Summer Programs

The Sophomore Career Exploration Program, the Undergraduate Summer Analyst Program, and the Graduate Summer Associate Program provide outstanding students with the opportunity to gain valuable work experience in public service at a unique institution. Through project work assignments and professional development activities, students gain an extensive understanding of the New York Fed’s work. While sophomore interns receive an introduction to professional life, summer analysts and associates have the opportunity to enhance their business skills through critical financial analysis, formal presentations, research, and writing.

SOPHOMORE CAREER EXPLORATION PROGRAM

In addition to their daily responsibilities, sophomore interns will develop personal and professional skills to support their success in the workforce. Interns will experience a cohort-model of learning, while receiving a mentor pairing with a more experienced professional at the Bank. Sophomore interns will also have the opportunity to learn more about the Junior Summer Analyst program, which serves as a recruitment pipeline for the New York Fed’s entry-level hiring.

Interested students may apply to be considered for one of three tracks: Policy, Business, or Technology.

Policy

Includes the Supervision, Markets, and Research Groups. The Supervision Group supervises and regulates financial institutions in the Second District. The Markets Group consists of multiple business areas that fulfill a range of responsibilities, from planning and executing open mark operations, monitoring and analyzing financial market developments, to managing foreign customer accounts. The Research Group conducts long-term and short-term research and provides analytic support for the Bank’s responsibilities relating to monetary policy, banking supervision, payment systems, funding facilities, and other economic and financial issues.

Business

Includes the Corporate (Business Finance) Group and Statistics Function. The Corporate Group is dedicated to being a trusted, strategic business partner to clients Bankwide. The Group delivers a broad range of innovative, impactful solutions that foster the Bank's ability to meet its mission. The Corporate Group is aligned across its functions to provide superior services and value-added resource and financial management that seamlessly support our clients' and the Bank's objectives. The Statistics Function provides critical data capabilities in support of a safe and sound financial system. The Function manages the ingestion and quality assurance of financial and organizational data from domestic and foreign depository institutions, capital market participants, and bank holding companies.

Technology

Includes Solution Delivery, Service Management, Client Engagement, and Cybersecurity Functions. The Technology Group is responsible for strategic planning and provisioning of automations services to the Bank. They also provide national information security, incident response, national remote access, and enterprise search services for the Federal Reserve System.


The application is now open for the 2020 Sophomore Career Exploration Program. The deadline to apply is September 15.

APPLY NOW

Requirements

Requirements include but are not limited to:

  • Graduating in December 2021 or May 2022
  • Demonstrated interest in technology, statistics, finance, economics, or public policy
  • Relevant academic coursework (please highlight on resume)
  • Strong analytical, financial, and quantitative skills
  • Strong verbal and written communication skills
  • Minimum cumulative GPA of 3.0

UNDERGRADUATE AND GRADUATE SUMMER PROGRAMS

Undergraduate summer analysts and graduate summer associates are assigned to particular areas or functions, but have opportunities for collaboration with other analysts, associates and employees from around the New York Fed. In addition to their daily responsibilities, analysts and associates attend weekly presentations hosted by senior management on the New York Fed’s responsibilities and operations.

These summer programs allow participants to learn about career opportunities in public service at the New York Fed. The programs are a direct feeder for the Bank’s full-time analyst and associate rotational programs.

Undergraduate Summer Analyst Program

Applicants who have completed at least their sophomore year of college by the beginning of the internship are eligible. Specific requirements may be applied based on the New York Fed area or function.

Audit Group

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.

Legal – Compliance

The Compliance Function is responsible for identifying, monitoring and remediating legal, regulatory and reputational risks to the Bank by identifying compliance risk, handling Code of Conduct-related issues, and evaluating the compliance programs for the Bank’s business functions.

Markets: New York & Chicago Opportunities Open

The Markets Group at the Federal Reserve Bank of New York consists of multiple business areas that fulfill a range of responsibilities, from planning and executing open market operations, monitoring and analyzing financial market developments, to managing foreign customer accounts. Through its analytical and operational areas, the Markets Group:

  • Manages the size and composition of the Federal Reserve System's balance sheet consistent with the directives and the authorization of the Federal Open Market Committee (FOMC)
  • Monitors and analyzes financial market developments for key stakeholders and policymakers within the Federal Reserve System
  • Monitors and analyzes developments related to financial stability
  • Supports debt issuance and debt management on behalf of the U.S. Treasury
  • Provides foreign exchange services to the U.S. Treasury
  • Provides account services to foreign central banks, international agencies, and U.S. government agencies.
Research and Statistics Group

Research:
The Research Group at the Federal Reserve Bank of New York conducts long and short-term research and provides analytic support for the Bank’s responsibilities relating to monetary policy, banking supervision, payments systems, funding facilities and other economic and financial issues.

Statistics:
The Statistics Function Collects, reviews and analyzes regulatory, deposit, credit, security, organizational structure and cross border data submitted from domestic and foreign depository institutions, capital market participants, and bank holding companies.

Risk Group

The Risk Group provides independent risk oversight, assesses the Bank's financial and operational risks, and oversees policy development related to systemically important payment, clearing and settlement activity.

Supervision Group

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 assess 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.

Technology Group

The Technology Group (TG) is responsible for the strategic planning and provisioning of automation services to the Bank. These include application development, data architecture, network, communications and data center infrastructure and operations, project management, technology vendor management, and overall information technology and information security. The Group also provides national information security, incident response, national remote access and enterprise search services for the Federal Reserve System.


Graduate Summer Associate Program

Applicants who have completed their 1st year of graduate studies by the beginning of the internship are eligible. Specific requirements may be applied based on the New York Fed area or function.

Corporate Group

The Business Continuity Office manages the Bank's business continuity program and framework to ensure robust business continuity planning, awareness, and readiness across all business lines.

Executive Office

The Strategic Planning Office (SPO) is comprised of the Strategic Planning & Evaluation, Financial Planning & Analysis, as well as an internal consulting and central project management offices to support implementation of Bank-wide initiatives. The SPO has designed a planning, resourcing and evaluation process to enable clear articulation of the Bank’s strategic priorities; alignment, integration and rationalization of its resource allocation; and support for and evaluation of performance against strategic and resource plans.

Markets: New York & Chicago Opportunities Open

The Markets Group at the Federal Reserve Bank of New York consists of multiple business areas that fulfill a range of responsibilities, from planning and executing open market operations, monitoring and analyzing financial market developments, to managing foreign customer accounts. Through its analytical and operational areas, the Markets Group:

  • Manages the size and composition of the Federal Reserve System's balance sheet consistent with the directives and the authorization of the Federal Open Market Committee (FOMC)
  • Monitors and analyzes financial market developments for key stakeholders and policymakers within the Federal Reserve System
  • Monitors and analyzes developments related to financial stability
  • Supports debt issuance and debt management on behalf of the U.S. Treasury
  • Provides foreign exchange services to the U.S. Treasury
  • Provides account services to foreign central banks, international agencies, and U.S. government agencies.
Data and Statistics

The Data Capabilities Office (DCO) is responsible for driving the Bank's strategy on data, elevating the capacity for connecting and synthesizing the increasing number and scale of disparate and complex informational sources, and creating insightful analysis and policy work. It provides internal consulting services on data analytics and data science.

Supervision Group

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 assess 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.


Apply now for the 2020 Sophomore Career Exploration Program.
Deadline is September 15, 2019.

APPLY NOW

Requirements

Requirements include but are not limited to:


  • Graduating in December 2019 or May 2020
  • Demonstrated interest in banking, finance, economics and public policy
  • Relevant academic coursework (specialized skills and/or work experience may be required for certain areas)
  • Excellent analytical, financial, and quantitative skills
  • Strong verbal and written communication skills

* Our highly competitive summer programs begin in early June