Company Profile
Board of Governors of the Federal Reserve System
Company Overview
The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.
Today, the Federal Reserve's duties fall into four general areas:
1) Conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
2) Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers
3) Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
4) Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system
Notable Accomplishments / Recognition
The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest. The Federal Reserve
conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy;
promotes the stability of the financial system and seeks to minimize and contain systemic risks through active monitoring and engagement in the U.S. and abroad;
promotes the safety and soundness of individual financial institutions and monitors their impact on the financial system as a whole;
fosters payment and settlement system safety and efficiency through services to the banking industry and the U.S. government that facilitate U.S.-dollar transactions and payments; and
promotes consumer protection and community development through consumer-focused supervision and examination, research and analysis of emerging consumer issues and trends, community economic development activities, and the administration of consumer laws and regulations.
Benefits
Federal Reserve Board employees enjoy a comprehensive package of core benefits including:
Health, dental and vision insurance
Vacation and sick leave maintained in separate balances
Employee assistance programs
Onsite fitness centers
Flexible work arrangements including telework opportunities and compressed weekly schedules
The Federal Reserve Board also offers benefits to aid in employees in their pursuit of financial security including:
Pension
Thrift Plan (similar to a 401K) with an employer of match of 7%
Life insurance
Flex spending accounts
Dependent care credit
Onsite credit union branches
There are also career development benefits such as professional development leave, a mentoring program, career training, and academic assistance ($12,200 per calendar year towards tuition, books, and fees).
We also offer employees a transit benefit and bicycle subsidy, backup child and elder care, domestic partner benefits, long term care insurance, and identity theft protections.