What You Will Do  

Intern Project: 

The intern will be working on a research project that studies how Machine Learning (ML) techniques can be used to predict credit performance for retail loans like auto, other consumer loans, or student loans using Equifax Consumer Credit Panel (CCP) data.   

Project timeline: 

• Phase 1 (Weeks 1-2): Assemble training and test sample dataset using CCP auto, other loan and student loan tradelines 

• Phase 2 (Weeks 3-5): Perform the data cleaning and gain related knowledge of CCP tradeline data. 

• Phase 3 (Week 6): Deploy common linear model techniques like logistic regression models, and popular ML models to predict default of retail loans. Perform model performance comparison during GFC, Pandemic and other periods. 

• Phase 4 (Weeks 7-9): Identify areas where ML models can complement traditional linear models. 

• Phase 5 (Week 10): The intern will prepare a presentation on their findings and present this to interested RMR modelers and FRB as the capstone to this internship. 

What You Have

• PhD or graduate student studying economics, finance, statistics, applied mathematics, data analytics, computer science, or other related majors 

Required Skills: 

• Familiar with popular ML packages provided in Python or R environment. Python is the preferred language 

• Some experience with handling large datasets  

Preferred Competencies: 

• Excellent problem-solving and communication skills 

• Detail oriented and very organized about codes and documentation 

Additional Information: 

• The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “rb@myworkday.com”.  If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity.  If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at TalentAcquisition@phil.frb.org.
• We are an equal opportunity employer committed to hiring the best candidates and to providing equal employment opportunity to all persons without regard to race, color, religion, sex, pregnancy, national origin, age, genetic information, disability, military service, or any other basis protected by law.
• We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment. If you need assistance or an accommodation due to a disability, please email us at TalentAcquisition@phil.frb.org.
• All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the Recruiter for this posting, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
• Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the
• All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
• Certain eligibility rules apply. You will provide work authorization to prove your eligibility to work in the United States.
• The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any description at its discretion at any time.
• This is NOT a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.

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