Economist (Research Assistant Mentorship Program)

The Division of Research & Statistics is seeking ideal candidates for participation in its Research Assistant Mentorship Program (RAMP). Selected candidates will serve as Research Assistants (RAs) in a two-year developmental program that provides training in areas like research, policy evaluation, and data management. The program is well-suited for candidates hoping to pursue a PhD or master's degree program or an applied statistics career in economics, finance, data science, or public policy.

Research Assistant Mentorship Program (RAMP)

Selected candidates will serve as RAs in a two-year developmental program working closely with senior level economists providing economic research and critical support for data management and policy evaluation. Each RA will be assigned to a mentor Ph.D. economist, who will oversee their progress and offer regular feedback throughout the program. The first year involves training with data analysis, database management, computer systems, programming skills, statistics, and econometrics. Each RA will complete assigned projects that could include developing code, writing or presenting summaries of findings, and generating new ideas. The second year focuses on developing and conducting research with mentors. Potential research topics include housing programs, housing markets, house price indexes, financial institutions, secondary mortgage market operations, climate and natural disaster risk in housing markets, appraisal valuation, survey analysis and other related topics to identify significant and emerging risks such as market, interest rate, operational and credit risks. Opportunities may involve any or a combination of research, policy, or analysis.

The Economist duties listed below are at the EL-09 level. Depending on the grade level selected, the incumbent will perform the following duties with varying levels of supervision and difficulty:

• Provides analytical support for the DRS. Projects may include research and the identification of emerging risks and trends in the housing market as well as monitoring programs, all developed by senior staff. These monitoring programs are designed to analyze the business practices of FHFA's regulated entities. The incumbent supports the development and operation of the monitoring programs by collecting, validating, transforming, and analyzing data from the regulated entities, using a variety of tools such as Microsoft Excel, SAS, Stata, R, Python and others to organize data and support technical conclusions. Database skills include experience in accessing databases via standardized and ad hoc query tools, assisting or participating in validating and correcting newly acquired and existing data, and monitoring data using programming, reporting, analysis and/or data visualization tools. This responsibility requires developing and maintaining familiarity with best practices and trends through continuous training inside and outside FHFA.
• Assists in drafting monitoring reports, which, on occasion, includes providing supporting information for recommendations. The input is reviewed and approved by other staff members.
• Participates in other economic or financial research or banking projects that are key to the DRS overall supervisory program. Works with teams consisting of other economists and financial analysts across the agency.
• Responds to inquiries from staff and approved non-FHFA sources for technical and analytical support.
• Supports the preparation of written policies, procedures, and manuals by documenting assumptions, methodologies, and procedures used for generating standardized reports.
• Performs other duties as assigned.

This is a term appointment not to exceed 2 years. Term appointments are non-status, non-permanent appointments of limited duration of more than 1 year, but not more than 2 years, with the possibility to extend for no more than an additional two years subject to funding. Should the need warrant, term appointments may be extended without further competition up to a maximum year limitation, subject to funding. The appointment to a term position does not confer eligibility for permanent employment.

BASIC REQUIREMENTS:

A. Degree:economics, that included at least 21 semester hours in economics and 3 semester hours in statistics, accounting, or calculus.

-OR-

B. Combination of education and experience: courses equivalent to a major in economics, as shown in A above, plus appropriate experience or additional education.

In addition to meeting the above basic education or education and experience requirements, applicants must also meet the following minimum qualifications for their desired grade level:

Minimum Qualification EL-07: Applicants must have 52 weeks (one-year) of specialized experience equivalent to the next lower grade level and/or directly related education as described below. From the description below, if you choose options "B", "C" or "D" you must provide transcripts with your application.

A. Experience: I qualify for the EL/GS-07 because I have at least 52 weeks of specialized experience at the EL/GS-05 or equivalent demonstrating work experience with the following: Knowledge/application of economic theory, practices, methods and techniques and knowledge/application of statistical computation methods, data collection, and economic systems to analyze and research economic factors. -OR-

B. Education:1 full year of graduate level education in applied economics, econometrics, financial economics, mathematics, data science, statistics, public policy or other fields related to the position. -OR-

C. Superior Academic Achievement (S.A.A.): a bachelor's degree curriculum directly related to the work of the position. To qualify for superior academic achievement, you must have ONE of the following: (1) standing in the upper third of your college class or major subdivision at the time you apply; (2) grade point average of B (3.0 on a 4.0 scale) or B+ (3.5 on a 4.0 scale) or its equivalent for all courses completed, either (a) at the time of application or (b) during the last 2 years of your undergraduate curriculum; (3) election to membership in one of the national honorary scholastic societies that meets the requirements of the Association of College Honor Society. Note: Grade-point averages are to be rounded to one decimal place. For example, 2.95 will round to 3.0 and 2.94 will round to 2.9. -OR-

D. Combination of education and experience:as described above in options "A" and "B". Note: Less than one year of specialized experience may be combined with graduate education more than the amount required for the next lower grade level. One academic year of graduate education is the number of credits hours determined to represent one academic year of full-time study (i.e.,18 semester hours (or 27 quarter hours).

Minimum Qualification EL-09: Applicants must have 52 weeks (one-year) of specialized experience equivalent to the next lower grade level and/or directly related education as described below. From the description below, if you choose options "B" or "C" you must provide transcripts with your application.

A. Experience: I qualify for the EL/GS-09 because I have at least 52 weeks of specialized experience at the EL/GS-07 or equivalent demonstrating work experience with three of the five listed below:

(1) Demonstrated work experiences with supporting economic policy, analysis, evaluation or visualization of economic data, and reporting of market trends.
(2) Demonstrated work experiences in data collection of economic information, validating or correcting acquired data, transforming and standardizing data, and monitoring updates through programming, reporting, software, or other analytic tools.
(3) Demonstrated work experiences with drafting policies, procedures, or manuals that document assumptions, methodologies, and best practices used for generating standardized reports or data production activities.
(4) Demonstrated work experiences conducting individual research assignments requiring planning, information assembly, implementation of econometric or financial methodologies, analysis and evaluation, and technical writing that conveys relevant findings or appropriate recommendations
from statistical results.
(5) Experience communicating orally and in writing with diverse audiences, including but not limited to colleagues, senior management, and the general public on economic data or concepts. -OR-

B. Education: Completion of two (2) academic years of graduate-level education, or a master's degree or equivalent graduate degree from an accredited college of university directly related to the work of the position (i.e., applied economics, econometrics, financial economics, mathematics, data science, statistics, public policy or other fields related to the position). -OR-

C. Combination of education and experience as described above in options "A" and "B". Note: Less than one year of specialized experience may be combined with graduate education more than the amount required for the next lower grade level. One academic year of graduate education is the number of credits hours determined to represent one academic year of full-time study (i.e., 18 semester hours (or 27 quarter hours).

Demonstrated experience with data analysis and applied methods is preferred. Candidates must demonstrate effective written and oral communication skills.