The Financial Management Scholars Program (FMSP) is a paid internship that may lead to a post-graduation employment offer in the FDIC's Corporate Employee Program (CEP), a 3-4 year training program leading to professional certification as a commissioned bank examiner or resolutions and receiverships specialist. The FDIC seeks applicants with strong analytical and quantitative skills, knowledge of the basic principles of accounting and finance, the ability to communicate effectively both verbally and in writing, the ability to work both independently and in teams, and an interest in public service.
Scholars will be placed, based on their availability, in one of two sessions scheduled from May 14, 2018 - August 3, 2018, or June 11, 2018 - August 24, 2018. Scholars will attend a one-week orientation session in Washington, DC, followed by an on-the-job training assignment working out of one of the FDIC's field offices. Scholars will complete an automated writing assessment during the field office assignment and must pass to be eligible for a post-internship employment offer. Scholars will return to Washington, DC for the final week to share their experiences and participate in an additional skills assessment. Scholars will also have the opportunity to select locations where they are willing to work if offered a Financial Institution Specialist (FIS) position at the end of the FMSP. Location placement is at the discretion of FDIC management. Not all offices participating in the FMSP will have permanent positions available after the internship is completed.
Candidates selected for the FMSP will be initially offered a temporary position not-to-exceed 10/13/2018. Scholars who receive and accept employment offers at the end of the FMSP will be placed on leave without pay and will have their temporary appointments extended at the discretion of the FDIC. Scholars entering the CEP will be non-competitively converted to a term appointment as a FIS (contingent upon completing at least 640 hours of work experience acquired through the internship, prior to their graduation, completion of their degree requirements, and fulfillment of the qualification standards for the FIS position and other requirements as specified in the Pathways Agreement). Upon successful completion of the CEP, FIS's may be non-competitively converted to a permanent appointment; however, service in the FMSP confers no right to futher employment in the competitive or excepted service.
Summary
The Financial Management Scholars Program (FMSP) is a paid internship that may lead to a post-graduation employment offer in the FDIC's Corporate Employee Program (CEP), a 3-4 year training program leading to professional certification as a commissioned bank examiner or resolutions and receiverships specialist. The FDIC seeks applicants with strong analytical and quantitative skills, knowledge of the basic principles of accounting and finance, the ability to communicate effectively both verbally and in writing, the ability to work both independently and in teams, and an interest in public service.
Scholars will be placed, based on their availability, in one of two sessions scheduled from May 14, 2018 - August 3, 2018, or June 11, 2018 - August 24, 2018. Scholars will attend a one-week orientation session in Washington, DC, followed by an on-the-job training assignment working out of one of the FDIC's field offices. Scholars will complete an automated writing assessment during the field office assignment and must pass to be eligible for a post-internship employment offer. Scholars will return to Washington, DC for the final week to share their experiences and participate in an additional skills assessment. Scholars will also have the opportunity to select locations where they are willing to work if offered a Financial Institution Specialist (FIS) position at the end of the FMSP. Location placement is at the discretion of FDIC management. Not all offices participating in the FMSP will have permanent positions available after the internship is completed.
Candidates selected for the FMSP will be initially offered a temporary position not-to-exceed 10/13/2018. Scholars who receive and accept employment offers at the end of the FMSP will be placed on leave without pay and will have their temporary appointments extended at the discretion of the FDIC. Scholars entering the CEP will be non-competitively converted to a term appointment as a FIS (contingent upon completing at least 640 hours of work experience acquired through the internship, prior to their graduation, completion of their degree requirements, and fulfillment of the qualification standards for the FIS position and other requirements as specified in the Pathways Agreement). Upon successful completion of the CEP, FIS's may be non-competitively converted to a permanent appointment; however, service in the FMSP confers no right to futher employment in the competitive or excepted service.
Scholars will be assigned to one of FDIC’s three major business divisions: Risk Management Supervision, Depositor and Consumer Protection, or the Division of Resolutions and Receiverships. Scholars will work directly on teams of experienced FDIC employees to evaluate bank operations, business planning, risk management strategies, and consumer protection practices. These teams are responsible for assessing financial institutions to determine whether they are following safe and sound banking practices, maintaining effective internal controls and procedures, managing their institutions effectively, and complying with all applicable laws and regulations, including those relating to consumer protection, privacy, community reinvestment, and fair lending. A small number of Scholars will participate in the closing and sale of failing financial institutions or the management of the ensuing receiverships and their assets.
Registration with the <a href="http://www.sss.gov">Selective Service.</a>
Very frequent overnight travel, up to 3 weeks per month (most locations).
Work at remote and/or multiple work sites.
Must successfully pass a background investigation.
Applicants must be in good academic standing with at least a cumulative (overall) 3.25 GPA and maintain a cumulative 3.25 GPA throughout the duration of the FMSP.
Qualifications
To be qualified, you must be enrolled at least half-time in a bachelor's degree program at an accredited college or university; and must have completed your junior year of college prior to entering the program, with a planned graduation date between December 2018 and December 2019.
You must be majoring in accounting, banking, commercial or banking law, economics, business administration, marketing, finance, or other fields related to the position.
Additional information
Bank examinations are conducted on-site at banks, sometimes at great distance from the FDIC office. Scholars are reimbursed for travel expenses, but are responsible for providing their own transportation to bank examination sites. Public transportation is often unavailable. (FDIC employees generally drive their personal automobiles to bank exams and are reimbursed for mileage.)
Scholars will be responsible for providing their own housing, but will receive a one-time $2,500 stipend (in addition to bi-weekly salary) at the beginning of the program.
Relocation expenses will not be paid; however, travel to and from Washington, D.C. will be paid by the FDIC and Scholars will be reimbursed for travel expenses to get to their duty location.
If selected, Scholars may be required to serve a trial period.
All selectees must sign the FDIC Pathways Participant Agreement.
To be eligible for conversion to the FIS position in the competitive service, you must complete 640 hours of work experience (up to 320 hours may be waived based on successful performance in the position and a 3.5 overall GPA or membership in a national honors society); meet the OPM qualification standards for the target position, which includes six (6) semester hours in accounting coursework; meet the requirements of the FDIC Pathways Participant Agreement; and successfully complete various skills assessments. Service in the FMSP confers no right to further employment. The promotion potential if converted is CG-12.
To read about your rights and responsibilities as an applicant for Federal employment, click here.
Additional selections may be made from this vacancy announcement to fill identical vacancies that occur subsequent to this announcement.
A career with the U.S. government provides employees with a comprehensive benefits package. As a federal employee, you and your family will have access to a range of benefits that are designed to make your federal career very rewarding. Opens in a new windowLearn more about federal benefits.
Eligibility for benefits depends on the type of position you hold and whether your position is full-time, part-time or intermittent. Contact the hiring agency for more information on the specific benefits offered.
How you will be evaluated
You will be evaluated for this job based on how well you meet the qualifications above.
Your application package will be reviewed to determine if you meet the eligibility and qualification requirements outlined in this announcement. The application package must include all required supporting documents (on-line assessment questionnaire, resume, cover letter, transcripts, and letter of recommendation). Applicants who meet the basic eligibility and qualification requirements and have submitted all required documents may be scheduled for a telephone interview. The FDIC plans to make internship offers in January 2018.
If you rated yourself higher than what is supported by your resume, your overall qualifications assessment may be adversely affected.
Qualified applicants who are eligible for veterans’ preference will have selection priority. To preview questions please click here.
A career with the U.S. government provides employees with a comprehensive benefits package. As a federal employee, you and your family will have access to a range of benefits that are designed to make your federal career very rewarding. Opens in a new windowLearn more about federal benefits.
Eligibility for benefits depends on the type of position you hold and whether your position is full-time, part-time or intermittent. Contact the hiring agency for more information on the specific benefits offered.
Along with completing the Online Assessment Questionnaire, you must provide the following:
1. A cover letter (by the closing date of the announcement). The letter should explain why you are interested in the FMSP and how your background (i.e., education, experience/interests, volunteer activities, work, etc.) may fit with this position and with the mission/goals of the FDIC.
2. A resume (by the closing date of this announcement). Your resume must include your expected degree, anticipated graduation date to include month and year, and major field of study. It should also show any work experience (including paid or unpaid internships), particularly those involving financial analysis duties; leadership, public speaking, and/or volunteer experiences; participation in college extra curricular activities (including athletics), study abroad, and community or public service organizations/initiatives; and awards or recognition relating to any of those activities.
3. A copy of all college transcripts (by the closing date of this announcement). Unofficial transcript(s) are acceptable. The transcript(s) must show the courses you have completed, grades/credits earned, and current overall GPA. It must also include the courses in which you are currently enrolled at the time of application. Proof of Enrollment or your current class schedule is acceptable. Education must be from an accredited educational institution. For a listing of accredited educational institutions, click here.
4. A letter of recommendation must be submitted from a professor at your college or university with whom you have completed an academic course. The professor should have a personal knowledge of your qualifications while addressing your abilities in one or more of the following areas: analytical ability; written or oral communication; teamwork and interpersonal skills; organization and time management; and/or leadership and personal initiative. The letter of recommendation must be submitted separately from the professor and it must be received by the FDIC no later than 11:59 p.m. Eastern Standard Time (EST) on Friday, December 08, 2017, via email at CEPHRB@fdic.gov. Letters of Recommendation submitted directly from the applicant will not be accepted.
5. A copy of Veteran's Preference documentation (by the closing date of this announcement): If you are claiming veterans' preference, click here. Veterans must submit the Member 4 copy of the DD 214, Certificate of Release or Discharge from Active Duty - or other copy showing the type of discharge/character of service (e.g., Honorable, Under Honorable Conditions, etc.) along with any other required documents.
Incomplete application packages will not be considered.
If you are relying on your education to meet qualification requirements:
Failure to provide all of the required information as stated in this vacancy announcement may result in an ineligible rating or may affect the overall rating.
To begin, click the "Apply Online" button and follow the prompts to register and establish a USAJOBS account, complete the online assessment questionnaire, and submit all required documents. Please be sure to click "FINISH" to complete the application process. You must apply online. Applicants requesting an exception from the online process must contact the Human Resources Specialist or contact point listed in this announcement prior to 12:00 p.m. EST (Eastern Standard Time) on the closing date. To return to your saved application, log in to your USAJOBS account and click on "Application Status." Click on the "Position Title," and then select "Apply Online" to continue. You have until 11:59 p.m. EST (Eastern Standard Time) on the closing date of this announcement to complete the application process. You will be able to select in the on-line assessment questionnaire up to five field office locations, in order of preference, at which you would like to be considered for employment.
Veterans must include a copy of the DD214 to obtain employment preference.
Federal Deposit Insurance Corporation
Human Resources Service Center
3501 Fairfax Drive
VASQ
Arlington, Virginia 22226
United States
Next steps
You may update your application at any time prior to the closing date of the announcement. You may also check the status of your application on-line 24 hours a day, 7 days a week through USAJOBS by signing in and selecting "Application Status."
If you meet all qualification requirements for this position and submit all required documentation within the specified timeframes, you may be contacted to schedule a telephone interview. Employment offers will be made beginning in January 2018.
Thank you for your interest in working for the Federal Deposit Insurance Corporation.
The Federal hiring process is set up to be fair and transparent. Please read the following guidance.
Along with completing the Online Assessment Questionnaire, you must provide the following:
1. A cover letter (by the closing date of the announcement). The letter should explain why you are interested in the FMSP and how your background (i.e., education, experience/interests, volunteer activities, work, etc.) may fit with this position and with the mission/goals of the FDIC.
2. A resume (by the closing date of this announcement). Your resume must include your expected degree, anticipated graduation date to include month and year, and major field of study. It should also show any work experience (including paid or unpaid internships), particularly those involving financial analysis duties; leadership, public speaking, and/or volunteer experiences; participation in college extra curricular activities (including athletics), study abroad, and community or public service organizations/initiatives; and awards or recognition relating to any of those activities.
3. A copy of all college transcripts (by the closing date of this announcement). Unofficial transcript(s) are acceptable. The transcript(s) must show the courses you have completed, grades/credits earned, and current overall GPA. It must also include the courses in which you are currently enrolled at the time of application. Proof of Enrollment or your current class schedule is acceptable. Education must be from an accredited educational institution. For a listing of accredited educational institutions, click here.
4. A letter of recommendation must be submitted from a professor at your college or university with whom you have completed an academic course. The professor should have a personal knowledge of your qualifications while addressing your abilities in one or more of the following areas: analytical ability; written or oral communication; teamwork and interpersonal skills; organization and time management; and/or leadership and personal initiative. The letter of recommendation must be submitted separately from the professor and it must be received by the FDIC no later than 11:59 p.m. Eastern Standard Time (EST) on Friday, December 08, 2017, via email at CEPHRB@fdic.gov. Letters of Recommendation submitted directly from the applicant will not be accepted.
5. A copy of Veteran's Preference documentation (by the closing date of this announcement): If you are claiming veterans' preference, click here. Veterans must submit the Member 4 copy of the DD 214, Certificate of Release or Discharge from Active Duty - or other copy showing the type of discharge/character of service (e.g., Honorable, Under Honorable Conditions, etc.) along with any other required documents.
Incomplete application packages will not be considered.
If you are relying on your education to meet qualification requirements:
Failure to provide all of the required information as stated in this vacancy announcement may result in an ineligible rating or may affect the overall rating.
To begin, click the "Apply Online" button and follow the prompts to register and establish a USAJOBS account, complete the online assessment questionnaire, and submit all required documents. Please be sure to click "FINISH" to complete the application process. You must apply online. Applicants requesting an exception from the online process must contact the Human Resources Specialist or contact point listed in this announcement prior to 12:00 p.m. EST (Eastern Standard Time) on the closing date. To return to your saved application, log in to your USAJOBS account and click on "Application Status." Click on the "Position Title," and then select "Apply Online" to continue. You have until 11:59 p.m. EST (Eastern Standard Time) on the closing date of this announcement to complete the application process. You will be able to select in the on-line assessment questionnaire up to five field office locations, in order of preference, at which you would like to be considered for employment.
Veterans must include a copy of the DD214 to obtain employment preference.
Federal Deposit Insurance Corporation
Human Resources Service Center
3501 Fairfax Drive
VASQ
Arlington, Virginia 22226
United States
Next steps
You may update your application at any time prior to the closing date of the announcement. You may also check the status of your application on-line 24 hours a day, 7 days a week through USAJOBS by signing in and selecting "Application Status."
If you meet all qualification requirements for this position and submit all required documentation within the specified timeframes, you may be contacted to schedule a telephone interview. Employment offers will be made beginning in January 2018.
Thank you for your interest in working for the Federal Deposit Insurance Corporation.
Fair and transparent
The Federal hiring process is set up to be fair and transparent. Please read the following guidance.
