Intern, State Street Dedicated Supervisory Team

Federal Reserve Bank•Boston, MA

40d•$18 - $36•Onsite

About The Position

This position is part of the Bank's Internship/ Co-op Program which is offered to students who are currently enrolled in graduate and undergraduate studies. This Program identifies talented and qualified candidates who could potentially fill professional job openings in the Bank. As part of the central bank of the United States, the Boston Fed works to promote sound growth and financial stability in New England and the nation. Our team contributes to communities, the region, and the nation by supporting the supervision of financial institutions and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks, and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership. Overview of Team/ Function: The Supervision, Regulation and Credit Department of the Federal Reserve Bank of Boston has an opening for a co-op within the (DST) within the Large Institution Supervisory Coordinating Committee (LISCC) program. The DST serves as the primary Federal Reserve supervisory contact for the firm and communicates supervisory messages to the firm, including supervisory ratings and annual assessments. The DST is responsible for supervisory planning, executing supervision/examinations, and monitoring the firm's overall safety and soundness. The DST is involved in all aspects of the examination process due to the close relationship with the supervised firm. Analyze regulatory, financial, and company specific data and evaluate trends. Participate in scheduled exams and other supervisory events; assist Examiner-in-Charge and examiners with administrative tasks. Review firm reporting and supervisory conclusions to ascertain risk levels and controls. Assist with the project management of the supervised firm's annual assessment process. Assist in the development of team reporting that tracks supervisory events key deliverables. Participate in training opportunities on risk management and control topics.

Requirements

High school degree or equivalent; must be enrolled in an accredited university/college program
Relevant coursework in public policy, statistics, accounting, finance, or economics.
Strong analytical and critical thinking skills demonstrated by the ability to assimilate new information, understand complex topics, produce sound analysis and recommend a path toward achieving team objectives.
Excellent communication skills, both written and oral presentation.
Ability to thrive as a member of a team and to build collaborative working relationships with colleagues across teams and at different levels.
Proficient in MS Office products: Excel, Word, PowerPoint.
This internship will be an onsite role.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests - such as stocks or bonds - from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe.
For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks. The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position. Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.
All applicants must have been a US Citizen or a permanent resident who also resided in the United States for at least three (3) years.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
All candidates must undergo an enhanced background check and comply with all applicable information handling rules.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

Responsibilities

Analyze regulatory, financial, and company specific data and evaluate trends.
Participate in scheduled exams and other supervisory events; assist Examiner-in-Charge and examiners with administrative tasks.
Review firm reporting and supervisory conclusions to ascertain risk levels and controls.
Assist with the project management of the supervised firm's annual assessment process.
Assist in the development of team reporting that tracks supervisory events key deliverables.
Participate in training opportunities on risk management and control topics.

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