Job Overview

Area Overview

Graduate Summer Analyst Program
New York, N.Y.
June through mid August

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

Analysts are assigned to one particular function for the summer, but they will also have opportunities for collaboration with other analysts and with employees from around the Bank. Summer assignments are typically available in Bank Supervision, Emerging Markets & International Affairs, Communications, Markets, and Financial Services, but other groups also participate.

In addition to their daily responsibilities, analysts attend weekly presentations hosted by senior management, including the President and First Vice President. 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 summer program is the largest recruitment source for full time campus hiring.

Job Responsibilities

Opportunities in the summer program include but are not limited to:

Bank Supervision: The Bank Supervision Group supervises the activities of Second District bank holding companies, their non-bank subsidiaries, state-chartered banks, and state-licensed branches/agencies of foreign banks. The mission of the Group is to promote a sound financial system through expert knowledge of the institutions we supervise, early identification of emerging trends and risks, and the development of forward looking policies and practices, while minimizing regulatory burden.

Markets: The Markets Group comprises many business areas that fulfill a range of responsibilities, from planning and executing open market operations to managing foreign customer accounts.
Through its analytical and operational areas, the Markets Group:
 Implements the monetary policy directives of the Federal Open Market Committee (FOMC) through the purchase and sale of U.S. Treasury Securities for the System Open Market Account.
 Manages the size and composition of the Federal Reserve System's balance sheet consistent with the directives and the authorization of the FOMC.
 Supports debt issuance and debt management on behalf of the U.S. Treasury.
 Provides foreign exchange services to the U.S. Treasury.
 Provides account services to foreign central banks, international agencies, and U.S. government agencies.
Emerging Markets & International Affairs: The Emerging Markets & International Affairs Group supports two of the Bank’s key objectives: fostering international financial stability and expanding international relationships. The Group’s mission is to evaluate information about financial, economic and political developments in newly industrialized and emerging economies, and coordinate and lead Bank relations and activities with emerging economies.
Financial Services: The Financial Services Group (FSG) operates and oversees payments system processing for the Bank. The FSG provides depository institutions with various payment services - including electronically transferring funds and distributing and receiving currency and coin - as part of its central banking mission to ensure an efficient, effective and accessible payments system. Its goal is to be the most trusted and respected provider of financial services in the world.

Audit: The mission of the Audit Function is to assist the Audit Committee of the Bank’s Board of Directors in the effective discharge of its fiduciary responsibilities. The Function conducts its activities in accordance with the professional standards of the Institute of Internal Auditors. Auditing activities reflect the uniqueness of the Federal Reserve Bank of New York and focus on protecting the Bank’s reputation and assets through efficient assessment of its internal control structure, using the COSO framework, as well as its risk management and governance processes.

Job Requirements

REQUIREMENTS
The Summer Analyst Program requires that applicants complete their first year of graduate study. The program is extremely competitive and size is limited. Applicants must have a demonstrated interest in banking, economics, public policy, or finance, a strong academic record, and a passion for public service. Excellent interpersonal and written communication skills are essential. Applicants must be available for in-bank interviews. Please note: Summer housing cannot be provided.

The Federal Reserve Bank of New York values and is committed to a diverse workforce.

Candidates must be eligible to work in the United States on a multi-year basis for other than practical training purposes (authorization under a student visa to engage in practical training does not satisfy this requirement).