Federal Reserve Bank of Philadelphia | Machine Learning Research Assistant (Hybrid) | Philadelphia, PA | United States | BigDataKB.com | 2023-01-28

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Job Location: Philadelphia, PA

Job Detail:


Federal Reserve Bank of Philadelphia

Performs statistical and econometric analyses to support or prove the research and consulting projects initiated by machine learning economists. Identifies, collects, and prepares data required for machine learning projects. Initiates and conducts independent research projects of a limited nature for and under the supervision of economists.

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks, savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
Performs statistical and econometric analyses to support or prove the research and consulting projects initiated by machine learning economists. Identifies, collects, and prepares data required for machine learning projects. Initiates and conducts independent research projects of a limited nature for and under the supervision of economists.
Job Duties and Responsibilities:
Performs statistical and econometric analysis using state-of-the art machine learning techniques.
Organizes data for analysis and writes computer programs using Python, R, SAS, Stata, Matlab and other software.
Presents results of research to economists and management in oral or written reports.
Writes programs to automate data collection procedures.
Uses knowledge of data sources (such as Haver and RADAR) and data content to determine what source will best provide data for a project.
Initiates, plans, and executes research projects of a limited nature subject to supervising economists’ approval.
Designs databases for use in economic research projects and machine learning projects across the bank.
Writes documentation of data sources, algorithms, and statistical tests that have been performed on the data.
Documents procedures and trains junior analysts when required.
Reviews literature on research topics and may contact others doing similar research.
Determines what information is relevant to the project and provides economists with summaries of findings, both orally and in writing.
Keeps abreast of current developments in economics and computer science.
Produces charts and graphs to communicate findings to business lines throughout the bank.
Works individually or in a group to identify, communicate, and implement changes and initiatives with the goal of improving the quality of the operation or product.
Performs other related duties as assigned.
Fulfills job duties and responsibilities in conformance with sound safety practices.
Education and Experience:
Bachelor’s degree in computer science, economics, mathematics, statistics, or finance, preferred.
Minimum of two years’ experience in or knowledge about natural language processing and processing large datasets and their related programming skills are a plus.
Knowledge and Skills:
Knowledge of State-of the-art machine learning methods.
Demonstrated ability to apply quantitative techniques in research projects under general supervision.
Ability to use statistical programs, such as Python, R, Stata, SAS, and Matlab, to organize data into files and to perform advanced statistical and econometric analyses.
Ability to quickly find relevant data for research projects and for speeches and presentation visuals.
Strong analytical and problem-solving skills.
Good oral and written communication skills.
Physical Requirements: Must be able to spend long hours working at a personal computer.
To apply: Please upload both a resume and a cover letter to be considered for this position. Please upload your files to the Attachments tab.
Our benefit plans are designed to be the best fit for you at every stage of your career!
  • Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
  • 401k/Thrift Plan with generous employer match
  • Employer-funded Pension Plan
  • Paid Vacation/Sick Time & Holidays
  • Monthly $100 Commuter Allowance
  • Flexible Spending Accounts and Healthcare Spending Accounts
  • Flexible Work Schedule available in most departments
  • Life Insurance and Long Term Disability Insurance
  • Tuition Reimbursement
  • Parental Leave
  • Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
  • Onsite Cafeteria & Coffee Shop
  • Additional Convenience Benefits, Discounts and More…
The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LGBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.
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.
All Federal Reserve Bank of Philadelphia 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 officer if necessary. You should review the full

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Code of Conduct

to ensure compliance with conflict of interest rules and personal investment restrictions.

Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as safety sensitive will also be screened for the presence of marijuana. 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/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 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 must undergo an applicable background check and comply with all applicable information handling rules.
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.
This is not a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.
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the Philly Fed and its culture. Learn more about


for the Philly Fed.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category


Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. 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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