Federal Reserve System 2024 Undergraduate Summer Analyst - Audit Group in New York, New York
Federal Reserve Bank of New York
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.
Please note: Apply to all areas that you are interested in within the various tracks. For example, to apply to the entire policy track, you must submit applications for Markets, Research, and Supervision. This does not apply to Technology.
The Undergraduate Summer Analyst Program provides outstanding undergraduate students with the opportunity to gain valuable work experience at a unique institution. Advanced project work assignments and professional development activities, analysts are provided with an understanding of the work of the New York Fed.
Analysts 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, analysts attend weekly presentations and events hosted by People & Engagement’s Early Careers team. These presentations provide an overview of the Bank's responsibilities, 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 entry-level hiring.
What we do:
The Audit Group provides independent, objective internal audit services designed to add value and improve the Federal Reserve System's risk management, control, and governance processes, and support the achievement of its objectives.
What we are looking for :
The summer analyst opportunity in the Audit Group is open to candidates who have completed at least their sophomore year of college by the beginning of the internship You must have a demonstrated interest in banking, business, economics, public policy, risk management or finance with a strong academic record and passion for public service Knowledge of risk management principles.
Risk-focused perspective, with the ability to understand and review financial and/or information technology risks and controls within business processes.
Ability to execute audit procedures and testing for control compliance.
Good analytical skills, including ability to analyze business and financial activities, understand and describe process flows, strengths, and weaknesses, and develop suggestions to improve efficiency and effectiveness.
Ability to work cooperatively in a team environment and build collaborative relationships.
Excellent interpersonal and written communication skills are necessary.
Demonstrated working knowledge of Microsoft Office Suite with demonstrated ability to develop and apply spreadsheets, database and research tools and graphic presentation Must be graduating between Winter 2024 or Spring 2025
To Apply: Please include a resume and unofficial transcript. The application deadline is November 1st, 2023 (11:59 PM EST)* .
This is a paid internship. Please note, summer housing is not provided.
Your regular wages for the t en weeks will be paid on a semi-monthly basis and will be calculated based on an annual salary of $70,700.00 less applicable taxes.
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. (https://www.newyorkfed.org/careers/touchstone-behaviors)
In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.
Federal Reserve Bank of New York summer internships are 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, U.S. permanent residents who are not yet eligible to apply for naturalization and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so. Interns must remain in the United States for certain aspects of the pre-employment & background check process, which will start approximately 6 weeks (around mid-March) prior to the first day of the internship.
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, or military service.
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.
Full Time / Part Time
Regular / Temporary
Job Exempt (Yes / No)
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.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us:
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.