Company
Federal Reserve Bank of Chicago
The Federal Reserve Bank of Chicago is seeking candidates for a senior economist in our Community Development and Policy Studies (CDPS) area. The individual in this position will conduct research and analysis to advance CDPS's strategies for creating opportunity and improving economic outcomes for low- and moderate-income people and communities, particularly in Illinois, Indiana, Iowa, Michigan, and Wisconsin.
Background
Community Development and Policy Studies is part of the Research, Policy, and Public Engagement department of the Federal Reserve Bank of Chicago. CDPS includes community development experts with backgrounds in economics, finance, urban planning, law, bank regulation and other fields who work together to increase opportunity and economic inclusion through rigorous original research and collaboration with a range of public and private organizations. They do this by influencing public policy, publishing original research on policy and practice, convening diverse stakeholders to address current and emerging challenges, and helping to bring development and investment opportunities to underserved communities. Through analysis and stakeholder outreach, CDPS also provides insights about low and moderate income individuals and communities to Federal Reserve monetary policy and regulatory policy deliberations. The Policy Studies team researches and analyzes topics related to community and economic development, such as (but not limited to): racial/ethnic, gender, or other disparities in housing, lending, or labor markets; place-based policies; economic mobility; income inequality; mortgage markets; consumer financial products and regulation; household balance sheet decisions; federal, state, and local tax and spending policies and their effect on low- and moderate-income households and neighborhoods.
Job Summary
You will report to the Assistant Vice President for Policy Studies and will conduct independent analysis of and research on financial and economic policy issues, particularly as they relate to community economic development. You will convey research and analysis results to relevant internal stakeholders at the Bank as well as to the general public and policy community through policy-oriented publications and presentations.
Your Responsibilities

• Conduct independent analysis of and research on complex issues related to financial and economic policy, particularly they relate to community economic development and how macroeconomic and financial developments are affecting low- and moderate-income households and neighborhoods.
• Identify relevant economic topics and apply the appropriate or state-of-the-art analytical methods to deliver high quality, defensible policy insights on issues related to community and economic development, such as (but not limited to):

• Racial/ethnic, gender, or other persistent disparities in housing, lending, or labor markets
• Place-based policies
• Economic mobility and income inequality
• Mortgage markets
• Fintech, mobile banking/payments, innovations in consumer financial products, financial inclusion, the Community Reinvestment Act
• Debt-side of consumer finance, such as payday loans or student loans
• Effects of internet access on financial well-being, digital divide
• Financial literacy, financial education, including disparities and interventions
• Federal, state, and local tax and spending policies and how they affect economic opportunities for low- and moderate-income households and neighborhoods
• Apply highly specialized and technical research skills to assess current economic and financial conditions and how they affect low- and moderate-income households and neighborhoods
• Publish findings internally and externally, including in Bank publications
• Brief senior Bank and Federal Reserve officials on community development topics
• Attend conferences/workshops/symposiums to participate in panels, give presentations, and offer thought leadership
• Contribute to a highly collegial research environment
• Direct the efforts of research assistants and analysts

Your Background

• You have published original research in an area related to community development
• You have applied the research literature to develop evidence-based frameworks for policy and/or for practical solutions to community development challenges
• You have made significant contributions in the area of policy analysis and research as evidenced by impact on the policy process
• You are skilled at collaborating with diverse colleagues to create and deliver community development strategies
• You are a strong communicator who is able to reach diverse audiences
• You have an advanced degree in economics, finance, public policy, or a related social science.

What we offer

• Comprehensive benefits package include medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off, transit benefit, onsite gym and subsidized cafeteria
• A continuous learning environment with opportunities to gain new skills and grow your career

Requirements

• All Federal Reserve Bank of Chicago employees must be fully vaccinated against COVID-19, and receive a booster shot within 30 days of being eligible to do so, unless the Bank grants an accommodation based on medical condition or sincerely held religious belief.
• As a condition of employment, Federal Reserve Bank of Chicago 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 official if necessary
• 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 theysign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.
• In addition, all candidates must undergo applicable background checks 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.

Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Economics/Research
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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