Summer Internship - Strategy, Risk, and Financial Management

Federal Reserve System•Philadelphia, PA

1d•$23•Onsite

About The Position

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware. We are looking for a Sophomore, Junior, or Senior undergraduate student for a summer internship in the Strategy, Risk, and Financial Management department. We encourage students majoring in: Finance, Accounting, MIS, or related majors to apply. This is a paid in office internship (Monday- Friday, 40 hours per week) for our summer internship program (typically 10 weeks). The hourly rate for this position is $23.00 per hour. This posting is for a summer intern in the Strategy, Risk, and Financial Management (SRFM) department focusing on Financial Planning and Analysis, Accounting, Asset Management, and Strategy. You will gain exposure to different teams and processes under our corporate finance function: Financial Planning and Analysis: You will help develop and maintain the Bank's operating expense, capital expenditure, and staffing budget and five-year forecast. You will also conduct variance and trend analysis, support forecast adjustments, develop monthly performance presentations for Bank partners, and address ad-hoc financial planning and cost accounting requests. Accounting: You will support activities associated with general ledger account reconciliation, accounting transaction processing, and data verification. You will retrieve accounting documentation as requested by internal and external auditors for testing and be involved with discussions about the information provided. Asset Management: You will support activities associated with capital accounting, capital reporting obligations, and tenant invoicing. You will maintain monthly dashboarding that summarizes ongoing capital projects, accounting determinations and ledger balances. Also, there is an opportunity to review and create educational materials related to accounting standards that will be distributed to department contacts. You will also have opportunities to attend periodic Construction calls and work with several other department including Facilities, Cash and Public Affairs related to their capital projects. Strategy: You will help compile quarterly performance summaries; detail accomplishments related to high priority objectives. You will also help create presentation materials to share strategy-related information with executive-level audiences.

Requirements

Microsoft Office (Excel and PowerPoint), Tableau, and other finance or data visualization applications applicable.

Nice To Haves

Written and verbal communication
Initiative
Collaboration
Attention to detail
Multitasking
Flexibility in assignments as daily tasks may vary.

Responsibilities

Help develop and maintain the Bank's operating expense, capital expenditure, and staffing budget and five-year forecast.
Conduct variance and trend analysis, support forecast adjustments, develop monthly performance presentations for Bank partners, and address ad-hoc financial planning and cost accounting requests.
Support activities associated with general ledger account reconciliation, accounting transaction processing, and data verification.
Retrieve accounting documentation as requested by internal and external auditors for testing and be involved with discussions about the information provided.
Support activities associated with capital accounting, capital reporting obligations, and tenant invoicing.
Maintain monthly dashboarding that summarizes ongoing capital projects, accounting determinations and ledger balances.
Review and create educational materials related to accounting standards that will be distributed to department contacts.
Attend periodic Construction calls and work with several other department including Facilities, Cash and Public Affairs related to their capital projects.
Help compile quarterly performance summaries; detail accomplishments related to high priority objectives.
Help create presentation materials to share strategy-related information with executive-level audiences.