Quantitative Analyst

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

IT
Multiple locations
Posted on Wednesday, July 12, 2023

Company

Federal Reserve Bank of RichmondWhen you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.

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 Quantitative Supervision and Research (QSR) unit within the Supervision, Regulation, and Credit Department of the Federal Reserve Bank of Richmond has an immediate opening for a Quantitative Analyst. QSR is responsible for using quantitative analysis and research for banking supervision across the 5th District and the Federal Reserve System. We’re looking for a candidate to join a collaborative team consisting of financial economists and quantitative analysts. Quantitative analysts at the Bank are expected to participate in supervisory work at large banking organizations, contribute to Federal Reserve System projects related to variety of quantitative topics such as stress test modeling, analyzing financial institution portfolios, and model risk management. Salary and benefits are competitive and hybrid work arrangements are available. The primary location for this role is Charlotte, NC.


With your application, please submit a resume, and 2 – 3 coding samples. Coding samples are most helpful if they are solo-authored and represent R, Stata, Python, SAS, or Matlab solutions.

What You Will Do:

  • Engage in developing and applying quantitative models for the Federal Reserve’s stress testing program.
  • Participate in on-site reviews and examinations related to banks’ use of quantitative modeling.
  • Design and manage quantitative models and large and complex datasets utilizing tools such as R, Stata, Python, Matlab, SAS, and a High Performing Cluster Computer Environment. When required, learn additional software packages and database systems
  • Collect, manipulate, and analyze data from large databases.

Qualifications:

  • Strong quantitative skills, strategic and creative thinking, excellent communication skills, and the ability to quickly adapt to new and changing regulatory and financial industry environments.
  • A master’s degree (or equivalent experience) in a quantitative discipline such as economics, engineering, mathematics, quantitative finance, statistics, or data science
  • Experience programming in languages such as R, Stata, Python, Matlab, or SAS
  • Experience in managing and analyzing large data sets
  • Experience in developing or validating quantitative models
  • Ability to present technical issues to nontechnical audiences and to clearly articulate findings verbally and in writing
  • Strong interpersonal skills with the ability to work effectively on a team in a hybrid work environment and collaborate with peers across the system, participating on system workgroups and projects.
  • Occasional Travel is required

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.
  • Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
  • 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 not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.
  • In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.
  • 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 Bank’s Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests (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:
    • Their borrowing relationships (Appendix B Parts I.1, II.1 and II.2)
    • 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)
    • 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’s job responsibilities.
  • The hiring range of the Analyst – Quantitative – Assoc is $88,200 – $121,220 annually.
  • The hiring range of the Analyst – Quantitative – Int is $103,700 – $142,560 annually.
  • The hiring range of the Analyst – Quantitative – Sr. is $122,500 – $168,410 annually.
  • Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.
  • Applications will be reviewed on a rolling basis. Interested candidates are strongly encouraged to apply by July 25th, 2023.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Bank Examination

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.

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