Summer Intern, Financial Management Group

Location: Federal Reserve Board

Always verify and apply to jobs on the official Federal Reserve Board career site or through verified Federal Reserve Board social media channels.

Minimum Education

Enrolled in an undergraduate or graduate degree program at an accredited university and returning to continue studies after the internship.

Minimum Experience

0

Summary

The Federal Reserve Board (Board) provides students opportunities for career success. The Board’s Internship program is designed to provide valuable work experience for undergraduate and graduate students considering careers including, but not limited to, economics, finance and accounting, information systems, and data analysis. The Board believes that by combining academic endeavors with project-related work experience, qualified and capable college students can gain the practical knowledge need in a competitive global job market.

Internships are paid positions with salaries commensurate with credit hours; internships may be in-person, remote or hybrid, depending on the needs of the team. Employment in the Board’s internship program is granted to U.S. citizens. Applicants must be currently enrolled in an undergraduate or graduate degree program at an accredited university and returning to continue studies after the internship. Interns receive a syllabus or research project plan outlining their projects and goals for the internship.

Interns are assigned a supervisor or mentor to guide them through their internship, and regular check-in meetings with their manager to manage performance expectations and assist with learning goals. Interns have access to a wide range of training programs and events for professional development purposes.

Qualifications

The Financial Management Group (FMG) is responsible for overseeing the Reserve Banks’ financial management operations which includes accounting, procurement, as well as monitoring Reserve Bank annual budget performance and coordinating the combined annual financial reporting process for the Federal Reserve System.

The FMG intern position will support the three FMG sections Financial Management Oversight & Systems (FMOS), Spend & Resource Management (SRM), and Financial Accounting Policy & Reporting (FAPR) through ongoing administrative tasks and periodic projects on key priorities. The selected candidate will support Reserve Bank financial management oversight including accounting policy, cost accounting, budgeting, financial reporting, financial systems, and procurement operations.

Primary responsibilities will be to support daily operational activities of the group as necessary and participate on various special projects. The special projects may include analysis and documentation of Accounting Standards Updates, assistance with the Financial Accounting Manual updates, and activities related to off-site monitoring of the Reserve Banks.

Competencies/Learning Objectives: Through financial analysis, decision making, effective communication, and learning agility the FMG intern will have the opportunity to:

Become familiar with Federal Reserve Accounting Policy,

Research current accounting guidance and its potential impact on the Federal Reserve Banks,

Gain an understanding of the Reserve Bank oversight and risk assessment process,

Gain insight into the financial reporting process of the Federal Reserve Banks,

and

Gain insight into the cost accounting practices of the Federal Reserve Banks.

Gain insight into the financial systems that support Federal Reserve financial management operations.

Gain insight into the procurement practices of the Federal Reserve Banks.

While completing these learning objectives, a student will gain experience researching accounting guidance while learning more about the financial reporting, budgeting, cost accounting, and procurement processes within the Federal Reserve System to determine if a career in accounting, finance, or business management would be of potential interest upon graduation.

Suggested Major/Minor: Accounting, Finance, Business Management, Business Administration, Economics, Information Technology, Information Sciences & Technology, Data Analytics, Operations Management or a related field.

Required Skills and Knowledge: MS Office

Preferred Skills: Strong written and communication skills

Required Documents: Resume, cover letter and unofficial transcript.

US Citizenship is required. Applicants must be current students, graduating from their program August 2027 or later. Proof of enrollment will be required.

Location: This role is in Washington, DC. and the intern must reside in the area and work on-site during their internship

Keywords: #accounting, #finance, #business management, #financial analysis, #data analysis

Learn more about our internship program: https://www.federalreserve.gov/careers-internships.htm

Job Type

Intern (Fixed Term)

Job Exempt

Relocation Provided

No

Compensation Grade(s)

FH Pay Grade 20

Pay

$26.68 - 28.37

Rehabilitation Act

The Board complies with the Rehabilitation Act of 1973, as amended, and provides job applicants with disabilities reasonable accommodations to assist them in applying for jobs at the Board. If you have a disability and would like to request an accommodation in order to apply for a job at the Board, please call 202-452-3880 or e-mail [email protected].

Equal Opportunity Employer

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, genetic information, or application, membership, or service in the uniformed services.

Privacy

You may review the Federal Reserve Board's Privacy Act Notice at https://www.federalreserve.gov/careers/files/fr1273.pdf.

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