financial intermediation, monetary policy, household and public policy and financial stability.
The Data & Statistics function provides essential data capabilities to support a safe and sound financial system by managing the collection and quality assurance of financial and organizational data from domestic and foreign financial institutions. These data are used in the implementation of monetary and foreign policy, bank supervision, payments systems, compliance and market monitoring.
Your role as Research Director and Head of Research and Statistics:
The Research Director and R&S Group Head will report to the President and CEO, John Williams, and be responsible for the provision of economic analysis to advise the President as a member of the Federal Open Market Committee.
As a member of the executive committee, they will direct and coordinate the activities of the Group accordance with the Bank Mission, Vision and Values, while also being an active participant in the development of the Bank’s broader strategic efforts. They will inspire, support, and develop a team that is agile and responsive to change, can conceptualize the Bank’s needs, and has the skills to manage and achieve desired results in a highly dynamic environment, while maintaining the highest standards of excellence.
Effectively communicate, advocate, and proactively advance the principles, values, strategy, and priorities of the Bank, bringing managers and leaders along in their understanding and ability to align and execute accordingly.
Partner with colleagues within the Bank and throughout the Federal Reserve System as well as with external stakeholders to identify and address business needs, using influence and empathy to build relationships by earning trust and confidence.
Build on the Bank’s culture of collaboration, diversity and inclusion, and public service in providing an environment that allows employees to grow while being their authentic selves.
Lead and contribute to rigorous analysis of financial policy issues relevant to the Bank’s mandates.
Provide the highest quality service and execution of operational responsibilities and ensure that all governance and control requirements are achieved to the highest standards.
Engage in outreach to the academic and official sector research communities through participation in seminars and conferences, as well as committees and technical working groups. Lead the Bank’s representation in area of expertise for high-profile events and publications.
What we are looking for:
PhD in Economics or Finance.
Prior experience managing, motivating and developing a strong team of Economists of similar scale.
Track record of successful leadership to drive results and proactively manage change in a complex and dynamic organizational, technological, and operating environment.
Broad exposure and expertise in economics and economic research across the disciplines related to the Federal Reserve’s objectives, including monetary and financial economics.
Thought leadership in the field of Economics including published, scholarly research in high-quality, peer-reviewed academic journals.
Demonstrated track record in advancing diversity, equity, and inclusion in the field of Economics.
Salary Range: $425000 - $466000 / year
We believe in transparency at the New York Fed. This salary range reflects a variety of skills and experience candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.
Touchstone Behaviors set clear expectations for leading with impact at every stage of our careers and aspire to achieve in our continued growth and development.
Communicate Authentically: Empathetically engage one another with direct and transparent dialogue and listening. Actively discuss viewpoints with respect and compassion in a timely and candid manner, taking into account verbal and nonverbal cues. Ask questions, learn from each other, and share information widely to move the Bank's work forward.
Collaborate Inclusively: Inspire a diverse and inclusive environment that empowers others to contribute meaningfully. Intentionally bring a diverse set of people together to achieve positive business results.
Drive Progress: Grow and adapt to changing priorities in the Bank. Experiment with new concepts and take appropriate risk to drive innovation. Remain curious and action oriented, navigating through ambiguity and uncertainty to drive outcomes.
Develop Others: Equitably champion, mentor, and develop others to grow professionally. Demonstrate vulnerability and empathy to create a trusted environment.
Take Ownership: Establish an environment of action and excellence by holding self and others accountable to execute to the highest standard.
Our organization offers benefits that are the best fit for you at every stage of your career:
Fully paid Pension plan and 401k with Generous Match
Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
Subsidized Public Transportation Program
Tuition Assistance Program
Onsite Fitness & Wellness Center
The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
This position requires possession of or the ability to obtain and maintain national security clearance, which requires U.S. citizenship.
This is not necessarily an exhaustive list of all responsibilities, duties, performance 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, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.
Full Time / Part TimeFull time
Regular / TemporaryRegular
Job Exempt (Yes / No)Yes
Job CategoryBanking Strategy
Work ShiftFirst (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.