Summer Law Clerk

Federal Reserve System•New York, NY

2d•Onsite

About The Position

When you work at the New York Fed, you have the opportunity to make an impact in our communities and across the nation. Our mission-driven, curious, and dedicated colleagues apply their diverse perspectives and unique talents to support the strength of the U.S. economy and stability of the global financial system. Program Description: The 1L Summer Law Clerk Program gives first-year law students the opportunity to gain valuable work experience at a unique institution. Through dynamic, project-based work assignments and professional development activities, students get: Real-world experience that helps them build strong skills and knowledge in the legal field The chance to contribute to meaningful work that makes an impact on the lives of all Americans Opportunities to meet, network with, and work alongside our mission-driven, curious colleagues—all of whom are happy to share their experiences and advice An experienced professional mentor to support them throughout the program Access to learning events with senior leaders from the New York Fed and other notable institutions, giving them direct insight into the public service and financial services world Our Unique Work: The Legal Function of the New York Fed hires first-year law students each summer for a 10-week paid clerkship program. Law clerks receive challenging, diverse assignments from the two divisions of the Legal Function, described in the “Overview of the New York Fed’s Legal Function” section below. The assignments frequently involve legal research and writing and are typical of the assignments given to junior attorneys in the Legal Function. Law clerks are paired with mentors for the summer to provide guidance on a personal and professional basis. How You’ll Make an Impact as a Law Clerk Contribute to the execution of various activities that support Legal & Compliance Group projects and programs which may include: Document Review and Analysis (assistance with review of documents maintained within the Division to determine whether they should be maintained or destroyed in accordance with Records Management Policy); Review of agreements/contracts (review compiled agreements and discuss relevant provisions); Case Law Update (review summary document of cases and descriptions; confirm each case has not been overturned); and Drive initiatives to meet business goals and implement operational efficiencies. The Unique Skill Sets We’re Looking For: Touchstone Behaviors Academic record Research and writing skills Interest in and commitment to public sector employment Personal maturity Personal achievement To Apply: The application portal on the New York Fed’s public website will open on Monday, January 5, 2026, by 12:00 noon ET. Positions are filled on a rolling basis. The application deadline is February 27, 2026 (11:59 PM EST), although if all positions are filled, the application portal may be closed prior to February 27, 2026. Only first-year law students will be considered. The program requires that applicants complete their first year of law by the beginning of the clerkship, which is ordinarily in late May. Candidates must supply a cover letter and resume with their on-line application. An applicant’s cover letter should be uploaded in the same section of the application site that asks for a resume to be uploaded. The cover letter should address the following questions: 1) Why do you want to work at the New York Fed? 2) How have your personal, professional, and academic experience contributed to your interest in public service? 3) What’s one aspect of the New York Fed’s work that you’d like to learn more about? In addition, all applicants must submit law school transcripts as soon as they are available. If a law school GPA is not yet available when applying, please enter “0.0” as a GPA. Since the process is rolling, applicants should apply with a resume and cover letter; the law school transcript may be submitted or emailed separately after the application has started. A writing sample is required from candidates invited to interview. Applicants must generally be available for web-based videoconference interviews during January and February of 2026. Please note, summer housing is not provided. At the Bank, we work full-time onsite with our teams. We believe being physically together allows us to draw on our collective strengths, while recognizing that the ability to work flexibly from time to time remains important to achieving our mission. Summer law clerks must remain in the United States for certain aspects of the pre-employment & background check process, which will start approximately 6 weeks prior to the first day of the internship. In addition, all candidates must comply with information handling rules. For any questions regarding the Summer Law Clerk Program, please write to Cristina Fajardo at [email protected] or [email protected]. Other Things to Know: Annual Salary Range: Salary is based on an annualized salary of $94,900 prorated for the 10-week internship We believe in transparency at the New York Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions. This position requires access to certain sensitive information and is therefore limited to (1) U.S. citizens or (2) applicants who have either already applied for U.S. citizenship or are eligible to apply, and will apply, for U.S. citizenship before the first day of the internship. Applicants in the latter category who have not yet applied for U.S. citizenship must sign a declaration of intent upon receiving the offer letter confirming that they are eligible to apply, and will apply, for U.S. citizenship prior to the first day of the internship. OVERVIEW OF THE NEW YORK FED’S LEGAL FUNCTION The Legal Function's mission is to provide high-quality legal services to the New York Fed. The function is headed by the Bank's general counsel and comprises two divisions, each headed by a deputy general counsel. The Supervision, Markets & Financial Services (SMFS) division provides legal advice in connection with: (i) financial institution supervisory and regulatory matters, including legal support for supervision and regulatory reporting and legal analysis of regulatory applications; (ii) the Bank’s open market, U.S. Treasury auction, foreign exchange, reference rate and discount window operations; (iii) the Bank’s external and sponsored committees and (iv) financial and account services of the Bank for the U.S. Treasury, foreign central banks and international organizations, depository institutions, and other customers, and analyzes pending legislation. The Enterprise Legal Services (ELS) division provides a range of expertise in support of the Bank’s mission and operations. The Enforcement and Litigation team represents the Bank in litigation and other disputes, advises on litigation risk and oversight matters and, together with the Board of Governors, pursues regulatory enforcement investigations and actions against supervised financial institutions in the Second Federal Reserve District. The Financial Intelligence and Investigations Unit conducts investigations, responds to law enforcement requests, and provides expertise on matters including financial fraud, accounting, and BSA/AML and OFAC-related matters. The Employment & Corporate Matters team advises on employment and labor law matters that impact the Bank’s people, including those related to cross-district employment, ethics, immigration, leaves and accommodations, organizational change, and personnel policies, and advises and provides legal support to the Bank’s Freedom of Information Office. The Technology and Contracts team drafts, negotiates and advises on documents relating to the Bank’s procurement of goods and services, software and data licensing, cloud computing, and other technologies as well as matters relating to intellectual property, data privacy and security. Find Out Why We’re an Award-Winning Workplace: Top 3 Most Inspiring Public Sector Workplaces in North America (Inspiring Workplaces, 2024, 2025) Early Talent Award Winner (Handshake, 2024, 2025) Campus Forward Award Winner (Ripple Match, 2023, 2024, 2025) Our culture is deeply grounded in our Touchstone Behaviors. By working with us, you’ll have the opportunity to develop and demonstrate your ability to Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership. These competencies shape our culture here at the Bank. They also provide a shared language for how we work together and achieve success and set clear expectations for leading with impact at every stage of your career. Learn more. Apply now if you’re ready to join us in strengthening the U.S. economy together. Want to consider our other opportunities? Click here to see all our open roles. The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules. We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at [email protected] and we’ll be glad to help. Please note, this email box is designed exclusively to assist job applicants with accommodation requests. All other inquires, including the status of applications, will not receive a response. This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change. Full Time / Part Time Full time Regular / Temporary Temporary Job Exempt (Yes / No) Yes Job Category Internship Family Group Work Shift First (United States of America) 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. Privacy Notice OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government. OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward. Why Our People Choose Us: Our reputation precedes us There will always be room for personal growth Our people are first You’ll find the right balance Your responsibilities will be meaningful We hope that you will be our future colleague. Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels. Please check back later for more information on available job opportunities.

Requirements

Touchstone Behaviors
Academic record
Research and writing skills
Interest in and commitment to public sector employment
Personal maturity
Personal achievement
Only first-year law students will be considered.
The program requires that applicants complete their first year of law by the beginning of the clerkship, which is ordinarily in late May.
Candidates must supply a cover letter and resume with their on-line application.
An applicant’s cover letter should be uploaded in the same section of the application site that asks for a resume to be uploaded.
The cover letter should address the following questions: 1) Why do you want to work at the New York Fed? 2) How have your personal, professional, and academic experience contributed to your interest in public service? 3) What’s one aspect of the New York Fed’s work that you’d like to learn more about?
all applicants must submit law school transcripts as soon as they are available.
Applicants must generally be available for web-based videoconference interviews during January and February of 2026.
Summer law clerks must remain in the United States for certain aspects of the pre-employment & background check process, which will start approximately 6 weeks prior to the first day of the internship.
all candidates must comply with information handling rules.
This position requires access to certain sensitive information and is therefore limited to (1) U.S. citizens or (2) applicants who have either already applied for U.S. citizenship or are eligible to apply, and will apply, for U.S. citizenship before the first day of the internship. Applicants in the latter category who have not yet applied for U.S. citizenship must sign a declaration of intent upon receiving the offer letter confirming that they are eligible to apply, and will apply, for U.S. citizenship prior to the first day of the internship.

Responsibilities

Contribute to the execution of various activities that support Legal & Compliance Group projects and programs which may include:
Document Review and Analysis (assistance with review of documents maintained within the Division to determine whether they should be maintained or destroyed in accordance with Records Management Policy)
Review of agreements/contracts (review compiled agreements and discuss relevant provisions)
Case Law Update (review summary document of cases and descriptions; confirm each case has not been overturned)
Drive initiatives to meet business goals and implement operational efficiencies.

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