Clarification from the agency

U.S. Citizens and U.S. Nationals. No prior Federal service is required. This is a Direct Hire Public Notice. A government-wide Direct Hire Authority exists for Economist positions in the 0110 series. UNDER THIS AUTHORITY CATEGORY RATING, "RULE OF THREE", AND VETERANS' PREFERENCE PROCEDURES DO NOT APPLY.

The Retail Credit Risk Analysis Division (RC-RAD), within Economics and Risk Analysis at the Office the Comptroller of the Currency, is located in Washington D.C. RC-RAD economists serve as advisors to senior management and other stakeholders in the agency on supervision and banking policy in the areas of consumer credit risk modeling and broader consumer credit research questions related to consumer credit, consumer/household finance, and bank/non-bank financial institutions.

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 retail credit.
• 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 topics including retail credit risk, consumer/household finance, banking, and modeling issues as well as policy and management issues confronting the OCC.
• Initiate analytical projects to facilitate the understanding of emerging retail credit risks or the impact of policy or regulation, or the development of quantitative techniques for retail credit risk measurement/identification.

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
• 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.

Qualifications

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

BASIC REQUIREMENTS:
1) Degree in Economics, that included at least 21 semester hours in economics and 3 semester hours in statistics, accounting, or calculus. (Ph.D. or equivalent doctoral degree OR 3 years of progressively higher-level graduate education leading to a Ph.D. degree).
OR
2) A combination of education and experience: Courses equivalent to a major in economics, as shown 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.

AND

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-IV band level or GS-11 grade level in the Federal service.

Specialized experience is experience that equipped the applicant with the particular knowledge, skills, and abilities to perform successfully the duties of the position and is typically in or related to the work of the position to be filled. Specialized experience for this position includes:

• Conducting research involving the application of economic, financial, or quantitative theories, principles or methods. (e.g. dissertation, Job Market Paper, Publications, Working Papers, or Work-in-Progress).

OR
3 years of progressively higher-level graduate education leading to a Ph.D. degree
OR
Ph.D. or equivalent doctoral degree

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.

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.

How you will be evaluated

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

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

Your application includes your resume, responses to the online questions, and required supporting documents. Please be sure that your resume includes detailed information to support your qualifications for this position; failure to provide sufficient evidence in your resume may result in a "not qualified" determination.

Referral: All applicants who meet the minimum qualifications for the position will be referred to the selecting official for consideration. You may be required to participate in a selection interview.

If you are a displaced or surplus Federal employee eligible for the Career Transition Assistance Plan (CTAP)/Interagency Career Transition Assistance Plan (ICTAP), you must be Well-Qualified to receive special selection priority. "Well-Qualified" means conducting and managing research projects and activities involving the application of economic/econometric techniques and quantitative modeling related to capital markets examination of national banks/federal savings associations.