Job Description:

Company

Federal Reserve Bank of Minneapolis

The Federal Reserve Bank of Minneapolis’ Graduate Intern Program (Program) in Supervision, Regulation, and Credit (SRC) is intended to introduce Graduate students to the Banking Supervision function and the broader Federal Reserve System. SRC is responsible for the supervision of bank holding companies, state member banks, and foreign banking organizations. This internship is a part of the Consumer Affairs department in SRC, which focuses on supervised institutions’ compliance with consumer protection laws and regulations. The Consumer Affairs department also evaluates the supervised institution’s ability to meet the credit needs of its community under the Community Reinvestment Act (CRA).

The SRC Grad Program provides an opportunity to work in an intellectually stimulating and collaborative environment, to engage in meaningful public service, and to interact with supervision staff at the Federal Reserve Bank of Minneapolis and across the Federal Reserve System. Interns will receive on-the-job mentoring and professional development as they engage in job duties.

The SRC Grad Program provides summer interns with the opportunity to enhance essential business skills and develop an understanding of the Federal Reserve’s role in the supervision of financial institutions. You may review risk management practices, operational controls, financial condition, and/or compliance with banking laws and regulations. In addition to working within SRC, interns working in the Program can participate in Bank-wide professional development activities and network with other intern cohorts.

Internship Hourly Wage: $27.00

The Bank believes in flexibility to balance the demands of work and life while also recognizing the necessity of connecting and collaborating with our colleagues in person. Onsite work is an essential function of this position, and you are expected to be in the office 3 days per week for meetings and team collaboration. The first few weeks will require 100% in-person engagement for on-boarding and training.

Program Description:

• Assist in reviewing consumer complaints against supervised institutions including gathering facts, researching regulatory requirements, and analyzing the institution’s adherence with consumer compliance laws, regulations, and regulatory policies with a particular focus on complaints alleging concerns with fair lending laws and regulations as well as unfair and deceptive acts and practices (UDAP).


• Assist with compliance and CRA supervisory work, focusing on the assessment of compliance risk, the adequacy of risk management systems and operational controls, and the evaluation of an institution’s CRA-related activities.


• Draft, organize, and verify workpapers and related documents with guidance from more experienced examiners.


• Perform financial analysis, conduct financial industry research, and explore emerging banking topics, as needed.


• Participate in internal networking and mentorship opportunities with SRC and bank staff.


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


• Responsibly handle highly sensitive and confidential information.

Required Qualifications:

• Currently enrolled in and actively pursuing a juris doctor (J.D.), with a strong academic record in the program.


• Strong written, verbal, and interpersonal communication skills.


• Ability to work collaboratively within a team.


• Meet Protected Individual requirement.


• Able to work 40 hours per week throughout the duration of the 12-week internship program, starting in June 2025.


• Strong preference will be given to local (Minneapolis/St. Paul and Helena metropolitan areas) candidates; remote work options to be considered on an exception basis.

Additional Preferred Qualifications (Not Required):

• Knowledge of the financial services or banking industry.


• Knowledge of consumer compliance laws, regulations, and risk management practices.


• Knowledge of the Community Reinvestment Act.

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. Candidates who are not U.S. citizens must sign a declaration of intent to expeditiously become a U.S. citizen when eligible. 

Full Time / Part Time

Full time

Regular / Temporary

Temporary

Job Exempt (Yes / No)

No

Job Category

Internship Family Group

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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