Office of Financial Research Fellowship Opportunities

Title: Office of Financial Research Fellowship Opportunities

  • Employer: U.S. Department of the Treasury
  • Location: Washington, DC or New York, NY
  • Job Description: The OFR designed this Fellowship Program to augment its expertise and to provide advanced training to OFR personnel. It is a selective program that authorizes non-permanent appointments and other work arrangements for experienced professionals from private industry, the non-profit sector, other areas of government, and academia.

    The OFR seeks Fellowship candidates from a variety of disciplines including finance, econometrics, macroeconomics, applied sciences, financial data management, data security, and information technology. Successful Fellows will bring transformative knowledge about the most recent disciplinary and interdisciplinary developments to enhance OFR’s expertise, responsiveness and agility.

    The program has two tracks. Principal Fellows will lead projects and provide high-level training for OFR staff. This program targets professionals from academia and private industry who are recognized as experts in their discipline. Fellows will assist, conduct, carry out projects and help train OFR staff. This track targets high-performing and high-potential candidates who have a record of exceptional achievement in a relevant discipline.

    The OFR seeks Fellows in both of its Divisions, the Research and Analysis Center and the Data Center.

    Research and Analysis Center Fellows:

    Fellows in the Research and Analysis Center will lead and conduct research relevant to the missions of the Office. OFR research seeks to understand and explain the evolving functions of the financial system, assess risks and vulnerabilities to financial stability, and evaluate mitigants, such as risk management and public policy. Active research tracks include:

    • So-called shadow banking, that is, the conduct of bank-like activities such as credit allocation and maturity transformation and the creation of money-like liabilities in unregulated or lightly regulated markets;
    • The intermediation process and the interaction between the real economy and the financial system, e.g. the relation between housing, housing finance and its relationship to financial stability;
    • New techniques for risk management and stress testing, such as agent-based modeling and improved scenario selection; Developing, investigating and assessing monitoring indicators and systems of risks to financial stability;
    • Markets for and institutions engaged in the use of credit default swaps and other derivatives; and,
    • Network analysis and how it can be used to understand interconnections among financial institutions.

    Principal Fellows in the Research and Analysis Center would have a Ph.D. or other advanced degree and seven or more years of successful research, administration, teaching, or managerial experience pertinent to the position; Fellows would have a Masters degree with five or more years of relevant experience.

    Data Center Fellows:

    • Recommend, architect, design, and maintain data integration and information security frameworks in support of information lifecycle management functions;
    • Evaluate, recommend, and implement Hadoop/NoSQL technologies, to include implementing Hadoop clusters and/or large Massively Parallel Processing database management systems;
    • Perform research on the landscape of financial markets data standards, identifying gaps and proposing solutions. This includes liaising with Financial Stability Oversight Council agencies, the National Institute for Standards and Technology, ANSI X9 and ISO TC68;
    • Link together multiple disparate data sets, particularly across time series and cross sectional financial data, for purposes of conducting network analysis to analyze threats to financial stability. Positions may be filled with excepted hiring authorities. Appointments will vary from 6 months - 2 years.

    Interested candidates should submit a cover letter, resume, and a brief research/project proposal (approximately 1 page) outlining the work they propose to undertake while employed as a Fellow with the OFR no later than February 28, 2013. Candidates will be evaluated from the end of December 2012 to February 2013 to start in the Summer 2013 (or at a mutually agreed alternative time). The proposal must define clear objectives, resources needed, timeframe, and how it supports OFR’s mission and should be sent to OFRFellowshipProgram@treasury.gov. In the subject line of the email, the candidates must state the track(s) of interest. In the first line of the email, the candidate should state the (A) specific fellowship program for which they are applying; (B) desired start date; (C) whether they hold U.S. citizenship and, if not a U.S. citizen, whether they are a green card holder and/or actively seeking citizenship; and (D) veterans’ preference, if applicable.

    The Treasury Department is an Equal Employment Opportunity Employer.

  • Application Deadline: 2/28/13
  • Other Info: *See details above

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