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Quantitative Fellowship Program

2023 QFP Fellows

2023 QFP Participants

Join the Federal Reserve System’s Quantitative Fellowship Program

We’re eager to work with individuals who would like to join the Federal Reserve System’s Quantitative Fellowship Program (QFP) to perform in-depth and rigorous assessments of the major risks that banks and other financial institutions face.

The QFP is a program of the Federal Reserve System and its Supervision and Regulation function. We’re leaders in overseeing the nation’s largest and most complex financial institutions. The QFP offers a unique opportunity to promote a safe, sound, and efficient banking and financial system that supports the growth and stability of the U.S. economy.

We’re looking for highly analytical individuals who seek to work in an intellectually stimulating and collaborative environment, engage in meaningful public service, and interact with senior quantitative experts in the Federal Reserve System and the firms we oversee.

Key dates

Application deadline:
December 11, 2023

Offers extended by:
March 15, 2024

Program starts:
July 15, 2024

About the QFP

The QFP is a two-year program designed to develop candidates to become permanent quantitative analysts for the Federal Reserve System. As a fellow, you’ll work on-site at multiple Reserve banks and at the Board of Governors in Washington, D.C.

This program is designed for recent graduates or early career professionals with analytical skills and advanced degrees in quantitative fields. You’ll gain cross-firm perspective on modeling challenges and help senior Federal Reserve leaders make informed decisions. And you’ll gain experience in areas such as stress test modeling, analyzing financial institution portfolios, and model risk management and validation, among other quantitative topics.

You’ll spend half of your rotations assigned to your home base location and half assigned to other Federal Reserve locations. Away rotations involve a mixture of onsite and remote work.

Once you’ve successfully completed the program, you’ll have the potential to be placed in a regular, full-time quantitative role within the Federal Reserve System.

Click to learn more about the current fellows and job duties at each location.

Development opportunities

In the QFP, we’ll provide development opportunities to prepare you for a career in the Federal Reserve System. Many training opportunities are available at the program and System levels. You’ll be exposed to various teams, functions, and projects in Supervision and Regulation during each rotation. You will also participate in two annual training symposiums hosted by the program during which you’ll learn from System experts and other fellows.

Training outside the QFP includes online forums, such as a Systemwide forum for quants to share ideas and techniques, as well as in-person conferences, such as the Quant Skills Conference, Model Risk Management Forum, System Surveillance Conference, Trading Risk Management Conference, and 4Data Science workshops. You can participate in experiential learning opportunities, such as the annual Crunch-a-thon and Innovation roundtables. You can also attend courses or lectures more specifically related to your current rotation as recommended by your team.

2023 QFP Fellows

2019 QFP Participants

About you and what we’re looking for

Successful candidates will have proven skills in:

  • Communication
  • Teamwork
  • Quantitative analysis
  • Strategic and critical thinking

And are required to have:

  • A graduate degree in a quantitative discipline such as economics, engineering, mathematics, quantitative finance, statistics, or data science
  • An excellent academic record
  • Experience programming in languages such as Matlab, Python, R, SAS, or Stata
  • Ability to manage and analyze large data sets
  • Experience in developing or validating mathematical or statistical models
  • Ability to present technical issues to nontechnical audiences and to clearly articulate findings verbally and in writing
  • Willingness to travel throughout the duration of the program
  • Meet the Protected Individual requirement. See Note 1.


The application for the 2025 cohort will open in the fall.


  1. 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. In addition, all candidates must undergo applicable background checks and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.”
  2. Compensation and benefits may vary by home-base location. While we try to accommodate requests, preferred home-base location is not guaranteed.