Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems while representing the Fourth District perspectives.

As part of the nation’s central bank, we are a team of mission-driven professionals who are committed to serving with excellence. Our core values are: Build Trust Every Day, Own Our Actions, Collaborate with Intention, and Be Open to Change.

For twenty-six years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

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The Federal Reserve Bank of Cleveland is seeking a Senior Economist who would also serve as the Deputy Director of the Center for Inflation Research or an Economic Policy Advisor who would also serve as the Co-Director of the Center for Inflation Research. The successful candidate will have substantial experience conducting high-quality academic research on inflation and related topics as evidenced by an extensive publication record, expertise in monetary policy, and the ability to improve public understanding of inflation. Job responsibilities also include writing for Bank publications and advising Bank leadership on economic conditions and policy issues. This individual will report directly to the Vice President of the Center for Inflation Research.

Specific expectations of the role include:

• Conducting high-quality academic research on inflation and related topics.

• Ability to think strategically about elevating the profile of the Center for Inflation Research among researchers, policymakers, and the public.

• Driving engagement with the public, by enhancing the Center for Inflation Research’s external website presence and conducting outreach.

• Lead the development of new inflation-related products.

• Working collaboratively with the other members of the Center for Inflation Research to actively promote research productivity.

• Participate in monetary policy preparations within the Research department prior to meetings of the Federal Open Market Committee.

• Providing assistance in organizing the Center for Inflation Research’s annual Inflation: Drivers and Dynamics conference series as well as organizing sessions at other high profile research conferences.

Qualifications:

• A Ph.D. in economics or finance is required.

• Demonstrated success commensurate with experience in publishing research related to inflation and related topics in top academic journals.

• Experience using a range of analytical and empirical tools and models related to inflation and macroeconomic analysis.

• Ability to provide in-depth advice on matters related to monetary policy.

• Ability to think strategically to elevate the profile of the Center for Inflation Research.

• Excellent oral and written communication skills, including the ability to communicate complex economics concepts to members of the public through a variety of formats, including in the Bank’s Economic Commentary series, public outlook speeches, media interviews, and products on our website.

Additional details:

• The starting salary range for the Senior Research Economist position is between $190,00 and $240,000 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 starting salary range for the Economic Policy Advisor position is between $210,000 and $260,000 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 starting salary range for the Senior Economic Policy Advisor position is between $250,000 and $310,000 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 Cleveland Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.clevelandfed.org/careers

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

Citizenship Requirements:

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. In addition, all candidates must undergo an enhanced background check 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.

Physical Demands and General Working Conditions            

This is not necessarily an exhaustive list of all responsibilities, duties, standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time. 

Reasonable Accommodation Statement - The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided with reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to [email protected].

Bank’s Ethics Rules and Drug Testing:

As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions.  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.

In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.  

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Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels

To apply please include:
(1) a current CV, in pdf format;
(2) a sample of current research, in pdf format; and
(3) a cover letter, in pdf format, that outlines inflation-focused qualifications relevant for this position.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Economics/Research Family Group, Executive Family Group

Work Shift

First (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.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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