Economist (RAMP) Job in Washington, DC

Vacancy No. DRS-24-11-DH Department Federal Housing Finance Agency
Salary $58,014.00 to $117,783.00 Grade 7 to 9
Perm/Temp Temporary FT/PT Full-time
Open Date 9/13/2024 Close Date 11/29/2024
Job Link Apply Online Who may apply Public
Locations:
Washington, DC


Summary

DRS is seeking ideal candidates for participation in its Research Assistant Mentorship Program (RAMP). Selected candidates will serve as Research Assistants (RAs) in a two-year developmental program that provides training in areas like research, policy evaluation, and data management. The program is well-suited for candidates hoping to pursue a PhD or master's degree program or an applied statistics career in economics, finance, data science, or public policy.

Duties

Research Assistant Mentorship Program (RAMP)

Selected candidates will serve as RAs in a two-year developmental program working closely with senior level economists providing economic research and critical support for data management and policy evaluation. Each RA will be assigned to a mentor Ph.D. economist, who will oversee their progress and offer regular feedback throughout the program. The first year involves training with data analysis, database management, computer systems, programming skills, statistics, and econometrics. Each RA will complete assigned projects that could include developing code, writing or presenting summaries of findings, and generating new ideas. The second year focuses on developing and conducting research with mentors. Potential research topics include housing programs, housing markets, house price indexes, financial institutions, secondary mortgage market operations, climate and natural disaster risk in housing markets, appraisal valuation, survey analysis and other related topics to identify significant and emerging risks such as market, interest rate, operational and credit risks. Opportunities may involve any or a combination of research, policy, or analysis.

The Economist duties listed below are at the EL-09 level. Depending on the grade level selected, the incumbent will perform the following duties with varying levels of supervision and difficulty:

  • Provides analytical support for the DRS. Projects may include research and the identification of emerging risks and trends in the housing market as well as monitoring programs, all developed by senior staff. These monitoring programs are designed to analyze the business practices of FHFA's regulated entities. The incumbent supports the development and operation of the monitoring programs by collecting, validating, transforming, and analyzing data from the regulated entities, using a variety of tools such as Microsoft Excel, SAS, Stata, R, Python and others to organize data and support technical conclusions. Database skills include experience in accessing databases via standardized and ad hoc query tools, assisting or participating in validating and correcting newly acquired and existing data, and monitoring data using programming, reporting, analysis and/or data visualization tools. This responsibility requires developing and maintaining familiarity with best practices and trends through continuous training inside and outside FHFA.
  • Assists in drafting monitoring reports, which, on occasion, includes providing supporting information for recommendations. The input is reviewed and approved by other staff members.
  • Participates in other economic or financial research or banking projects that are key to the DRS overall supervisory program. Works with teams consisting of other economists and financial analysts across the agency.
  • Responds to inquiries from staff and approved non-FHFA sources for technical and analytical support.
  • Supports the preparation of written policies, procedures, and manuals by documenting assumptions, methodologies, and procedures used for generating standardized reports.
  • Performs other duties as assigned.
This is a term appointment not to exceed 2 years. Term appointments are non-status, non-permanent appointments of limited duration of more than 1 year, but not more than 2 years, with the possibility to extend for no more than an additional two years subject to funding. Should the need warrant, term appointments may be extended without further competition up to a maximum year limitation, subject to funding. The appointment to a term position does not confer eligibility for permanent employment.

Requirements

Conditions of Employment

  • Must be a U.S. Citizen
  • Males born after 12-31-59 must be registered for Selective Service
  • Resume and supporting documents (See How To Apply)
  • Suitable for Federal employment, as determined by background investigation
  • May be required to successfully complete a probationary period
  • Only experience and education obtained by the closing date of this announcement will be considered.
  • This is a 2 year term appointment
  • If you are currently, or have been within the last 5 years, a political Schedule A, Schedule C, Non-career SES or Presidential Appointee employee in the Executive Branch, you must disclose this information to the Human Resources Office.
  • This position may be required to complete a financial disclosure report.
  • FHFA participates in e-Verify. All new hires must complete the I-9 Employment Verification form either on or before their first day of employment. If a discrepancy arises, you must take affirmative steps to resolve the matter.
  • This position is eligible for inclusion in the bargaining unit. The union that represents employees in this position is the National Treasury Employees Union (NTEU) Chapter 343.
  • This is NOT a remote position; you MUST live within or be willing to relocate within a commutable distance of the Washington, DC duty location.
  • Salary is dependent on education and experience.

Qualifications

You may qualify for your desired series and grade level if you meet the following qualification requirements:

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. Combination of education and experience: courses equivalent to a major in economics, as shown in A above, plus appropriate experience or additional education.

In addition to meeting the above basic education or education and experience requirements, applicants must also meet the following minimum qualifications for their desired grade level:

Minimum Qualification EL-07: Applicants must have 52 weeks (one-year) of specialized experience equivalent to the next lower grade level and/or directly related education as described below. From the description below, if you choose options "B", "C" or "D" you must provide transcripts with your application.

A. Experience: I qualify for the EL/GS-07 because I have at least 52 weeks of specialized experience at the EL/GS-05 or equivalent demonstrating work experience with the following: Knowledge/application of economic theory, practices, methods and techniques and knowledge/application of statistical computation methods, data collection, and economic systems to analyze and research economic factors. -OR-

B. Education:1 full year of graduate level education in applied economics, econometrics, financial economics, mathematics, data science, statistics, public policy or other fields related to the position. -OR-

C. Superior Academic Achievement (S.A.A.): a bachelor's degree curriculum directly related to the work of the position. To qualify for superior academic achievement, you must have ONE of the following: (1) standing in the upper third of your college class or major subdivision at the time you apply; (2) grade point average of B (3.0 on a 4.0 scale) or B+ (3.5 on a 4.0 scale) or its equivalent for all courses completed, either (a) at the time of application or (b) during the last 2 years of your undergraduate curriculum; (3) election to membership in one of the national honorary scholastic societies that meets the requirements of the Association of College Honor Society. Note: Grade-point averages are to be rounded to one decimal place. For example, 2.95 will round to 3.0 and 2.94 will round to 2.9. -OR-

D. Combination of education and experience:as described above in options "A" and "B". Note: Less than one year of specialized experience may be combined with graduate education more than the amount required for the next lower grade level. One academic year of graduate education is the number of credits hours determined to represent one academic year of full-time study (i.e.,18 semester hours (or 27 quarter hours).

Minimum Qualification EL-09: Applicants must have 52 weeks (one-year) of specialized experience equivalent to the next lower grade level and/or directly related education as described below. From the description below, if you choose options "B" or "C" you must provide transcripts with your application.

A. Experience: I qualify for the EL/GS-09 because I have at least 52 weeks of specialized experience at the EL/GS-07 or equivalent demonstrating work experience with three of the five listed below:

(1) Demonstrated work experiences with supporting economic policy, analysis, evaluation or visualization of economic data, and reporting of market trends.
(2) Demonstrated work experiences in data collection of economic information, validating or correcting acquired data, transforming and standardizing data, and monitoring updates through programming, reporting, software, or other analytic tools.
(3) Demonstrated work experiences with drafting policies, procedures, or manuals that document assumptions, methodologies, and best practices used for generating standardized reports or data production activities.
(4) Demonstrated work experiences conducting individual research assignments requiring planning, information assembly, implementation of econometric or financial methodologies, analysis and evaluation, and technical writing that conveys relevant findings or appropriate recommendations
from statistical results.
(5) Experience communicating orally and in writing with diverse audiences, including but not limited to colleagues, senior management, and the general public on economic data or concepts. -OR-

B. Education: Completion of two (2) academic years of graduate-level education, or a master's degree or equivalent graduate degree from an accredited college of university directly related to the work of the position (i.e., applied economics, econometrics, financial economics, mathematics, data science, statistics, public policy or other fields related to the position). -OR-

C. Combination of education and experience as described above in options "A" and "B". Note: Less than one year of specialized experience may be combined with graduate education more than the amount required for the next lower grade level. One academic year of graduate education is the number of credits hours determined to represent one academic year of full-time study (i.e., 18 semester hours (or 27 quarter hours).

Demonstrated experience with data analysis and applied methods is preferred. Candidates must demonstrate effective written and oral communication skills.


Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g., Peace Corps, AmeriCorps) and other organizations (e.g., professional; philanthropic; religious; spiritual; community, student, social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience.

Education

ARE YOU USING YOUR EDUCATION TO QUALIFY? You MUST provide transcripts or other documentation to support your educational claims. Unless otherwise stated: (1) official or unofficial transcripts are acceptable, or (2) you may submit a list with all of your courses, grades, semester, year, and credit for the course. All materials must be submitted by the closing date of the announcement.

GRADUATE EDUCATION: One academic year of graduate education is considered to be the number of credits hours your graduate school has determined to represent one academic year of full-time study. Such study may have been performed on a full-time or part-time basis. If you cannot obtain your graduate school's definition of one year of graduate study, 18 semester hours (or 27 quarter hours) should be considered as satisfying the requirement for one year of full-time graduate study.

FOREIGN EDUCATION: If you are using education completed in foreign colleges or universities to meet the qualification requirements, you must show the education credentials have been evaluated by a private organization that specializes in interpretation of foreign education programs and such education has been deemed equivalent to that gained in an accredited U.S. education program; or full credit has been given for the courses at a U.S. accredited college or university. For further information, visit: http://www.ed.gov/about/offices/list/ous/international/usnei/us/edlite-visitus-forrecog.html

Additional information

An Overview of FHFA's Benefits for Fiscal Year 2024-2025 provides a summary of benefits for the current fiscal year.

Please be advised that this is a two-year temporary appointment, with the possibility to extend for no more than an additional two years subject to funding.

Salary is dependent on education and experience.

If you are a veteran with preference eligibility and are claiming 5-points veterans' preference, you must submit a copy of your DD-214 or other proof of eligibility. If you are claiming 10-point veterans' preference, you must also submit an SF-15, "Application for 10-Point Veterans' Preference" plus the proof required by that form. For more information on veterans' preference visit: https://www.usajobs.gov/Veterans.

Males born after 12-31-59 must be registered or exempt from Selective Service (see https://www.sss.gov/RegVer/wfRegistration.aspx).

Career Transition Assistance Programs: These programs apply to employees who have been involuntarily separated from a Federal service position within the competitive service or Federal service employees whose positions have been deemed surplus or no longer needed. To receive selection priority for this position, you must: (1) meet CTAP or ICTAP eligibility criteria; (2) be rated well-qualified for the position and, (3) submit the appropriate documentation to support your CTAP or ICTAP eligibility. For more information visit: http://www.opm.gov/rif/employee_guides/career_transition.asp.

FHFA is an Equal Opportunity Employer and all qualified applicants will receive consideration for employment regardless of race, color, religion, gender (including pregnancy, sexual orientation, and gender identity), national origin, disability (physical or mental), age (40 years of age or over), genetic information, parental status, marital status, prior protected EEO activity, political affiliation, or other non-merit factors.

REASONABLE ACCOMODATION:FHFA provides reasonable accommodations to applicants with disabilities, except when doing so would pose an undue hardship on the Agency. If you need a reasonable accommodation for any part of the application and hiring process, please notify FHFA. The Agency's decision on granting a reasonable accommodation will be made on a case-by-case basis.

Ethics: FHFA employees are subject to government-wide ethical standards of conduct, financial disclosure requirements, and post-employment prohibitions. In addition, certain FHFA employees are prohibited from accepting compensation from Fannie Mae and Freddie Mac for a two-year period after terminating employment with FHFA. Furthermore, to avoid financial conflicts-of interest or the appearance of conflicts-of-interest, FHFA employees may need to divest or sell certain assets they, their spouse, or minor children own or control, including securities issued by Fannie Mae, Freddie Mac, or the Federal Home Loan Banks. Employees who work on Federal Home Loan Bank issues may need to sell or divest financial interests with any of the Federal Home Loan Bank members, which may include stock in bank holding companies, insurance companies, and other financial services firms. Questions regarding these requirements and prohibitions should be directed to the Office of General Counsel at (202) 649-3088.

Benefits

A career with the U.S. government provides employees with a comprehensive benefits package. As a federal employee, you and your family will have access to a range of benefits that are designed to make your federal career very rewarding. Opens in a new windowLearn more about federal benefits.

Review our benefits

Eligibility for benefits depends on the type of position you hold and whether your position is full-time, part-time or intermittent. Contact the hiring agency for more information on the specific benefits offered.

How You Will Be Evaluated

You will be evaluated for this job based on how well you meet the qualifications above.

This announcement is opened until November 29, 2024. The Hiring Official will receive a list of qualified candidates every three-weeks until all vacancies are filled, or the announcement closes. Applicants are encouraged to apply early in order to maximize their employment opportunities. The initial cut-off date for referral of eligible applications will be October 4, 2024, with subsequent cut-off dates on 10/25/24, and 11/15/2024. Eligible applications received after 11/15/2024 will be referred after the close of the announcement. Final application disposition will be completed once the position has been filled or the announcement reaches the end of the open period.

This position is being filled through Federal Housing Finance Agency's hiring authority granted by the Housing Economic Recovery Act (HERA). All applicants meeting the basic qualification requirements will be forwarded to the selecting official for consideration. Candidates with Veteran's preference, who meet the specialized experience and education requirements for this vacancy, will be given priority consideration over non-preference candidates.

We recommend that you preview the online questions for this announcement before you start the application process. To preview the assessment questionnaire: https://apply.usastaffing.gov/ViewQuestionnaire/12543581

All of the information you provide will be verified by a review of the work experience and/or education as shown on your application forms, by checking references or through other means, such as the interview process. This verification could occur at any stage of the application process. Any exaggeration of your experience, false statements, or attempts to conceal information may be grounds for rating you ineligible.

During the interview process, you might be asked to provide letters of reference. Please do not upload the letters to your application. Instead, your recommenders should email the letters directly to JobsforeconomistsDRS@fhfa.gov.

In accordance with the Fair Chance Act, the Federal Housing Finance Agency (FHFA) may not request, in oral or written form, that an applicant for an appointment to (FHFA) disclose criminal history record information before the appointing authority extends a tentative offer to the applicant. Allegations of FHFA violations of this Act may be submitted to fairchanceactcomplaints@fhfa.gov or to Fair Chance Act Complaints, Office of Human Resources Management, Employee Relations Branch, FHFA 400 7th Street, SW Washington DC 20219 within 30 days from the agency employee's alleged non-compliance with the law.

Required Documents

FHFA's application process has been specifically developed to ensure that we only ask you for the information we absolutely need to evaluate your qualifications and eligibility. All applicants are required to submit the following supportive documents:

1. Your Resume: If you have not written a federal resume before, you may want to watch this Resume Writing Tutorial video on the USAJOBS YouTube channel, or read through a helpful Resume Writing FAQ on the USAJOBS Help Site to learn what details you should, and should not, include in your resume. A CV (curriculum vitae) may not contain enough information to meet these resume requirements.

  • Your resume should list all work experience (paid and unpaid); you must list the full name of each employer.
  • For all types of work experience, you should indicate the start and end date (include month and year); you must also list the average number of hours per week that your worked.
  • Your resume should also include any education and training you have completed (list the program title, subject area, number of hours completed, and completion date).
2. Required: This position may require a minimum level of education or a combination of education and experience. Please submit your transcripts (official or unofficial) along with your application. Failure to provide transcripts, when required, will result in removal from the hiring process. Note: If you are selected for a position, an official transcript will be required before onboarding.

3. Cover letter

4. Required, if applicable: CTAP/ICTAP documentation (a copy of a separation notice or other proof of eligibility for priority selection; a copy of an SF-50, Notification of Personnel Action, showing current position, grade, promotion potential, and duty location; AND a copy of your most recent performance appraisal.)

5. Required, if applicable: Veteran's Preference Documentation (DD-214, Member Copy 4 or other documentation containing dates of service and character of discharge. Disabled veterans and other applicants eligible for 10-point Veteran's Preference please include: documentation to validate your claim - VA letter, SF-15, etc.).

Important Notes:
  • Utilize the preview feature of USA Jobs to view your documents and ensure the formatting remains and all documents are legible.
  • Additional materials will not be accepted after the announcement closes (e.g. updated grades, updated resume, etc.).
  • Your full name must be clearly visible on all documents.
  • Do not submit encrypted documents.
  • Tips: Encrypted documents do not transmit properly through USA Jobs. We recommend, you save the document as a new PDF, or Print to PDF to ensure the document comes through properly and is displayed properly using the USA Jobs preview feature.
  • If the position has an education requirement or you are qualifying on the basis of education, you need to list your education history including the type of degree and your major of study. If the position requires a certain number of credit hours, you are strongly encouraged to list the relevant courses in your resume. Do not include a photograph or video of yourself, or any sensitive information (age, date of birth, marital status, protected health information, religious affiliation, social security number, etc.) on your resume or cover letter. We will not access web pages linked on your resume or cover letter to determine your qualification.
Failure to submit any of the above-mentioned required documents may result in loss of consideration due to an incomplete application package. It is your responsibility to ensure all required documents have been submitted.

If you are relying on your education to meet qualification requirements:

Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications. Therefore, provide only the attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education.

Failure to provide all of the required information as stated in this vacancy announcement may result in an ineligible rating or may affect the overall rating.

How to Apply

To apply for this position, you must complete the online application and submit the documentation specified in the Required Documents section below.

A complete application package must be submitted by 11:59 PM (EST) on 11/29/2024 to receive consideration.

  • To begin, click Apply to access the online application. You will need to be logged into your USAJOBS account to apply. If you do not have a USAJOBS account, you will need to create one before beginning the application.
  • Follow the prompts to select your resume and/or other supporting documents to be included with your application package. You will have the opportunity to upload additional documents to include in your application before it is submitted. Your uploaded documents may take several hours to clear the virus scan process.
  • After acknowledging you have reviewed your application package, complete the Include Personal Information section as you deem appropriate and click to continue with the application process.
  • You will be taken to the online application which you must complete in order to apply for the position. Complete the online application, verify the required documentation is included with your application package, and submit the application.

To update your application, including supporting documentation: During the announcement open period, return to your USAJOBS account, find your application record, and click Edit my application. This option will no longer be available once the announcement has closed.

To view the announcement status or your application status: Click on this: https://www.usajobs.gov/Help/how-to/application/status/. Your application status page is where you can view your application status, and review your notifications sent by the hiring agency regarding your application.

If you are unable to apply online, you must request an alternative application which is available from the Human Resources Office. Please contact Devin Hinkle at devin.hinkle@fhfa.gov or (202) 649-3777 to obtain an alternative application.

Agency contact information

Devin Hinkle
Address
FEDERAL HOUSING FINANCE AGENCY
400 7th Street, SW
Washington, DC 20219
US
Learn more about this agency

Next steps

After all application packages have been received, we will review your materials to ensure you meet the basic qualification requirements. We will evaluate each applicant who meets the basic qualifications on the information provided in his/her resume and the completed Occupational Questionnaire. Applicants deemed best-qualified may be contacted for an interview. We anticipate making a final job offer for this position within 45 days after the deadline for applications. All candidates will be notified of the final disposition.

***There are currently a few vacancies available. However, should additional vacancies become available within three months from the opening date of this announcement, eligible applicants for this position may be referred for consideration for the additional position(s).

FHFA may select from this announcement or any other source to fill one or more vacancies. This announcement may be used to fill like positions in other organizations within the Federal Housing Finance Agency. Applying to this announcement certifies that you give permission for FHFA to share your application with others in FHFA for similar positions.


Note: We cannot accept applications on behalf of Federal Agencies. Application instructions are listed within the Job Description.


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