Program Description:
The Graduate Summer Analyst Program provides outstanding graduate students with the opportunity to gain valuable work experience with a unique institution. Through advanced project work assignments and professional development activities, analysts are provided with an extensive understanding of the work of the New York Fed. Summer analysts will be given the opportunity to enhance their business skills through critical financial analysis, formal presentations, research and writing.

Analysts are assigned to a particular area or function for the summer, but they will also have opportunities for collaboration with other analysts and with employees from around the Bank. In addition to their daily responsibilities, analysts attend weekly presentations hosted by senior management. These presentations provide an extensive overview of the Bank’s responsibilities and operations, and offer a unique opportunity to learn about full-time career opportunities upon graduation. The summer program is the largest recruitment source for the New York Fed’s full time campus hiring.

Opportunities in the summer program include but are not limited to:

Corporate Group:
Provides bank-wide accounting and financial management services, operational risk management, business continuity and contingency, and investment review.

Credit & Payments Risk Group:
Provides independent risk oversight over the New York Fed’s operations. Responsibilities include bank-wide risk assessment & analytics, evaluation of counterparty credit risk, risk assessment of the New York Fed’s exposure to structured finance assets, and advising on Bank lending programs.

Financial Institution Supervision Group:
Supervises and regulates financial institutions in the Second District. Its primary objective is to maintain safe and competitive U.S. and global banking systems. Staff in the Group assesses the safety and soundness of domestic banking institutions and operations of foreign banking organizations in the District through periodic onsite evaluations and offsite financial analysis and surveillance. The Group also analyzes issues and developments to identify emerging supervisory risks and develop domestic and international supervisory policy.

Markets Group:
Consists of multiple business areas that fulfill a range of responsibilities, from planning and executing open market operations, monitoring and analyzing financial market developments, to managing foreign customer accounts.

Requirements:
The Summer Analyst Program requires that applicants complete their first year of graduate study. The program is extremely competitive and size is limited. Applicants must have a demonstrated interest in banking, economics, public policy, or finance, a strong academic record, and a passion for public service. Excellent interpersonal and written communication skills are essential. Specific requirements may be applied based on Group. Please note, summer housing cannot be provided.

To Apply:
Please complete our online application at www.newyorkfed.org/careers for the Graduate Summer Analyst Program. Please include a resume and cover letter. The application deadline is January 15, 2012 but candidates will be considered on an ongoing basis if needed.

Internships may require access to confidential supervisory information, or Federal Open Market Committee Data 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, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.

Submitted by Francisco Loredo