Machine Learning Research Assistant
About The Position
Research assistants (RAs) at the Philadelphia Fed play a key role in the Economic Research Department. Whether they are helping economists prepare briefings on current monetary policy issues, working on economic forecasts, writing some of our newsletters on economic conditions, or analyzing data for long-term research projects, RAs work as an essential part of our team and gain depth of experience. The Bank’s RA program is structured as a two-year program, with most RAs continuing on to graduate programs or other careers in economics or related fields after two years with the Bank. Employment is at-will. You will perform 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. Our department prides itself on its collegial atmosphere. RAs help one another develop their statistical, data, and programming skills. Our economists collaborate on research with academic and central bank colleagues from around the world; as a result, so do our research assistants. The assignments in the Economic Research Department offer our RAs a number of ways to increase their knowledge of economics and their analytical skills. Moreover, RAs have access to a number of training and education opportunities, including courses in computer software and programming languages, as well as undergraduate and graduate courses in economics, statistics, and mathematics. Working as a RA at the Philadelphia Fed is a rewarding experience, whichever career path you ultimately choose to pursue. Our RAs have gone on to top graduate schools in economics, public policy and law; some have found opportunities in other departments in the Bank; and others have moved into higher positions within the Economic Research Department. The Bank’s RA program is structured as a two-year program, with most RAs continuing on to graduate programs or other careers in economics or related fields after two years with the Bank. Employment is at-will.
Requirements
- 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 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.
- Must be able to spend long hours working at a personal computer.
Nice To Haves
- Knowledge about natural language processing and processing large datasets and their related programming skills are a plus.
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.
Benefits
- Medical (4 options)
- Prescription
- Dental (3 options)
- Vision Insurance with no waiting period
- 401k/Thrift Plan with generous employer match
- Employer-funded Pension Plan
- Paid Vacation/Sick Time & Holidays
- Monthly $200 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 (undergraduate and graduate)
- 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…
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
