The Federal Reserve Bank of Minneapolis Graduate Intern Program is intended to introduce full-time or part-time graduate students to the broader Federal Reserve System and, more specifically, the Banking Supervision function. Being at the forefront of overseeing the nation’s largest and most complex financial institutions is a unique opportunity that requires highly analytical and quantitative individuals. Interns will gain exposure to and experience with the most important quantitative issues and challenges currently facing the regulatory and financial industries.
Interns will be placed in the System Analytics unit where they will work with staff to build work products such as dashboards and reports that process large amounts of banking and macroeconomic data and synthesize it into a succinct risk assessment.
The Intern Program provides an opportunity to work in an intellectually stimulating and collaborative environment, to engage in meaningful public service, and to interact with senior leaders at the Minneapolis Fed. Upon completion of their graduate degree, Interns will have a strong basis of experience to inform a future career in quantitative finance in the Banking sector.
Training and professional development components:
· Learn to manage, manipulate, interpret and analyze trends in large sets of data and methodology documents
· Handle and summarize large amounts of macroeconomic and banking data
· Become familiar with different metrics and measures that are used to evaluate the health of the Banking system
· Utilize knowledge to synthesize information and glean insights related to Banking conditions around the country
· Present technical issues to non-technical audiences and to clearly articulate findings in verbal and written form
Relevant course work towards a graduate degree in math- or quantitative-related fields such as Economics, Engineering, Mathematics, Computer Science, Quantitative Finance, Statistics, Data Science, Business Administration, etc.
Knowledge of Excel, including pivot tables.
Knowledge of query languages such as SQL.
Knowledge of statistical programming languages such as Matlab, Python, SAS, R or Stata is a plus, but not required.
Knowledge of display packages such as Tableau is a plus, but not required.
Strong academic record.
Ability to work independently without extensive oversight as well as the aptitude to collaboratively function within a team.
Ability to fulfill 500 hours of work under the Intern Program.
The Board of Governors of the Federal Reserve System mandates individuals authorized to access banking supervision and regulation Confidential Supervisory Information (CSI) must be “Protected Individuals”, which covers two categories of persons: U.S. citizens or lawful permanent residents and other non-citizens who apply for citizenship within six months of becoming eligible and, if offered a position, will sign a Declaration of Intent to become a United States Citizen. This position is authorized to access CSI and as such requires the incumbent to be a Protected Individual.