Job Description:

Company

Federal Reserve Bank of Richmond

Grow Your Career at the Richmond Fed!

At the Richmond Fed, we’re driven by our mission to strengthen the economy and our communities. We take great pride in what we do and how it impacts people every day.

When you join our team, you’ll become part of a culture that welcomes differences, cares about our communities, and empowers each other to lead from where we are to make things better.

Bring your passion and we’ll provide challenging and purposeful careers in a variety of fields, opportunities to grow and a wide range of benefits and perks that support your health and wealth. It’s all part of what makes #MyRichmondFed a great place to work!

About the Opportunity

The Richmond Fed Supervision, Regulation, and Credit (SRC) department is now hiring for our 2025 Summer Internship Program. SRC is responsible for the supervision of bank holding companies, state member banks, and foreign banking organizations.  Supervision is completed from two differing aspects, safety and soundness (assessing a bank’s financial performance and risk to the FDIC insurance fund) and consumer compliance (assessing a bank’s compliance with consumer guidelines such as Fair Lending and Community Reinvestment Act). SRC is also responsible for Discount Window operations where money can be lent to organizations in need of funding.

The Assistant Examiner Internship Program provides a unique experience to explore SRC’s supervision business lines and will be located in Richmond, VA. The program provides summer interns with the opportunity to enhance essential business skills and increase understanding of the Federal Reserve’s role in the supervision of financial institutions. During the program, you will gain exposure to the supervisory process through bank examination participation. While participating on bank examinations, you will interact with management at supervised institutions, review reports, participate in meetings, and assess risk exposures.  You may review topics ranging from adequacy of risk management practices, operational controls, financial condition, and/or compliance with banking laws and regulations.  In addition, you will participate in foundational learning, develop a relationship with a mentor, create and deliver presentations, and complete a final project

As part of the Bank’s larger intern cohort, you will participate in professional development activities and be provided with an extensive understanding of the work of the Federal Reserve. In addition to specific business area tasks, you will receive leadership training, mentorship and valuable networking opportunities.

What You Will Do:

• Rotate through three supervision business lines.




• Participate in an examination at the Federal Reserve Bank and/or a state member bank.




• Communicate findings and conclusions of supervisory activities to examination staff and senior management.




• Responsibly handle highly sensitive and confidential information.




• Observe and participate in relevant meetings to gain an extensive overview of the department and critical examination issues.




• Participate in a bank simulation exercise.




• Work with other interns to create and deliver a presentation to SRC related to internship experience.

Qualifications:

• Rising senior with a minimum 3.3 GPA with a preferred emphasis in Accounting, Finance, Business Administration, Economics, Mathematics, Statistics, or related field.




• Strong project management skills, including organization, planning and execution, analytical and problem-solving skills.




• Strong communication and interpersonal skills, including the ability to work effectively in a team environment.




• Intellectual curiosity with willingness to ask questions.

Other Requirements and Considerations:

• An applicant posting for employment as a Federal Reserve examiner intern must be a U.S. citizen or hold a permanent residence visa/Green Card and be an intending citizen.  Sponsorship or practical training extensions are not available for this position.




• Under conflicts of interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.




• Please review the Bank’s Code of Conduct to ensure compliance with conflicts of interest rules and personal investment restrictions. The Code is available on the About Us, Careers webpage at www.richmondfed.org.



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  FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:

  
  
  
  

  • their borrowing relationships

  
  

  • if a financial institution employs a member of the employee’s immediate family (

  
  

  • if the individual was employed by the financial institution or affiliate within the past 12 months

  
  
  
  



• In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee.




• Selected candidate is subject to special background check procedures.




• The hourly rate for summer interns is $22.00/hour. 




• Due to the volume of applicant submissions, we may be unable to contact each individual directly

The Federal Reserve Bank of Richmond provides equal opportunity to all individuals without regard to race, sex, color, religion, gender identity or expression, sexual orientation, national origin, age, disability, or genetic information.

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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