Job Description
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.
Position Requirements Qualifications: The Financial Management Group (FMG) is responsible for overseeing the Reserve Banks' financial management operations which includes accounting, procurement, as well as monitoring Reserve Bank annual budget performance and coordinating the combined annual financial reporting process for the Federal Reserve System.
The FMG intern position will support the three FMG sections Financial Management Oversight & Systems (FMOS), Spend & Resource Management (SRM), and Financial Accounting Policy & Reporting (FAP&R) through ongoing administrative tasks and periodic projects on key priorities. The selected candidate will support Reserve Bank financial management oversight including accounting policy, cost accounting, budgeting, financial reporting, financial systems, and procurement operations. Primary responsibilities will be to support daily operational activities of the group as necessary and participate on various special projects. The special projects may include analysis and documentation of Accounting Standards Updates (ASUs), assistance with the Financial Accounting Manual (FAM) updates, and activities related to off-site monitoring of the Reserve Banks.
Competencies/Learning Objectives: Through financial analysis, decision making, effective communication, and learning agility the FMG intern will have the opportunity to:
- Become familiar with Federal Reserve Accounting Policy,
- Research current accounting guidance and its potential impact on the Federal Reserve Banks,
- Gain an understanding of the Reserve Bank oversight and risk assessment process,
- Gain insight into the financial reporting process of the Federal Reserve Banks,
- Gain insight into the cost accounting practices of the Federal Reserve Banks.
- Gain insight into the financial systems that support Federal Reserve financial management operations.
- Gain insight into the procurement practices of the Federal Reserve Banks.
While completing these learning objectives, a student will gain experience researching accounting guidance while learning more about the financial reporting, budgeting, cost accounting, and procurement processes within the Federal Reserve System to determine if a career in accounting, finance, or business management would be of potential interest upon graduation.
Suggested Major/Minor: Accounting, Finance, Business Management, Business Administration, Economics, Information Technology, Information Sciences & Technology, Data Analytics, Operations Management or a related field.
Required Skills and Knowledge : MS Office
Keywords: #accounting, #finance, #business management, #financial analysis, #data analysis
Preferred Skills: Strong written and communication skills
Required Documents: Resume, cover letter and unofficial transcript
Notes: - US Citizenship is required for all Board internships and applicants must be current students, graduating from their program August 2026 or later. Proof of enrollment will be required.
- This internship must be completed in-person in Washington, DC.
- Candidates must be able to work at a minimum of 20 hours per week during the school year, 40 hours per week during the summer
- This internship duration shall not exceed 180 days from a candidate's start date.
Learn more about our internship program:
Job Tags
Work experience placement, Summer work, Summer internship,