Summer Intern, Retail Payments

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.

Description

The Retail Payments section provides policy leadership, retail payments expertise, and oversight of relevant Reserve Bank operations in support of the Federal Reserve System's objective to promote the safety and efficiency of the payment system. Oversight and policy topics include product and pricing, strategy, resiliency, risk management, governance, information systems management, and how the services should evolve in the short- and long-run to improve the safety and efficiency of the U.S. payments system and to compete effectively, as required by the Monetary Control Act.

The Retail Payments section also studies and monitors developments in retail payments and contributes to the development and implementation of policy, regulations, and research related to existing and emerging retail payments topics. Topics include check, ACH, instant payments, debit and credit cards, cross-border payments, mobile payments, payment security, and payments fraud.

The intern will assist with policy analysis and projects related to payment, clearance, and settlement (PCS) activities. Potential projects may include researching and monitoring emerging retail payment issues and trends domestically and globally, analyzing potential risks related to Reserve Bank payment services, drafting public inquiry responses and other public facing documents, and other similar projects.

Competencies and Learning Objectives

• Critical thinking and policy analysis; leadership; organization; communication; learning agility.
• Suggested Major/Minor: Public Policy, Public Administration, Economics, International Relations
• Required Skills and Knowledge: MS Office
• Preferred Skills: Knowledge of financial markets and payment, clearing and settlement activities
• Required Documents for application: Resume, cover letter and unofficial transcript.
• This internship requires onsite presence.
• *US Citizenship is required for all Board internships and applicants must be current students, graduating from their program fall 2027 or later.
• *Location: This role is in Washington, DC. and the intern must reside in the area and work on-site during their internship.
• Keywords: payments, checks, ACH, debit cards, credit cards, FedNow, instant payments, fraud
• Learn more about our internship program: https://www.federalreserve.gov/careers-internships.htm

Job Type

Intern (Fixed Term)

Job Exempt

No

Relocation Provided

Yes

Compensation Grade(s)

FH Pay Grade 20

Pay

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.

Paperwork Reduction Act

OMB No. 7100-0181

Approval Expires October 31, 2029

Public reporting burden for this collection of information is estimated to average 0.26-0.71 hours per response, including the time to gather and maintain data in the required form and to review instructions and complete the information collection. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden to: Secretary, Board of Governors of the Federal Reserve System, Washington, DC 20551; and to the Office of Management and Budget, Paperwork Reduction Project (7100–0181), Washington, DC 20503.

The Federal Reserve may not conduct or sponsor, and an organization (or a person) is not required to respond to a collection of information unless it displays a currently valid OMB control number.