JOE Listings (Job Openings for Economists)

August 1, 2020 - January 31, 2021

Federal Housing Finance Agency

Division of Bank Regulation
Office of Risk Analysis and Modeling

JOE ID Number: 2020-02_111465230
Date Posted: 09/03/2020
Position Title/Short Description
Title: Economist
Section: Full-Time Nonacademic
Location: Washington, District of Columbia, UNITED STATES
JEL Classifications:
C0 -- General
D0 -- General
G0 -- General
H0 -- General
L0 -- General
Risk analytics
Housing finance
Federal Home Loan Banks
Credit risk
Policy analysis
Bank examination
Financial institutions
Salary Range: $82, 208-167,278
Full Text of JOE Listing:

FHFA has multiple openings in the Division of Bank Regulation available in 2020 and 2021. As an independent federal agency, FHFA regulates both the safety and soundness, and missions, of the Federal Home Loan Bank System, Fannie Mae, and Freddie Mac. Economists with interests in financial regulation, credit and market risk modeling, housing policy, housing finance and mortgage markets, and capital markets, are encouraged to apply. Candidates with solid applied micro and quantitative analysis skills, and no relevant issue area experience, may also be competitive for some positions. A Ph.D. in economics is preferred. Periodic travel within the U.S. may be required once pandemic-related telework is relaxed. Salary dependent on education and experience.

Economists in the Division of Bank Regulation focus on credit, market, and operational risk modeling and measurement, both for purposes of developing new approaches and for examining the application of such methodologies at the FHLBanks. Successful candidates will have a strong background in applied microeconomics, empirical analysis, and possess excellent communication and research skills. Assignments cover collateral credit risk modeling and valuation, modeling counterparty credit-ratings, risk-based capital policy including market and credit risk stress testing, and risk modeling of the FHLBanks mortgage purchase programs. Economists in this Division participate in examinations of the FHLBanks concerning these issues, and are also expected to contribute to policy work, including producing regular monitoring reports and developing and disseminating new approaches to stress testing, and risk modeling and measurement in general.

FHFA employees enjoy all the standard federal benefits plus additional agency-specific benefits and competitive salaries not tied to the traditional Government's General Schedule pay system.

FHFA is an Equal Opportunity Employer.

Application Requirements:
  • External Application Link
  • Letters of Reference Instructions Below
Application deadline: 01/31/2021
Reference Instructions:
The application process requires a resume/curriculum vitae, and a research paper along with the application.

Separately, please arrange for three letters of reference to be sent to:, with the subject line: “Reference for [Applicant’s name”].

For more information about the FHFA or this position, please contact:

Pratima Subbarao, Account Manager, Office of Human Resources at the Federal Housing Finance Agency at (202) 431-8314 or

US Citizenship is required.

This vacancy will have a cut off after 2 weeks, and then will have cut offs as requested by management. All applications that meet the minimum qualification requirements and are received by 11:59 pm (EST) on the date a request for resumes is received, will be referred to management for selection. This vacancy may be closed prior to the application deadline if the positions are filled before the closing date.