2025 Summer Program - Risk - Sophomore at Federal Reserve Bank (FRB) in New York, New York

Job Description:

Company

Federal Reserve Bank of New York

The Sophomore Career Exploration Internship gives you the opportunity to gain valuable work experience at a unique institution. Through project-based work and professional development activities, you’ll get both an introduction to professional life and an understanding of the New York Fed’s consequential and dynamic work.  In addition to your daily responsibilities, you’ll gain personal and professional skills to help you prepare for the next steps in your education and career journeys. You’ll be part of a collaborative and inclusive cohort and be paired with a mentor who’s excited to support you. During your internship, you’ll also learn more about our Junior Summer Analyst program, which serves as a recruitment pipeline for the New York Fed’s entry-level hiring.

Working 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. 

What we do:   

The Risk Group's Mission is to help the Bank achieve its strategic objectives through value-added independent and integrated risk assessments, independent risk oversight, and by providing advice, insight, and tools that enhance resilience and improve business outcomes. 

The candidate will either be assigned to the Risk Response & Resiliency team or the Risk Advisory and Support based on skillset and business need.”The Risk Response & Resiliency function prepares the Bank to anticipate, withstand, recover, and adapt to disruptions.

Your role as Risk Summer Analyst  

Contribute to the execution of the following risk management activities

• Collect and analyze data and information to measure, monitor, and evaluate risk management practices and metrics




• Collaborate with risk management professional to analyze controls, dependencies and handoffs of critical processes.




• Support program management and business analysis-related risk management activities




• Generate reports, prepare inventories, plans, assessments, analyses, and another analytic and guidance documents to drive effective risk management practices using tools such as MS Excel, MS PowerPoint, MS SharePoint, and possibly Tableau (even if not proficient in Tableau, willingness to learn)




• Update program status reports and communications across FRBNY and FRS

What we are looking for:  

• Expected graduation between Winter 2026 and Spring 2027




• Ability to develop and maintain spreadsheets, databases, and graphic presentations




• Some knowledge and quantitative interest in risk management principles helpful.




• Analyze business activities, understand, and describe process flows, strengths and weaknesses, and develop suggestions to improve efficiency and effectiveness




• Willingness to learn new skills and tools and ability to collaborate

  To Apply: Please include a resume and unofficial transcript.

Applications for our 2025 Sophomore program close on October 4th, 2024 at 11:59pm EST*. For a full breakdown of the recruitment timeline, visit our website. This is a paid internship. Please note, summer housing is not provided.

Salary Range: Your regular wages for the 8 weeks will be paid on a semi-monthly basis and will be calculated based on an annual salary of $65,600, less applicable taxes. We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.  

  

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.  

  

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.  

  

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service.  

  

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.   

  

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.  

 

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.     

 

Full Time / Part Time

Full time

Regular / Temporary

Temporary

Job Exempt (Yes / No)

No

Job Category

Internship

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.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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