2024 Audit Summer Internship

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Multiple locations
Posted on Monday, September 18, 2023


Federal Reserve Bank of San FranciscoWe are the San Francisco Fed, public servants with a congressionally mandated mission to promote a sound and stable economy to support the lives of all Americans. We are a community-engaged bank, and we are committed to understanding and serving the vibrant, diverse people of the Twelfth District. That means we seek and appreciate new perspectives. We respect people for what they do and for who they are. We build opportunities to learn and grow. When you join the SF Fed, you become part of a team united in its purpose to promote an economy that works for everyone. We empower our people to balance their life and work responsibilities. That’s why we offer a flexible hybrid work model that allows you to collaborate with office colleagues on some days, and work from home on others.

As the largest District by geography and size of economy, the importance our success cannot be understated. The Internal Audit group reports to the Audit and Risk Management Committee of the San Francisco Board of Directors. This promotes our independence and comprehensive audit coverage within the Bank, access to all Bank activities, information, records, property, and employees relevant to our audit work, and ensures adequate resources and appropriate consideration and awareness of audit recommendations. We do our work in partnership with leaders across the Bank by building our relationships and reputation with each and every interaction.

We have a fantastic opportunity to join our Internal Audit department as a Summer Intern. Our ideal candidate has a long-term interest in an internal audit career and wants to plant roots in an organization that will support that goal with education, mentorship, and career pathing. You are a highly conscientious, analytical, data driven individual who also completely understands the importance of relationship building and communication.

As part of this internship you will have the opportunity to:

  • Participate in walkthroughs and learn how to flowchart processes, identify key controls, create, and execute thorough testing methods to evaluate the adequacy of internal controls.

  • Assist with identifying control improvement needs and engage in recommending management remediation actions.

  • Learn how to prepare clear, concise, and persuasive work paper documentation in line with the Institute of Internal Auditors (IIA) International Standards.

  • Assist in performing certain follow-up activity related tasks on issues reported by Audit and external parties.

  • Participate in ‘Audit Liaison’ meetings. This will allow you to meet one or more business leaders in our district and develop a broader business perspective of Federal Reserve System functions and services.

Minimum qualifications:

  • Bachelor’s or Master’s degree in Business Administration, Risk Management, Computer Science Finance, Accounting, or a related field.

  • Analytical mindset, ability to build both formal and informal networks, ability to identify opportunities for continuous improvement.

  • Anticipate, identify, and define problems, seek root causes, and develop practical and timely solutions.

  • Systematic approach to work and follow defined work processes.

  • Effective written and verbal communication skills which will build the foundation to learn how to prepare clear, persuasive audit work papers, and communicate audit results including observations.

  • Understanding of project management principles, theories, and practices.

  • Understand basic principles of risk management, ability to identify risks, and follow established risk monitoring procedures.

  • Demonstrate attention to detail and accuracy and take responsibility for timely completion of tasks.

  • Proficient in the use of Microsoft Word, Excel, PowerPoint, and Visio.

  • We ask that you live in commutable distance to our downtown San Francisco headquarters (Embarcadero) and be willing to be in office, two to three days per week on average. Travel is generally not required for this role except for training, attendance of workgroups, or other non-routine assignments.

  • Must be a US Citizen or Green Card holder with the intent to become a US Citizen.

Preferred Skills/Experience:

  • Knowledge of computer-assisted data analytics software.

Hourly Range: Min: $22.00 - Mid: $26.00- Max: $34.00 (Location: San Francisco)

Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with market data.

Full Time / Part Time

Part 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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