The Federal Reserve Bank of Minneapolis

Position Title/Short Description

Full Text of JOE Listing:

The Organization:

The Federal Reserve Bank of Minneapolis is one of twelve Reserve Banks that, along with the Board of Governors in Washington, D.C., constitute the nation’s central bank. It is part of the Federal Reserve System, which was established by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary system.

The Federal Reserve Bank of Minneapolis is located in Minneapolis, MN, and has a branch office in Helena, MT. The Bank represents the Ninth Federal Reserve District, which includes Montana, North and South Dakota, Minnesota, northwestern Wisconsin and the Upper Peninsula of Michigan. The Minneapolis Fed participates in setting national monetary policy, supervises numerous banking organizations, and provides a variety of payments services to financial institutions and the U.S. government.

A Federal Reserve Bank’s Research Division exists to produce economic research and policy analysis and advice. The Research Division of the Federal Reserve Bank of Minneapolis has a long history of producing top-tier academic research on a range of long-term issues broadly related to the policy mission of the Federal Reserve. The Division also produces higher frequency policy analysis and advice to support the President of the Bank’s participation in Federal Open Market Committee (FOMC) meetings and other strategic bank policy initiatives. Minneapolis has a Research staff of more than one hundred, including research and policy economists, research analysts and assistants, local and national research consultants, visiting scholars from around the world, and a team of highly trained support staff.

The Role:

Overview:

The new SVP & Director of Research will provide strategic direction and leadership for all of the division’s research and policy priorities. He or she will inspire a group of outstanding academic economists and shape the vision of a department that has made path-breaking contributions in both academia and policy. The Bank President and the Board of Directors are committed to carrying forward the tradition of excellence.

On the research front, the Director will build on the tradition of academic excellence by fostering a superior research environment, and recruiting and retaining outstanding researchers.

On the policy front, the Director will harness the expertise within the division to make the Minneapolis Fed an influential voice within the FOMC, as well as in the broader public discussion on a wide range of economic policy issues facing the Federal Reserve and the nation.

In addition to their core responsibilities, the Director of Research will have the opportunity to pursue independent research.

Key Responsibilities:

Advisor to the Bank President and Board of Directors
• Ensure the Research Division provides high quality economic policy advice and analysis to the President of the Bank.
• Support and lead high-priority Bank policy initiatives.
• Assume responsibility for effective FOMC-related support; attend FOMC meetings in Washington, D.C.
• Support the Bank’s Board of Directors in their policy-related responsibilities.

Research Division Administration
• Maintain the strong academic research tradition of the Minneapolis Fed by fostering the best possible research environment, and by recruiting and retaining top researchers.
• Develop staff engagement in the Federal Reserve’s policy mission and maximize the extent to which the best academic work informs and drives public policy.

Strategic Leadership
• Participate in the Bank’s Management Committee.
• Be a leader within the Bank in vision, presence, and citizenship.
• Provide effective research support and input to a wide range of Bank efforts.
• Build connections with other Reserve Banks and the Federal Reserve Board to increase the Bank’s thought leadership within the Federal Reserve System.
• Represent and promote Minneapolis Fed research and policy ideas in the public arena.

Diversity and Inclusion
• Actively support the Bank’s diversity agenda and hold self and others accountable for creating an inclusive workplace.
• Mentor and support staff to develop the next generation of Bank leaders.

The Person:

• Ph.D. in Economics with extensive knowledge of macroeconomics.
• Strong academic record of publications in economics.
• Deep interest in improving public policy and commitment to the mission of the Federal Reserve System.
• Excellent managerial skills and leadership experience.
• Proven ability to work collaboratively in business teams; strong interpersonal and relationship-building skills.
• Strong written and oral communication skills.
• Experience in a policy environment, such as the Federal Reserve, U.S. Treasury Department, International Monetary Fund, or Council of Economic Advisors, preferred.

Security Clearance:

• Ability to obtain necessary security clearance through status as a U.S. citizen or as a green card holder with signed intent to become a U.S. citizen within 6 months of eligibility.

The Federal Reserve Bank of Minneapolis is an Equal Opportunity Employer.
Our people proudly reflect the diversity and ideas of the communities we serve.