Federal Reserve Bank of New York
At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed.
The Graduate Summer Associate Program provides outstanding graduate students with the opportunity to gain valuable work experience with a unique institution. Through advanced project work assignments and professional development activities, 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.
Associates are assigned to a particular area or function for the summer, but they will also have opportunities for collaboration with other analysts/associates and with employees from around the Bank. In addition to their daily responsibilities, associates attend weekly presentations hosted by senior management. These presentations provide an extensive overview of the Bank’s responsibilities and operations and offer a unique opportunity to learn about full-time career opportunities upon graduation. The summer program is the largest recruitment source for the New York Fed’s full-time campus hiring.
What we do:
The Supervision Group at the Federal Reserve Bank of New York supervises and regulates financial institutions in the Second District. The Group’s mission is to ensure a safe, sound, and accessible financial system. Staff in the Group assesses the safety and soundness of domestic banking institutions, operations of foreign banking organizations, and systemically important banks and nonbanks including financial market utilities in the District. These efforts are achieved through onsite assessments and offsite analysis and surveillance. The Group also analyzes issues and developments to identify emerging supervisory risks, develop cross-firm perspectives and develop domestic and international supervisory policy.
The Supervision Summer Associate Program is open to applicants who have completed their first year of graduate study. Applicants must have a demonstrated interest in banking, economics, public policy, international relations, or finance, a strong academic record, and a passion for public service. Additional requirements include:
- Understanding and interest in risk management, finance industry practices, financial institutions governance and controls, capital markets, and financial statements.
- Strong analytical and critical thinking skills demonstrated by the ability to assimilate new information, make sound decisions, and manage multiple tasks; knowledge of financial institutions and markets a plus
- Demonstrated proficiency in quantitative and qualitative analysis including financial statements analysis
- Proven experience as a team player with the ability to build collaborative relationships
- Proficiency in MS Office Suite
- Strong written, verbal and presentation skills
- The ability to take initiative and ownership of an assignment and produce results under tight time constraints
- Strong prioritizing, planning and organization skills
- Industry certification a plus (e.g., CFA, CPA, CIA, FRM)
This position will offer workplace flexibility e.g. working remotely or on site as needed/ desired during the week. Employees can expect to be in the office weekly as needed for meetings and team collaboration and should live within a commutable distance. The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person a couple days a week.
Incumbent must be fully vaccinated against COVID-19, unless the Bank grants an exemption based on a medical condition or sincerely held religious belief.
Why the Fed:
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’ll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It’s a challenge that demands the skills of a financial services professional and the intellectual curiosity of an academic—all combined with a passion for public service, as exemplified by our four core values:
Community- There are two facets to community here at the Bank: how we relate and connect with each other internally through our Resource Networks, and how we serve the Second District through our outreach initiatives
Career– The Bank is committed to leading and developing its people, providing career management and mobility opportunities that allows employees to realize their full potential.
Culture – The Bank’s culture is critical to the success of our mission. We offer a welcoming environment where teamwork is key; everyone’s views are respected. The Bank is committed to supporting work-life balance so employees can pursue a challenging career without giving up their passions outside of work.
Core Mission- Our work matters. We are part of a unique public service organization that plays a vital role in the word’s economic stage. We take pride in our role and the honest, integrity and respect we employ in all our interactions.
The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank’s diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching Out MBA. Click here to learn more.