2024 Graduate Summer Associate - Supervision Group

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

New York, NY, USA
Posted on Wednesday, August 30, 2023


Federal Reserve Bank of New YorkWorking 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.

Program Description:

The Graduate Summer Associate Program provides outstanding graduate students with the opportunity to gain valuable work experience with a unique institution. Through advanced project work assignments and professional development activities, Associates are provided with an extensive understanding of the work of the New York Fed. Summer Associates will be given the opportunity to enhance their business skills through critical financial analysis, formal presentations, research and writing.

Associates are assigned to a particular business area for the summer, but they will also have opportunities for collaboration with other summer Associates and Analysts and with employees from around the Bank. In addition to their daily responsibilities, Associates attend weekly presentations hosted by senior management. These presentations provide an extensive overview of the Bank's responsibilities and operations, and offer a unique opportunity to learn about full-time career opportunities upon graduation. The Bank’s Summer Associate Program is the primary recruiting event for the New York Fed's full time campus hiring.

What we do:

  • The Supervision Group is responsible for evaluating and promoting the overall safety and soundness of supervised institutions. Activities include setting and analyzing supervision policy, conducting on-site and off-site examinations and inspections, continuously supervising specific institutions, reviewing merger and acquisition applications and other expansionary proposals, and coordinating with other supervisory agencies and official sector organizations.

  • Staff in the Group are responsible for supervising one firm, a portfolio of firms, or supervising state member banks for compliance with consumer- and community-oriented laws. Activities include examining and monitoring supervised firm’s or firms’ business strategies and associated risks; financial condition, and compliance with laws and regulations; reviewing and acting on regulatory applications filed by firms to engage in mergers, acquisitions and other expansionary proposals and engaging with supervised firm’s or firms’ Boards of Directors and senior management; and coordinating supervisory activities with those of other federal and state authorities.

What we are looking for:

  • The Supervision Summer Associate Program is open to graduate students graduating Winter 2024 or Spring 2025. As a summer associate in the Supervision Group, you must have a demonstrated interest in economics, public policy, finance, and strong academic record. Additional requirements include:

  • General understanding and interest in risk management, finance industry practices, financial institutions governance and controls, capital markets, and financial statements. Interpersonal and collaboration skills, including the willingness to foster working relationships with a range of stakeholders across Supervision departments

  • Written and verbal communication skills with the ability to synthesize information and explain it

  • Organized and resourceful, with the ability to work as part of a team and independently

  • Ability to assimilate new information and learn new tools/systems

  • Proficiency in MS Office Suite; statistical software tools experience a plus (e.g., Macros, VBA, SQL, Stata).

To Apply: Please include a cover letter, 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.

Salary Range:

Your regular wages for the ten weeks will be paid on a semi-monthly basis and will be calculated based on an annual salary of $93,000.00, 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.

Please note that the position requires access to confidential supervisory information and/or FOMC information, which is 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, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.

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.

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

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category


Work Shift

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.

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