Apply while you can!! This opportunity closes on 11/30 at 11:59 PM, Eastern Standard Time (EST).
Safeguard America’s Economic Future as a Financial Management Scholar
The mission of the FDIC is to maintain stability and public confidence in the nation’s financial system. The FDIC supervises a vast majority of the country’s community banks –the institutions that provide loans to farmers and small businesses, make it possible for entrepreneurs to launch start-ups, support local governments as they build libraries and parks, and help people buy homes. These essential functions are the very things that help keep America running.
When you join the agency as a Financial Management Scholar, you will get a unique, firsthand look at how the FDIC accomplishes its mission by ensuring that banks are following safe and sound banking practices, managing their institutions effectively, and complying with consumer protection laws and regulations.
If you are a college junior majoring in accounting, banking, commercial or banking law, economics, business administration, marketing, finance, or other fields, consider applying for the FDIC’s Financial Management Scholars Program (FMSP). Selected applicants will be placed with FDIC’s Division of Risk Management Supervision, and will work in teams with experienced FDIC employees to gain hands-on experience evaluating bank operations, business planning, and risk management strategies. These teams are responsible for assessing financial institutions to determine whether they are following safe and sound banking practices, maintaining effective internal controls and procedures, managing their institutions effectively, and complying with all applicable laws and regulations.
Under the direction and supervision of an Examiner or Assistant examiner of higher grade, FMS will also:
· Consolidate Reports of Conditions and Income.
· Review accounts for overdrafts, prepaid expenses, and other miscellaneous assets.
· Assist in assessing the adequacy of related insurance coverage.
· Review adequacy of fidelity and other indemnity protection.
· Assist in evaluating the adequacy of the insured depository institution procedures and internal routine controls.
· Assist in the preparation of information requisite to a thorough analysis of the earnings of an institution.
· Prepare drafts of schedules, exhibits, and comments for inclusion in the completed report of examination.
· Conduct audit test checks on income and expense accounts, computing and reconciling Capital Accounts and reconciling cash.
· Review liquidity including the analysis of fluctuations in loans, securities, deposits, and borrowings.
· Verify securities and other investments borrowings and other liabilities, and assigned collateral, pledged assets, and safe keeping items.
· Participate in other phases of an examination as assigned.
The FMSP offers paid summer internships that include vacation and sick leave and opportunities for travel. Scholars participate in a one-week orientation session followed by 9-10 weeks of on-the-job training in one of the FDIC’s field offices (more than 50 internship locations are available nationwide). Scholars complete an automated writing assessment during the field office assignment. At the end of the program, scholars who are eligible may receive post-graduation employment offers with the FDIC.
The FDIC will begin accepting applications for internships that begin in May 2021.
Please apply via the external application link through Handshake.
Little Rock, AR Columbus, OH
Phoenix, AZ Oklahoma City, OK
Orange, CA Blue Bell, PA
San Francisco, CA Columbia, SC
Rocky Hill, CT Sioux Falls, SD
Wilmington, DE Knoxville, TN
Tampa, FL Nashville, TN
Albany, GA Austin, TX
Savannah, GA Dallas, TX
Cedar Rapids, IA Lubbock, TX
Des Moines, IA Salt Lake City, UT
Sioux City, IA Richmond, VA
Hays, KS Madison, WI
Boston, MA Scott Depot, WV
Kansas City, MO
New York, NY
Minimum Educational and Other Requirements:
1. U. S. citizenship.
2. Enrolled at least half-time in a bachelor’s degree program at an accredited college or university.
3. Completion of the junior year with a major in economics, business administration, accounting, mathematics, statistics, or a related field, an overall GPA of 3.25, and a planned graduation date between December 2021 and December 2022.
4. Successful completion of the FDIC’s background investigation requirements.
FDIC is an equal opportunity employer. Applications are considered without regard to race, color, age, religion, gender, national origin, physical disability or any other non-merit factor.