Research Assistant

Monetary and Economic Policy
267905 Requisition #
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Research Assistant    
Federal Reserve Bank of Boston
Boston, MA

The Model Risk Management Group (MRMG) Research Assistant will perform a variety of tasks necessary to support a complex analysis of the Federal Reserve's stress testing models, including code development, data preparation and aggregation, and the production of statistical analyses.

You will report to a Senior Quantitative Analyst responsible for developing an analysis assessing model risk associated with the Federal Reserve's internal stress testing models on behalf of Federal Reserve System management. Our team consists of several Quantitative Analysts and Economists. You will support our team by programming in R to implement components of the analysis and by using SQL to manage the data used by the analysis. While working on this team you will implement our analyses on a Linux computing cluster and will manage our code using Git. Your knowledge of programming principles and database design will enable you to develop robust enhancements to the analysis. The attractive charts and graphics you produce will provide clarity on complex analysis results to Federal Reserve System leaders.

While working for our team, you will be provided with exposure to modeling techniques used in an important tool for regulating risk in the financial system. You will have opportunities to work with experts from across the Federal Reserve System while refining and developing your technical skills.

Principal Accountabilities:

•             Design programs to manipulate data, perform statistical tests, run regression analysis, and analyze results. Produce reports summarizing quantitative analyses; develop statistical software code (R, SQL, Python, and bash) in source control (Git) using a high-performance computing cluster.

•             Implement quantitative tests on a complex project; assess results for reliability.

•             Search for data and literature using online and published sources.

•             Determine reliability of data and present the information in a form that can be easily interpreted by the quantitative analyst(s).

•             Prepare charts and tables using spreadsheet and graphic software packages for publications, presentations, and briefings to executive committees, validation groups, and external parties.

•             Prepare written summaries of data analysis and literature reviews for the quantitative analyst(s).

•             Proofread, edit, fact-check, summarize, and comment on model documentation and papers.


•             A bachelor's degree in economics, computer science, mathematics, physics, data science, or related field, or equivalent experience.

•             1+ years of experience with statistical programming (such as R or Python) and databases (SQL), or equivalent experience demonstrated by the completion of projects.

•             Knowledge of statistics and econometrics, including the mathematics underlying concepts such as covariance, regression, and model estimation.

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

•             Comprehensive healthcare options (Medical, Dental, and Vision)

•             401K match, and a fully funded pension plan

•             Paid vacation and holidays; flexible work environment, healthy workflow

•             Generously subsidized public transportation

•             Annual tuition reimbursement

•             Professional development programs, training and conferences

•             And more…

The Federal Reserve Bank is committed to a diverse, equitable and inclusive workplace and to provide equal employment opportunities 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 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.

All employees assigned to this position 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. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills 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.

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