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Quantitative Fellowship Program

2019 QFP Participants

2019 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.

For the QFP, 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:
Dec. 21, 2020

Offers extended by:
March 15, 2021

Program starts:
July 12, 2021

You’ll spend at least 50 percent of your time at your home base and the rest of the time working on-site at other Federal Reserve locations.

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.

About us

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.

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

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 business administration (with quantitative emphasis), 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 models
  • Ability to present technical issues to nontechnical audiences and to clearly articulate findings verbally and in writing
  • Willingness to travel up to 50 percent of your time in the program
  • Meet the Protected Individual requirement. See Note 1.

Applying

The application period for the 2021 program is now open. Click here to apply

Notes

  1. The Board of Governors of the Federal Reserve System mandates that individuals authorized to access banking supervision and regulation Confidential Supervisory Information (CSI) must be “Protected Individuals,” which covers two categories: U.S. citizens or lawful permanent residents and other noncitizens who apply for citizenship within six months of becoming eligible and, if offered a position, will sign a Declaration of Intent to become a U.S. Citizen. (Students on work visas generally would not meet this requirement.)
  2. Compensation and benefits may vary by home-base location. While we try to accommodate requests, preferred home-base location is not guaranteed.