The Financial Management Scholars Program (FMSP) is a paid internship that may lead to a post-graduation employment offer as a Financial Institution Specialist, a three and a half year training program leading to professional certification as a commissioned Financial Institution Examiner.Learn more about this agency
Scholars will be assigned to one of FDIC’s two major business divisions: Risk Management Supervision or Depositor and Consumer Protection. 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.
75% or less - Very frequent overnight travel, up to 4 nights per week (most locations).
Job family (Series)
Conditions of Employment
- U.S. Citizenship
- Registration with the <a href="http://www.sss.gov">Selective Service.</a>
- Very frequent overnight travel, up to 4 nights per week (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.
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, have a current overall GPA of at least 3.25, with a planned graduation date between December 2020 and December 2021.
You must be majoring in accounting, banking, commercial or banking law, economics, business administration, marketing, finance, or other fields related to the position.
To be eligible for conversion to the Financial Institution Specialist (FIS) position in the competitive service upon completion of the internship, 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 honor 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.
Scholars will be placed, based on their availability, in one of two sessions scheduled from May 18, 2020 - August 7, 2020, or June 15, 2020 - August 28, 2020. 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 and the disciplines to which they are willing to be assigned if offered a FIS position at the end of the FMSP. Location and discipline 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 10/10/2020. 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. After graduation, they may 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 FDIC's examiner training program, FIS's may be non-competitively converted to a permanent appointment; however, service in the FMSP confers no right to further employment in the competitive or excepted service.
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 may elect to receive a one-time $2,500 stipend (in addition to bi-weekly salary) at the beginning of the program. Certain stipulations apply. Scholars are responsible for providing their own housing.
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 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.
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 2020.
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.
Background checks and security clearance
Drug test required
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. If you attended more than one university and need to send multiple transcripts, please upload/fax all transcripts as one document.
4. A letter of recommendation must be submitted from a professor or other faculty member at your college or university who has a personal knowledge of your qualifications. The letter should specify in what capacity the professor/faculty member knows you (e.g., academic course, work on a project, teaching assistant, academic advisor, work/study, etc.) and should address your competency in the following areas: analytical ability; written communication; oral communication; teamwork; interpersonal skills; organization; time management; leadership; and personal initiative. The professor/faculty member must submit the letter of recommendation directly to HR Specialist LaShawndy Cobey via email at CEPHRB@fdic.gov. The letter of recommendation must be received no later than 11:59 p.m. Eastern Standard Time (EST) Monday, December 9, 2019. Letters of Recommendation submitted directly from applicants 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:
Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications. Therefore, provide only the attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education.
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.
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. Learn more about federal benefits.
Scholars may be eligible for certain Federal employee benefits.
To find out more, click here
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 to Apply
To begin, click the "Apply" button and follow the prompts. If you haven't already, register and establish a USAJOBS account. After you register online, click the "Apply" button to complete the online assessment questionnaire, and submit all required documents. Please be sure to click "Submit Application" 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 on the closing date.
To return to your saved application, log in to your USAJOBS account and click on "Applications" tab. Click on the "Position Title," and then select "Update Application" or "Additional Application Information" 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 are limited to selecting only 5 location(s) listed for which you would like to be considered.
Veterans must include a copy of the DD214 to obtain employment preference.
Agency contact information
AddressFederal Deposit Insurance Corporation
Human Resources Service Center
3501 Fairfax Drive
Arlington, Virginia 22226
You will be notified of the status of your application via e-mail at various points in the process. Please notify us if your contact information changes after the closing date of the announcement.
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 online 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 time frames, you may be contacted to schedule a telephone interview. Employment offers will be made beginning in January 2020.
Thank you for your interest in working for the Federal Deposit Insurance Corporation.
Fair & Transparent
The Federal hiring process is setup to be fair and transparent. Please read the following guidance.
Equal Employment Opportunity Policy
The United States Government does not discriminate in employment on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non-merit factor.
Reasonable Accommodation Policy
Federal agencies must provide reasonable accommodation to applicants with disabilities where appropriate. Applicants requiring reasonable accommodation for any part of the application process should follow the instructions in the job opportunity announcement. For any part of the remaining hiring process, applicants should contact the hiring agency directly. Determinations on requests for reasonable accommodation will be made on a case-by-case basis.
A reasonable accommodation is any change to a job, the work environment, or the way things are usually done that enables an individual with a disability to apply for a job, perform job duties or receive equal access to job benefits.
Under the Rehabilitation Act of 1973, federal agencies must provide reasonable accommodations when:
- An applicant with a disability needs an accommodation to have an equal opportunity to apply for a job.
- An employee with a disability needs an accommodation to perform the essential job duties or to gain access to the workplace.
- An employee with a disability needs an accommodation to receive equal access to benefits, such as details, training, and office-sponsored events.
You can request a reasonable accommodation at any time during the application or hiring process or while on the job. Requests are considered on a case-by-case basis.
Legal and regulatory guidance
This job originated on www.usajobs.gov. For the full announcement and to apply, visit www.usajobs.gov/GetJob/ViewDetails/545188200. Only resumes submitted according to the instructions on the job announcement listed at www.usajobs.gov will be considered.