Community Development Economic Advisor

Economic development officer

Job title: Community Development Economic Advisor

Company: Federal Reserve Bank

Job description: Company Federal Reserve Bank of PhiladelphiaThe 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 and bank and 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.You will conduct independent applied research and produce original research reports on topics relevant to community development, consumer credit and payments, economic and personal financial education, including the effectiveness of each.You will work with a high degree of independence in areas of expertise and contribute to the Reserve Bank’s objective of becoming a knowledge center by writing, giving speeches and talking to outside audiences, and by contributing to Reserve Bank research projects. Published works may include collaborative efforts with other Department or Bank staff, colleagues in other Reserve Banks, policy makers or academics.You will develop relationships with other researchers and practitioners in the areas of community development, consumer credit and payments, and economic and personal financial education.Job Description:65%

  • Conducts independent applied research and produces original research reports on community development, consumer financial products, and financial education.
  • Takes an active role in planning and directing the department’s research agenda.
  • Recommends, initiates, plans and executes research projects with a high degree of independence in area of expertise.
  • Coordinates research projects and directs research activities of other staff, as assigned.
  • Provides an ongoing output of written reports and analyses for publication on department’s website and in department’s discussion papers, periodic newsletters, and external sources. These include original research, as well as conference or workshop summaries.
  • Prepares and delivers speeches in area of expertise within the Bank and to external audiences, including academics, bankers, government agencies, nonprofit organizations, and congressional staff in the Third District and nationally.
  • May assist the department officer, senior management, and other staff in the preparation of their speeches.


  • Monitors and collects technical information related to community development, consumer credit and payments, and personal financial education, and the overall economy from a variety of sources including trade publications, web-based news sources, and computer databases and informs staff of findings. Supports other research or project initiatives within the Reserve Bank that advance the department’s mission and that of the Bank as a whole.
  • Develops and maintains contact with other researchers and practitioners in the areas of community and economic development, consumer finance products, and financial education as a source of information and data to support the department’s research agenda.


  • May assist department management with selection and hiring of new research support staff.
  • May make training recommendations and mentor support staff on research projects. May participate in performance evaluation of support staff.
  • Actively involved in the accomplishment of departmental and/or Bank-wide quality initiatives by being a department coordinator, team leader, or team member.
  • Fulfills job duties and responsibilities in conformance with sound safety practices.
  • Performs other related duties as assigned.

Knowledge and Skills:

  • Exceptional skills in research methodologies and analytical analysis.
  • Thorough knowledge of and ability to independently apply economic theory and quantitative techniques.
  • Strong knowledge of information management techniques.
  • Strong knowledge of financial and economic data and financial institutions typically acquired through related work experience.
  • General knowledge of banking and bank regulations. Excellent oral and written communication skills.
  • Ability to give oral presentations to management and other internal and external audiences.
  • Strong analytical, problem solving, and leadership skills.
  • Strong organizational and planning skills; strong ability to manage multiple projects under deadlines and build effective teams.
  • In-depth PC skills and knowledge of the data services subscribed to by the department.
  • In-depth knowledge of PC and mainframe statistical programs, such as SAS, EViews, SPSS, and STATA, to organize data into files and to perform advanced statistical and econometric analyses.
  • Knowledge of the Bank’s standard office software.
  • Strong interpersonal skills and team player in a collaborative environment.
  • Ability to work with high degree of independence.

Education and Experience:

  • Master’s degree in economics, city planning, community development, statistics, or another quantitative social science discipline required.
  • Minimum of 5 to 10 years of relevant research related experience required in the area of community development and/or economics.
  • Previous experience in giving speeches and presentations on community development or related economic topics a plus.

Other Requirements:

  • Self-starter with inquisitive mindset, able to propose new ideas and set project goals.
  • Ability to travel both within and outside the 3rd district, including some overnight travel.
  • Must have a valid driver’s license.

The for this position is 16.We offer a great benefits package that features:Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period401k/Thrift Plan with generous employer matchEmployer-funded Pension PlanPaid Vacation/Sick Time & HolidaysMonthly $100 Commuter AllowanceFlexible Spending Accounts and Healthcare Spending AccountsFlexible Work Schedule available in most departmentsLife Insurance and Long Term Disability InsuranceTuition Reimbursement (undergraduate and graduate)Parental LeaveFree onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilitiesOnsite Cafeteria & Coffee ShopAdditional Convenience Benefits, Discounts and More…Additional Information:The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.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 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.All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.Certain eligibility rules apply. You will provide work authorization to prove their eligibility to work in the United States.The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.This is not a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.Learn more the Philly Fed and its culture. Learn more about for the Philly Fed.Full Time / Part Time Full timeRegular / Temporary RegularJob Exempt (Yes / No) YesJob Category Communications/Public RelationsWork 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.

Expected salary:

Location: Philadelphia, PA

Job date: Fri, 12 Apr 2024 00:14:01 GMT

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