About Careers

When you mention the Federal Reserve System. . .
most people think of money.

That's because, as the central bank of the United States, we deal with money in all its many forms, but we're much more than that.

We're people.

People who work together to achieve the goals of the Federal Reserve Bank of Minneapolis, the Ninth Federal Reserve District. (The Ninth District is comprised of Montana, North and South Dakota, Minnesota, northwestern Wisconsin and the Upper Peninsula of Michigan.) Together with eleven other districts throughout the country, our fundamental mission is to foster the stability, integrity, and efficiency of the nation's monetary, financial and payment systems to promote optimal economic performance.

In pursuing this mission, the Federal Reserve promotes the public interest, adheres to the highest standards of integrity, pursues excellence, manages operations efficiently and effectively, and values independent viewpoints.

The Federal Reserve Bank of Minneapolis is committed to maintaining an environment where employees can work effectively with and value others for their differences.

Primary Functions

The Federal Reserve System has three primary functions:

1. Monetary Policy
2. Banking Supervision
3. Financial Services

Monetary Policy

One of our responsibilities is to influence the money and credit conditions in the U.S. economy in order to keep processes stable and promote full employment. Economic research, financial and economic statistics and public information support these goals. We also commit resources to economic education throughout the District. These practices demonstrate our support for free markets and free enterprise, while providing vital information to U.S. citizens.

Edward Prescott, an advisor at the Minneapolis Fed since 1981, was awarded the 2004 Nobel Prize for economic science for contributions related to research in the area of macroeconomics.

Banking Supervision

The Fed promotes the safety and soundness of the nation's banking system and protects credit rights of consumers. Our staff of bank examiners conducts on- and off-site reviews of bank holding companies and state member banks in the Ninth District to ensure that they are managed properly and safely.

Our Community Affairs staff work with financial institutions and others to promote financial education and community and economic development initiatives.

Financial Services

Our financial services division works around the clock to provide a range of high quality, cost effective services such as cash and check processing to financial institutions in the Ninth District.

We also process a large volume of electronic payments for the banking industry, transferring funds by wire, using the Fed's extensive data communications network. In addition, we provide services to Automated Clearing House participants, giving them an economical and efficient way to electronically process payments such as direct deposit of payroll and direct payment of bills. Using secure web-based products, the Fed provides a paperless exchange of debit and credit transactions among business and consumer accounts at financial institutions both domestically and internationally.

Fed employees perform a variety of tasks in support of the services we offer to financial institutions, including check processing, distribution of coin and currency, and electronic funds transfers.

In our role as a Fiscal Agent for the U.S. Treasury, we assist customers in the purchase, sale, processing, and servicing of Treasury Retail Securities (e.g., Bonds, Bills, Notes, etc.).

Other financial services functions include the purchase and sale of government securities and holding securities for safekeeping.

Our Unique Structure

The Federal Reserve System is comprised of 12 regional banks, each of which is independently incorporated with a 9-member board of directors from the private sector, and 25 branch offices. The regional banks operate on their own earnings which come from the interest earned on government securities and the provision of priced services. Federal Reserve Banks are not, however, operated for a profit and each year they return to the U.S. Treasury all earnings in excess of operating and other expenses.

What We Value . . .

The Federal Reserve Bank of Minneapolis is committed to providing a work environment where diversity is embraced and all employees are respected and valued. We believe that by recognizing, respecting and valuing the uniqueness of our workforce and providing development opportunities for all, we can effectively apply all of our talents, skills and experiences to achieve the goals of the organization.

The Bank coordinates various events for employees including an annual picnic, holiday luncheon, employee development month, wellness activities, and programming in support of diversity awareness and education.

Every aspect of our operation is conducted in a manner that maintains the public's confidence and trust in the Federal Reserve System. To that end, you will be expected to perform your job with:

• Unquestioned integrity,
• Adherence to custody controls and other applicable standards,
• Dedication to quality, accuracy and rigorous analysis,
• Intellectual commitment,
• Efficient and appropriate use of resources,
• A focus on work that adds value, not activity, and
• A desire to improve processes, products and services through creative and innovative approaches.

Our Core Competencies

As an organization, we are looking for people with certain core competencies, a willingness to develop new skills and knowledge, and a commitment to life-long learning. Competencies act as a compass, directing our path to training, development, and the performance feedback process. Our core competencies include:

• Communication
• Thinking and judgment
• Interpersonal skills
• Adaptability and flexibility
• Bank and job knowledge
• Leadership
• Organization and planning
• Performance management and
• Professionalism

Art Rolnick, senior vice president and director of research, was named Minnesota Monthly's Minnesotan of the Year in 2005, in part due to his research on the economic benefits of investing in early childhood development.

To Apply

If you would like to be a part of a unique organization that values the contributions of its employees, apply on-line at Job Search.

Note: When you select Job Search you will leave the Federal Reserve Bank of Minneapolis web site. Although the page is framed with the Bank's navigation, framed content is provided by a third-party contractor.

The Federal Reserve Bank of Minneapolis is committed to equal employment opportunity for employees and job applicants, and to an environment where employees can work effectively with other employees and value them for their differences.