Senior Policy Advisor

Company

Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia (the Philadelphia Fed) is one of 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., comprise the Federal Reserve System (System). Founded by Congress in 1913, the Federal Reserve System serves as the central bank of the United States. The Philadelphia Fed (3rd District) serves eastern and central Pennsylvania, southern New Jersey, and Delaware. Its mission is to formulate and implement monetary policy, supervise banks, bank holding companies, savings and loan holding companies, provide financial services to depository institutions and the federal government, and promote consumer protection and community development.

The Philadelphia Fed's Research Department (Department) plays an important role within the System and has a long-standing reputation as a thought leader, innovator and influencer of monetary policy, informed by distinguished research, insights and analysis. The Department conducts research on a wide range of economic topics (macroeconomics, labor, finance, banking, and regional), produces analysis used in regional and national policy discussions, and conducts surveys to get timely pulse readings of the economy, including the Manufacturing Business Outlook Survey and the Survey of Professional Forecasters (which is the oldest quarterly survey of macroeconomic forecasts in the United States). It serves as a System leader in data analytics and governance and high-performance computing. The Consumer Finance Institute (CFI), an innovative and unique cross-disciplinary team, sits within the Department polio and analyzes how people earn, spend, save, and invest, as well as how credit markets and payment systems affect the economy. Financial Statistics, which gathers and disseminates information from financial institutions, is also part of the Department portfolio.

The Senior Policy Advisor serves as an economic advisor to the President and Chief Executive Officer (Bank President) of the Philadelphia Fed. The Advisor will be part of the Research Department leadership with a primary responsibility to create and refine the process to deliver timely and relevant analysis and insights on economic and financial developments for the Bank President in their role as a member of the Federal Open Market Committee (FOMC). They will drive economic policy discussions that meet the needs of the Bank President and Bank economists by identifying critical topics, matching topics to experts from across the Bank, mentoring team members and providing feedback on memos and briefings, convening experts, and facilitating briefings. As a member of the department leadership team, the Advisor works collaboratively to manage multiple deliverables under evolving priorities. In addition, the Advisor may prepare presentations and updates for senior leadership and the Bank's Board of Directors.

To succeed in this role, the ideal candidate must have exceptional analytical and critical-thinking capabilities, with the ability to assimilate new information, interpret complex economic and financial developments and research, and produce rigorous, high-quality analysis. They must demonstrate expertise in monetary policy and economics-supported by advanced theoretical and quantitative skills-and be recognized for their professional contributions. They must be able to deliver constructive feedback and work effectively with colleagues with a range of expertise. Strong communication skills, both written and oral, are essential for effectively briefing senior leadership, crafting clear perspectives on monetary policy, and engaging with stakeholders across the Federal Reserve System. The candidate must also be adept at building relationships, convening subject-matter experts, facilitating policy discussions, and driving consensus. Success in the role further requires excellent organizational skills to manage evolving priorities, lead multiple complex projects, and consistently deliver timely, high-quality outputs in support of the Bank President and the Research Department.

The salary range for this position is: $ 249,500 - $ 383,900 . Final salary and offer will be determined by the applicant's background, experience and skills, as well as internal equity and alignment with market data.

Key Responsibilities

The scope of the role includes, but is not limited to:

Policy &* * Advisor y Responsibilities

• Identify,convene, andfacilitatepolicy discussionsacrossmultiple disciplines ofinternal and external experts.This includesassuming a lead rolein designing and contributing to the process forpreparingfor FOMC meetingsthat meet the needs of the Bank President.

• Support the Bank President's speechdevelopmentand related briefing materials.

• Lead advanced researchand policyprojects on monetary, financial, and economic topics.

Coach and Mentor

• Mentor andsupport thedevelopment ofcolleaguesthrough coachingandproviding actionable feedback to strengthen policy analysisandbriefingskills, and to realize synergies between research and policy.

Enterprise / System Engagement

• Brief theBank'sBoard of Directors on monetary, financial, and regional economic issues.

• Engage regularly with Federal Reserve System counterparts to stay current on policy issues.

Communication Responsibilities

• Contribute to or produce research papers; review others' work.

• Engage in public educational or speaking activities on behalf of the Bank.

• Build relationships with colleagues that result in positive outcomes.

Project & Priority Management

• Lead multiple projects simultaneously, delivering highquality results under shifting priorities.

Education and Experience:

• PhDand a minimum of7years ofdemonstratedexperiencewithinthe field ofmonetary policy,economics,orfinance.

• Extensive experience in economic research and policy analysis,through publications and engagements.

• Familiarity with relevant economic institutions and available data sources.

• Strongwritten and verbal communication skills.

Knowledge and Skills:

• Strong analytical and critical thinking, including ability to assimilate complex information.

• Demonstratedexpertisein advanced theoretical and quantitative economic/financial methods.

• Ability to build consensus with diverse stakeholders.

• Strong organizational skills to manage evolving priorities and tight deadlines.

Other Requirements

• Maintain a full-time onsite presence at the Philadelphia Fed.

• Willingness to travelas needed.

Ethics Considerations and Prohibited Activities

Employees of the Philadelphia Fed are held to the highest standards of integrity, impartiality, and public trust. To maintain confidence in the Federal Reserve System, all employees must comply with federal statutes prohibiting financial conflicts of interest, and senior officials are subject to additional restrictions.

The Policy Advisor is subject to the Federal Reserve Board's Investment and Trading Policy for FOMC Officials. These rules prohibit certain investments, including individual equities, corporate or municipal bonds, asset-backed securities, agency debt, and derivatives.

The Policy Advisor must:

• Provide 45 days'advance notice and obtain prior approval for securities transactions.

• Hold investments for at least one year.

• Refrain from trading during FOMC blackout periods or periods of financial market stress.

• Disclose financial transactions.

These restrictions also apply to the Policy Advisor's spouse and dependent children. In addition, the Bank's Code of Conduct prohibits outside activities that conflict with official duties (e.g., serving as a director of a public company) and certain partisan political activities.

Candidates should review the following to ensure compliance:

• Federal Reserve Bank Philadelphia Code of Conduct ?

Having reviewed the above, candidates should also be prepared to confirm that they and their spouse will have the ability to do the following:

• Be in full compliance and adhere to all restrictions on standalone investments, includingretirement accounts from private employers.

• Divest any investments that aredeemedimpermissible.

• Advise if they own any cryptocurrencies

We offer a great benefits package that features:

• Medical, Dental, and Vision Insurance

• 401k/Thrift Plan with generous employer match

• Employer-funded Pension Plan

• Paid Vacation/Sick Time & Holidays

• Flexible Spending Accounts and Healthcare Spending Accounts

• Life Insurance and Long-Term Disability Insurance

• Parental Leave

• Free onsite 24/7 Fitness Center

• Additional Benefits, Discounts and More...

Additional Information:

The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the "@phil.frb.org" domain or through the Workday system "[email protected]". If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity. If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at [email protected] .

We are an equal opportunity employer committed to hiring the best candidates and to providing equal employment opportunity to all persons without regard to race, color, religion, sex, pregnancy, national origin, age, genetic information, disability, military service, or any other basis protected by law.

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. If you need assistance or an accommodation due to a disability, please email us at [email protected].

Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Due to the nature of the information you will have access to, we require that you also complete a more in-depth enhanced background screening. 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.

This position requires access to confidential supervisory information and 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 permanent residents must sign a declaration of intent to become a U.S. citizen when eligible to do so and pursue a path to citizenship. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a permanent resident and a U.S. citizen and meet other eligibility requirements. In addition, all candidates comply with all applicable information handling rules. The Policy Advisor will be required to provide work authorization to prove 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.

By applying for this position, you agree you will be available to work on-site in a full-time capacity.

Learn more about working for the Philly Fed here (

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Economics/Research Family Group

Work Shift

First (United States of America)

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