Reserves, Credit, and Applications Intern (Finance)

Company

Federal Reserve Bank of Boston

This position is part of the Bank's Internship/ Co-op Program which is offered to students who are currently enrolled in graduate and undergraduate studies. This Program identifies talented and qualified candidates who could potentially fill professional job openings in the Bank.

This internship will be an onsite role.

Job Summary:

This internship is in the Reserves, Credit Risk Management and Applications function of the Supervision, Regulation, and Credit department. The Reserves, Credit Risk Management and Applications (RCA) unit is organized under the Supervision, Regulation, and Credit (SRC) Department and contributes to FRBB's mission to promote sound growth and financial stability in New England by integrating Discount Window, counterparty credit risk, reserves, payment system risk, and regulatory applications work in a single unit. The RCA unit is seeking candidates interested in an opportunity to gain exposure to promoting financial stability through areas including credit risk management, operations and policy. This position is responsible for assisting with these functions through various analytical assignments intended to assist in supporting a range of work streams. This position may also be responsible for assisting the applications team that analyzes, and processes banking applications filed under relevant laws and regulations.   
 

Principal Accountabilities:

The successful candidate will work on projects related to workstreams across the four unit teams: Policy, Counterparty Credit Risk, Lending and Reserves and Applications.  All the teams require data synthesis, analysis and presentation on both a business as usual (BAU) as well as ad-hoc basis to support credit risk decision making, financial analysis, improving BAU reporting (including senior management committee reporting) and ad-hoc informational requests. In addition, the candidate should be able to perform other duties as assigned related to supporting the RCA unit, including providing administrative support, performing quality reviews and projects related to records management in accordance with Federal Reserve guidance. 
 

The successful candidate is expected to have:

• Undergraduate or graduate student in business, finance, law, economics, or related field
• Strong experience with Excel, PowerPoint, Word, Acrobat
• Proficiency in Tableau, SQL, Python, R not required but beneficial
• Experience and skills related to fundamental financial analysis
• Strong attention to detail
• Strong communication skills
• Ability to work in a deadline driven environment
• Ability to multi-task on several ongoing projects
• Comfort level with learning new technology as utilizing internal applications will also be required
   

As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.

This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. 

For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks. 

The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position.  Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.  
 

All applicants must have been a US Citizen or a permanent resident who also resided in the United States for at least three (3) years.
 

All employees assigned to this position 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. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.
 

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills 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 job description at its discretion at any time.

Full Time / Part Time

Full time

Regular / Temporary

Temporary

Job Exempt (Yes / No)

No

Job Category

Internship Family Group

Work Shift

First (United States of America)

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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