Duties

As a Financial Economist, you will:

• Analyze and evaluate bank specific quantitative reports and relevant work products (e.g., model development documents, validation reports, and on-going monitoring reports) to evaluate the effectiveness of a bank's model risk management practices.
• Apply advanced financial, economic, and quantitative theories, principles, methods and techniques to perform complex assignments such as the assessment of various econometric or statistical modeling approaches.
• Conduct complex on-site and off-site bank/thrift savings association-specific analyses that relate to market, commercial credit or retail credit:
  Market Risk: Apply quantitative finance principles and economic theories to analyze risks of supervised banks' activities in capital markets areas, including derivatives trading, balance sheet management, mortgage banking and asset management.
  Commercial Credit Risk: Apply economic theories and principles to areas that covers various model types (such as risk rating, PD, LGD, EAD, structured finance, portfolio credit risk, macroeconomic forecasting models for CECL, PPNR, securitization, economic capital, and asset management) for various safety and soundness purposes (such as underwriting, pricing, risk management, ALLL/CECL, stress testing, P&L, economic capital and regulatory capital) within the areas of commercial credit (such as C&I, CRE, Financial Institutions, agriculture) and operational risk.
  Retail Credit Risk: Apply economic theories and principles to develop and assess various econometric modeling approaches used by bank lenders to measure/identify credit risks for the purposes of underwriting, pricing, line assignment/management, portfolio risk management, allowance for credit losses, regulatory capital, or stress testing for retail credit portfolios (which include mortgage, home equity, credit card, auto, unsecured personal loans, student loans, small business).
• Conduct self-directed (i.e., independent) or directed research and prepare professional papers to be published in peer reviewed academic journals, as applicable.
• Support projects, as requested, by the Comptroller and senior management for subject matter expert analysis or recommendations on a variety of topics including policy and management issues confronting the OCC.
• Initiate analytical projects to facilitate the understanding of emerging risks or the impact of policy or regulation, or the development of quantitative techniques for risk measurement/identification.

Requirements

Conditions of Employment

• To ensure compliance with an applicable preliminary nationwide injunction, which may be supplemented, modified, or vacated, depending on the course of ongoing litigation, the Federal Government will take no action to implement or enforce the COVID-19 vaccination requirement pursuant to Executive Order 14043 on Requiring Coronavirus Disease 2019 Vaccination for Federal Employees. Therefore, to the extent a Federal job announcement includes the requirement that applicants must be fully vaccinated against COVID-19 pursuant to Executive Order 14043, that requirement does not currently apply.
• Complete a one-year probationary period (unless already completed).
• Complete a background investigation (unless already completed).
• Complete a Declaration for Federal Employment to determine your suitability for Federal employment.
• Have your salary sent to a financial institution of your choice by Direct Deposit/Electronic Funds Transfer.
• Go through a Personal Identity Verification (PIV) process that requires two forms of identification from the Form I-9 . Federal law requires verification of the identity and employment eligibility of all new hires in the U.S.
• Travel occasionally to attend conferences and/or training and/or on-site examinations.
• Obtain and use a Government-issued charge card for business-related travel.
• File an OCC Financial Disclosure Form. Complete a financial disclosure review and resolve any ethics issues.
• Click here for important information about OCC ethics standards, such as the requirement that new hires divest their bank securities.
• Successfully complete a background investigation that includes criminal history, financial history (including a credit check) and other information.

Qualifications

You must meet the following requirements by the closing date of this announcement:

BASIC REQUIREMENTS :
A. Degree: Economics, that included at least 21 semester hours in economics and 3 semester hours in statistics, accounting, or calculus. OR
B. A combination of education and experience: courses equivalent to a major in economics, as shown in A above, plus appropriate experience or additional education. Examples of qualifying experience include: a) individual economic research assignments requiring planning, information assembly, analysis and evaluation, conclusions and report preparation; b) supervisory or project coordination assignments involving a staff of professional economists, and requiring the evaluation and interpretation of economic information; or c) teaching assignments in a college or university that included both class instruction in economics subjects and one of the following (1) personal research that produced evidence of results, (2) direction of graduate theses in economics, or (3) service as a consultant or advisor on technical economics problems.

Band V.2:
In addition to meeting the BASIC REQUIREMENTS above, you must meet and/or possess at least one of the following:
One year of specialized experience at a level of difficulty and responsibility equivalent the next lower level, NB-IV or GS-11 in the Federal service. This experience may have been gained in either the public or private sector. Specialized experience for this position includes:

• Conducting research involving the application of economic, financial, or quantitative theories, principles or methods.

OR

Completed 3 years of progressively higher level graduate education leading to a Ph.D. degree or Ph.D. or equivalent doctoral degree that provided the knowledge, skills, and abilities necessary to do the work of this position.

OR

Combination of the education and experience above. Your percentage of the required experience and education must total to at least 100% to qualify using this option.

NOTE: Examples of research may include: Independently planning and conducting financial or economic research projects; experience applying analytical and research techniques (e.g., econometrics, mathematical economics, operations research, benefit-cost analyses, and cost-effectiveness analyses); developing mathematical or statistical models to assess the impact of financial developments on the economy.

Band VI:
In addition to meeting the BASIC REQUIREMENTS above, you must have one year of specialized experience at a level of difficulty and responsibility equivalent to the NB-V band level or GS-13 grade level in the Federal service. Specialized experience for this position includes:

• Experience conducting research involving the application of economic, financial, or quantitative theories, principles or methods.
• Experience developing and disseminating financial, economic or quantitative research findings as evidenced by publishing in peer-reviewed journals (must list or include publications that were subject to peer-review in your resume).

This experience may have been gained in the public sector, private sector, or through volunteer service. One year of experience refers to full-time work; part-time work is considered on a prorated basis.

To receive any credit for your work experience, please indicate dates of employment by month/year, and indicate the number of hours worked per week, on your resume.

Education

Please see Qualifications section for education.

Additional information

• This position is included in the bargaining unit.
• This position is a Step 2 level position within the NB-V pay band. Step 2 level positions are distinguished by additional job complexity, responsibility, and advanced skill levels required by the work.
• Salary range includes 23.31% geographical pay.
• If you are a current OCC employee who previously received a waiver determination permitting you to retain bank securities due to extenuating circumstances, please note that this determination may be rescinded if the nature of your duties changes. We strongly suggest that you discuss the potential implications of any change in duties on a prior securities determination with your ethics official.
• We may select from this announcement or any other source to fill one or more positions.
• Click all links in this vacancy announcement to view additional information and instructions.
• The candidate selected for this position may be credited with directly-related non-Federal experience for annual leave purposes if eligible and considered appropriate.
• Please refer to "Conditions of Employment."
• Click "Print" to review the entire announcement before applying.