2025 Summer Program- Graduate- Supervision - Federal Reserve Bank (FRB)

Company

Federal Reserve Bank of New York

The Graduate Summer Associate Program provides you with the opportunity to gain valuable work experience at a unique institution. Through advanced project-based work and professional development activities, you’ll get an extensive understanding of the New York Fed’s consequential and dynamic work. You’ll also be given the opportunity to enhance your business skills through critical financial analysis, formal presentations, research and writing—all designed to prepare you for what’s next in your education and career journey. As an associate, you’ll be assigned to a particular business area while also having opportunities to collaborate with other associates, other analysts, and employees from around the Bank. In addition to your daily responsibilities, you’ll attend weekly presentations hosted by New York Fed leaders. These presentations aim to provide an extensive overview of the Bank's responsibilities and operations and offer a unique opportunity to learn about full-time career opportunities, as our summer program is the primary recruitment source for the New York Fed's fulltime campus hiring.  

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.  
 
The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance. 

What we do:   

The Supervision Group supervises and regulates financial institutions in the Second District of the Federal Reserve System. We apply our unique insight to influence and execute Federal Reserve System supervision in order to promote a safe, sound, and stable banking and financial system. Staff in the Group assess the safety and soundness of domestic banking institutions and operations of foreign banking organizations in the district through periodic onsite evaluations and offsite financial analysis and surveillance. The Group also analyzes issues and developments to identify emerging supervisory risks and develop domestic and international supervisory policy.

The Supervision Group is comprised of the following functions: Consumer Compliance; Large & Foreign Banking Organizations; Supervisory Policy & Strategy; Large Institution Supervision Coordinating Committee (LISCC) Programs; Regional, Community and Foreign Institutions & Financial Market Infrastructure.

Program Description: 

The Graduate Summer Associate Program provides outstanding graduate students with the opportunity to gain valuable work experience with a unique institution. Through advanced work assignments and professional development activities, Summer Associates are provided with an extensive understanding of the work of the New York Fed.  Summer Associates will be given the opportunity to enhance their business skills through critical financial analysis, formal presentations, research, and writing. Summer Associates are assigned to a particular business area for the summer, and they will also have opportunities for collaboration with other Summer Associates, Summer Analysts and full-time employees. In addition to their daily responsibilities, Summer Associates attend weekly presentations hosted by senior management. These presentations provide an extensive overview of the New York Fed’s responsibilities and operations and offer a unique opportunity to learn about full-time career opportunities upon graduation. The Summer Associate Program is the primary recruiting event for the New York Fed's full-time campus hiring.

What we are looking for:  

The Supervision Group’s Summer Associate Program is open to graduate students who will complete their studies and graduate in Winter 2025 or Spring 2026 with demonstrated and applicable full-time work experience. As a Summer Associate, you must have a demonstrated interest in economics, public policy, and/or finance and a strong academic record.  

Additional requirements include:

• Strong written and verbal communication skills with the ability to synthesize information and explain it

• Organized and resourceful, with the ability to work as part of a team and independently

•  Ability to assimilate new information and learn new tools/systems

• Curiosity and critical thinking skills

• Proficiency in MS Office Suite; statistical software tools experience a plus (e.g., Macros, VBA, SQL, Stata).

• Proficiency in data visualization

 To Apply:Please include a resume, cover letter and unofficial transcript.

Applications for our 2025 Graduate program close on October 11th, 2024 at 11:59pm EST*. For a full breakdown of the recruitment timeline, visit our website. This is a paid internship. Please note, summer housing is not provided.

Salary Range: Your regular wages for the 10 weeks will be paid on a semi-monthly basis and will be calculated based on an annual salary of $94,900, less applicable taxes.We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.  

  

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.  

  

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.  

  

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service.  

  

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.organd we’ll be glad to help.Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.   

  

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.  

  

 This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.  

Full Time / Part Time

Full time

Regular / Temporary

Temporary

Job Exempt (Yes / No)

Yes

Job Category

Internship

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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