The application process for the 2020 Summer Law Clerk Program is now open. First-year law students may submit applications from December 1, 2019 to February 28, 2020 by clicking on the application link below.
The Legal Function of the New York Fed hires first-year law students each summer for a 10-week paid clerkship program. Law clerks receive challenging, diverse assignments from each of the three divisions of the Legal Function. The assignments usually involve legal research and writing, and are typical of the assignments given to attorneys in the Legal Function. Law clerks are paired with mentors for the summer to provide guidance on a personal and professional basis. Several cultural and social activities are planned for the law clerks and other members of the Function. Law clerks are paid approximately $7,000 monthly over the course of the 10-week program.
Working at the New York Fed 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. Working here provides talented students 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.
The Legal Function's mission is to provide high-quality legal services to the New York Fed. The function is headed by the Bank's general counsel and is divided into three divisions, each headed by a deputy general counsel:
The Bank Supervision and Markets Division (BSM) provides legal advice in connection with (i) financial institution supervisory and regulatory matters, including legal support for supervision and regulatory reporting and legal analysis of regulatory applications; (ii) the Bank’s open market, U.S. Treasury auction, foreign exchange, reference rate and discount window operations; and (iii) the Bank’s external and sponsored committees. BSM also tracks legislative affairs for the Bank, and the head of the division oversees the Bank Applications Function.
The Enforcement, Litigation, Police, Investigations and Corporate Affairs Division (ELPICA) handles all litigation for the Bank and pursues regulatory enforcement investigations and actions against financial institutions in the Second Federal Reserve District. In addition, ELPICA conducts investigations of internal Bank matters and advises with respect to the Bank's corporate affairs, including human resources and employment law matters. The head of the division also oversees the Bank's police arm, the Law Enforcement Unit.
The Financial Services, Technology, and Contracts Division (FSTC) provides legal support for the areas of the Bank that are responsible for financial services, including the Fedwire services, international and domestic currency and coin distribution, and account services for the U.S. Treasury, foreign central banks and international organizations, depository institutions, and other account-holders. FSTC also advises with respect to contract, procurement, and technology matters for the Bank, including software licenses and cloud computing.
First-Year Law Students:
The Summer Law Clerk Program requires that applicants complete their first year of law school by the beginning of the clerkship, which is typically in late May. As the program is highly competitive and the class size is limited, we seek applicants with outstanding academic records, evidence of strong research and writing skills, an interest in and commitment to public sector employment, maturity, and personal achievement. Applicants must generally be available for in-Bank interviews during January, February, and March of 2020, although certain limited exceptions can be made for remote interviews via Skype or videoconference.
Candidates are requested to supply a cover letter, résumé, and transcript. Undergraduate transcripts are acceptable if first-semester law school grades are not yet available. Applications will be accepted from December 1, 2019 to February 28, 2020, and positions will be filled on a rolling basis starting in January. To apply, please click on the link below:
Second-Year and Third-Year Law Students:
The Legal Function does not currently hire second-year law school students for summer positions or hire third-year law school students for attorney positions. Accordingly, we are unable to accept résumés from second or third-year students.
Positions in the Legal Function for experienced attorneys become available from time to time. These positions are posted separately, so please submit applications for such positions directly to the appropriate listing.
For any questions regarding the Summer Law Clerk Program, please contact Jeffrey Keenan at firstname.lastname@example.org.