Principal Business Economist/Regional Policy Advisor

CompanyFederal Reserve Bank of Chicago

The Federal Reserve Bank of Chicago is one of 12 Reserve Banks that, along with the Board of Governors in Washington, D.C., constitute the Federal Reserve System, which was established by Congress in 1913.
The fundamental mission of the Federal Reserve System is to foster the stability, integrity and efficiency of the nation's monetary, financial and payment systems and to promote optimal economic performance.
To this end, the Federal Reserve Bank of Chicago serves the public interest by participating in the formulation and implementation of national monetary policy; supervising and regulating state member banks, bank holding companies and foreign bank branches; providing financial services to depository institutions, designated financial market utilities, and the U.S. government; and promoting consumer protection and community development.
The Chicago Fed serves the Seventh Federal Reserve District, a five-state region comprising all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin.
As a Regional Policy Advisor and senior member of a collegial team, you will play a critical leadership role in supporting monetary policy and outreach by gathering and sharing information about the regional economy and its key sub-geographies and sectors, such as manufacturing, agriculture, automotive, and industrial cities. You will serve as a recognized expert on regional economic conditions and sector-specific trends, providing strategic insights that inform monetary policy decisions. You will work with policy professionals across the Chicago and Detroit offices, leading high-level engagement with different constituents, representing the Bank at major conferences and events, and mentoring junior team members in economic analysis and outreach activities.
This position applies advanced knowledge of regional economics, qualitative and quantitative research methods, and deep expertise in at least one key District industry or geography. The incumbent works independently with minimal supervision and provides guidance to less experienced team members. This position may have project leadership responsibilities but does not have direct reports.

Your Responsibilities

• Gathers timely economic intelligence through planning and facilitating economic roundtables (the team conducts approximately 32 per year), contributing to survey programs including the quarterly Agricultural Land Values and Credit Conditions Survey and monthly Chicago Fed Survey of Economic Conditions (CFSEC), and conducting strategic calls, emails, and site visits with senior business leaders and key constituents across the district to deepen understanding of economic trends and build senior-level contacts

• Participates in our Advisory Council activities, including meeting facilitation, member engagement, and contributing to the application process for new members

• Contributes to preparation of the Seventh District’s section of the Beige Book, the Federal Reserve’s report on anecdotal information regarding current economic conditions, by synthesizing anecdotal information from roundtables and surveys, and coordinating with other Reserve Banks

• Prepares contact engagement summaries and sector-specific analysis (such as automotive or agriculture updates) for FOMC preparation materials

• Delivers economic outlook presentations on national and regional topics at conferences, industry events, and community forums

• Serves as a subject matter expert on a sector of the regional economy such as manufacturing, automotive, agriculture, or real estate or a local area such as Detroit or Chicago

• Contributes to planning and execution of conferences

• Conducts research on topics relevant to the district economy with goal of publishing in specialized outlets and Chicago Fed publications and contributing regional economic content to the Chicago Fed website

• Supports travel by Bank senior leadership by contributing ideas for engagement opportunities, preparing briefing documents on local economic conditions, and participating in visits as needed

• Mentors junior team members on economic analysis and engagement

Your Background

• Graduate training in Economics, Agricultural Economics, or related field preferred

• Minimum five years of experience in economic research, analysis, public policy, or related field

• Demonstrated expertise in regional economic analysis, with specialization in one or more key sectors (manufacturing, agriculture, automotive, regional development) or geographies

• Proven track record of sharing written analysis in professional outlets

• Advanced knowledge of qualitative and quantitative research methods, economic survey design and analysis, and proficiency with statistical software

• Strong understanding of the US economy, monetary policy, and the Federal Reserve System

• Exceptional written and verbal communication skills with demonstrated ability to present complex economic information to diverse audiences including senior business leaders, policymakers, and the public

• Proven ability to build and maintain relationships with external parties including business leaders, government officials, and other constituents.

• Advanced project management and strategic planning capabilities

• Demonstrated ability to work independently, set priorities, and manage multiple complex initiatives simultaneously

• Experience with or interest in agricultural sectors, including crop production, dairy, livestock, or rural economies a plus

What we Offer

• Comprehensive benefits package includes medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off, transit benefit, onsite gym and subsidized cafeteria

• A learning environment with opportunities to gain new skills and grow your career

• Unique opportunity to contribute to monetary policy and work on issues of national and regional economic importance

• The Chicago Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.chicagofed.org/careers/thebenefits

Additional Requirements: 

• Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future. 

• This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take approximately two months to be completed. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well. 

• 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 document indicates the general nature and level of work performed by employees within this position. It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee's responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Chicago reserves the right to modify the elements of this job description, as business needs require. 

The expected starting salary range for the position of Principal Business Economist is between $196,700 and $232,700 annually in addition to annual performance-based discretionary bonuses. Final salary and offer will be determined based on the applicant’s relevant experience, skills, internal equity, and alignment with geographic and other market data.                                                          

The expected starting salary range for the position of Regional Policy Advisor is between $213,900 and $253,000 annually in addition to annual performance-based discretionary bonuses. Final salary and offer will be determined based on the applicant’s relevant experience, skills, internal equity, and alignment with geographic and other market data.

The Chicago Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.chicagofed.org/careers/thebenefits 

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status. 

Full Time / Part TimeFull time

Regular / TemporaryRegular

Job Exempt (Yes / No)Yes

Job CategoryEconomics/Research Family Group

Work ShiftFirst (United States of America)

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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