Research Assistant

Research Assistant — Chicago, IL at Federal Reserve | Recrutus

About the Federal Reserve Bank of Chicago

The Federal Reserve Bank of Chicago supports the nation's economic health by conducting research and policy work that informs the Bank's mission. Our economists explore diverse topics including micro and macroeconomics, finance, regional markets, insurance, and economic inequality. As a Research Assistant, you will join a team dedicated to utilizing analytical skills in economics, finance, statistics, mathematics, and computer science to drive these efforts.

About the Role

This position is structured as a two-year program requiring a full two-year commitment. Designed as an entry-level role under direct supervision, you will work alongside a variety of economists to acquire essential skills in data analysis for answering research and policy questions. The work is valuable preparation for graduate studies in economics and related fields, as well as careers in industry, policy, and the non-profit sector.

You will engage in quantitative research analyses using economic and financial data, develop code for model estimation, manage data collection, and prepare briefings. Collaborating with economists at all stages of the research process, your contributions may be substantial enough to lead to jointly authored articles. This role offers a continuous learning environment where you can gain new skills and grow your career.

Application Instructions

To be considered for this position, all applications must be submitted via the Federal Reserve System Careers portal. Your application package must include:

Resume
Cover Letter
Transcript (Undergraduate or higher; unofficial copies are acceptable)
Letter of Recommendation: At least one letter must be submitted directly by your recommender to ResearchAssistantLOR@chi.frb.org. The email subject line must include your LAST NAME and FIRST NAME.
References: At least two references (name and contact information) submitted separately from your resume.

Important: When uploading your resume on the Workday Portal, you must upload all supplementary documents (items 2, 3, and 5) on the same page. There will be no additional prompts for these files. Failure to upload them together will result in a postponement of your application review.

Applications are reviewed on a rolling basis. For questions regarding submission, please contact RA.Recruiting@chi.frb.org.

Hiring Process and Screening

Selected candidates will undergo additional screening requirements due to the sensitive information accessed during the job. These screenings, initiated upon offer acceptance, may take approximately two months and include education/employment verification, criminal history, credit history, and reference checks.

As a condition of employment, all employees must comply with the Bank's ethics rules, which generally prohibit owning securities of banks or savings associations. Candidates who own such securities and cannot divest them should contact the recruiter immediately.

Equal Opportunity Employer

The Federal Reserve Bank of Chicago is 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. We strive to create an environment where employees are valued for their differences.

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

Work location

Work model: On-site

North Lower Michigan Avenue, New East Side, Loop, Chicago, South Chicago Township, Cook County, Illinois, 60602, United States

Chicago, Illinois

Key Responsibilities

check_circleConduct statistical and economic analyses of macroeconomic, microeconomic, financial, and regional data
check_circleDevelop code for model estimation using programming languages such as R, Python, or STATA
check_circlePrepare charts, tables, and descriptive text for department briefings and presentations
check_circleRecommend, plan, and execute research projects under the guidance of senior researchers
check_circleCollect, manage, and organize economic and financial data for research projects
check_circleCollaborate with economists on literature reviews, data analysis, and regression modeling

Requirements

verifiedBachelor's degree with strong quantitative background
verifiedAuthorization to work in the United States without visa sponsorship
verifiedExperience with data/programming languages
verifiedKnowledge of economic theory and quantitative analysis
verifiedProficiency in R, Python, STATA, MATLAB, or ArcGIS

Benefits & Perks

check_circleAnnual performance-based discretionary bonusescheck_circleBenefits to support overall health and financial security

Company

Federal Reserve Bank of New York

Industry

Financial Services

Headquarters

New York, NY

Serving the Second District and the Nation

The Federal Reserve Bank of New York operates within the financial services industry, headquartered in New York, NY. As a key component of the Federal Reserve System, the institution collaborates with public and private sector entities to ensure the safety, soundness, and vitality of the economic and financial systems. Its core responsibilities include implementing monetary policy, supervising and regulating depository institutions, managing international operations, and providing essential financial services. The bank oversees the Second Federal Reserve District, a region encompassing New York State, twelve northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands. Despite serving a geographically limited area, it stands as the largest Reserve Bank by assets and volume of activity. This scale is supported by a workforce of talented and innovative professionals operating within a collaborative and inclusive environment. The organization maintains an active presence on LinkedIn to facilitate engagement and discussion regarding its operations. To preserve a productive exchange of ideas, the platform enforces strict guidelines prohibiting defamation, spam, obscenity, misinformation, intellectual property violations, and commercial content. All views expressed in user comments remain the sole responsibility of the author and do not necessarily represent the official stance of the Federal Reserve Bank of New York.

Skills, education and keywords

Skills: R, Python, Stata, Matlab, Arcgis, Econometrics, Statistics, Advanced Calculus, Computer Programming, Data Analysis.

Education: Bachelor's degree with strong quantitative background required.

Frequently asked questions about Research Assistant at Federal Reserve Bank of New York

What does a Research Assistant at Federal Reserve Bank of New York do?expand_more

Day-to-day, the Research Assistant at Federal Reserve Bank of New York will conduct statistical and economic analyses of macroeconomic, microeconomic, financial, and regional data; develop code for model estimation using programming languages such as r, python, or stata; prepare charts, tables, and descriptive text for department briefings and presentations; and recommend, plan, and execute research projects under the guidance of senior researchers.

What are the requirements for this Research Assistant role?expand_more

To qualify for the Research Assistant at Federal Reserve Bank of New York position, applicants should have: Bachelor's degree with strong quantitative background; Authorization to work in the United States without visa sponsorship; Experience with data/programming languages; Knowledge of economic theory and quantitative analysis; and Proficiency in R, Python, STATA, MATLAB, or ArcGIS.

Where is the Research Assistant role at Federal Reserve Bank of New York located?expand_more

Research Assistant at Federal Reserve Bank of New York is based in North Lower Michigan Avenue, New East Side, Loop, Chicago, South Chicago Township, Cook County, Illinois, 60602, United States. This is a on-site role.

Is this Research Assistant job remote, hybrid, or on-site?expand_more

Federal Reserve Bank of New York has listed this Research Assistant role as on-site.

How much experience is required for this Research Assistant role?expand_more

Candidates for Research Assistant at Federal Reserve Bank of New York should have entry level.

What skills do you need for the Research Assistant role at Federal Reserve Bank of New York?expand_more

Key skills for Research Assistant at Federal Reserve Bank of New York include R; Python; Stata; Matlab; Arcgis; Econometrics; Statistics; and Advanced Calculus.

What education is required for Research Assistant at Federal Reserve Bank of New York?expand_more

Educational requirements for this role: Bachelor's degree with strong quantitative background required.

What category does the Research Assistant role belong to?expand_more

Research Assistant at Federal Reserve Bank of New York is part of the accounting & finance job category on Recrutus.

About Federal Reserve Bank of New York

The bank oversees the Second Federal Reserve District, a region encompassing New York State, twelve northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands. Despite serving a geographically limited area, it stands as the largest Reserve Bank by assets and volume of activity. This scale is supported by a workforce of talented and innovative professionals operating within a collaborative and inclusive environment.

The organization maintains an active presence on LinkedIn to facilitate engagement and discussion regarding its operations. To preserve a productive exchange of ideas, the platform enforces strict guidelines prohibiting defamation, spam, obscenity, misinformation, intellectual property violations, and commercial content. All views expressed in user comments remain the sole responsibility of the author and do not necessarily represent the official stance of the Federal Reserve Bank of New York.

Browse more roles: All Federal Reserve Bank of New York jobs, accounting & finance jobs on Recrutus.