The Financial Institution Internship is a paid internship that may lead to a post-graduation employment offer with the Federal Deposit Insurance Corporation, Division of Depositor and Consumer Protection (DCP). This post-graduation 3-4-year training program is designed to lead to a professional certification as a commissioned financial institution examiner.
Additional selections may be made from this vacancy announcement to fill identical vacancies that occur subsequent to this announcement.
Summary
The Financial Institution Internship is a paid internship that may lead to a post-graduation employment offer with the Federal Deposit Insurance Corporation, Division of Depositor and Consumer Protection (DCP). This post-graduation 3-4-year training program is designed to lead to a professional certification as a commissioned financial institution examiner.
Additional selections may be made from this vacancy announcement to fill identical vacancies that occur subsequent to this announcement.
75% or less - May require extensive overnight travel.
Required to work at remote and multiple work sites
Relocation expenses reimbursed
No
Appointment type
Internships - The applicants selected will be offered a position in the FDIC Internship Program. The starting date of employment is expected to be May 2021
Work schedule
Full-time - Interns are expected to work full-time during the summer months.
This announcement is open to all U. S. citizens who are enrolled at least half-time as students in an accredited 4-year college or university who have completed at least the sophomore year in college when they enter the program; a planned graduation date of December 2021 or later and are majoring in a certain specified field, (see Education Requirements); and are in good academic standing.
Most interns will work directly on teams with experienced FDIC employees to evaluate bank operations, business planning, 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 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.
Under the direction and supervision of an Examiner-in-Charge or higher graded team member, the incumbent will participate in and/or independently perform the following:
1. Assesses the adequacy and determines the strength of the Compliance Management System (senior management oversight; compliance program, including the elements of policies, monitoring, and training; and audit procedures) to ensure ongoing compliance as related to the particular regulation under review.
Also, conducts reviews and assessments of the following:
Examines initial disclosures, periodic statements, advertisements, and other information to evaluate procedures and reviews for compliance with applicable regulations.
Examines closed-end non-real estate credit transactions for compliance with applicable regulations.
Reviews the Home Mortgage Disclosure Act loan application register for accuracy and assesses the bank’s overall reporting procedures.
Reviews adverse action notices for compliance, and to gain a cursory exposure to applicable lending-related regulations.
Examines a sample of residential, consumer, commercial and agricultural files to determine compliance.
2. Reviews applicable regulations and examination manual to become informed about the Community Reinvestment Act (CRA).
3. Participates in discussing the overall examination process including evaluating the bank’s Compliance Management System (senior management oversight; compliance program, including the elements of polices, monitoring, and training; and audit procedures). Asks questions to gain clarification and understanding of examination policies and procedures.
Observes the interaction between the FDIC and Bank personnel.
Responds to questions from other examiners regarding his/her section of the Report of Examination.
Reviews the CRA of an institution and participates in discussions for assigning its rating.
Prepares a summary of each performance factor describing why rating was assigned.
With the assistance of an experienced examiner, participates in meetings as appropriate.
After the meeting, asks questions and discusses exam findings with examiner-in charge or higher graded team member.
Prepares a written summary of what was observed during the meeting/interview for input into the report or memo.
The applicants selected will be offered a position in the FDIC Pathways Internship Program. The starting date of employment is expected to be approximately May 2021. After successful completion of the program requirements and based on the FDIC’s needs, the selectees may be non-competitively converted to the Financial Institution Specialist position in the competitive service with promotion potential to the CG-12 grade level.
To be eligible for conversion to the Financial Institution Specialist (FIS) position, interns 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 FIS position, which includes six (6) semester hours in accounting coursework; meet the requirements of the FDIC Pathways Internship Program Participant Agreement; and successfully complete various skills assessments.
Interns being considered for conversion will complete and must pass an automated writing assessment to be eligible for a post-internship employment offer. Interns who pass the writing assessment will participate in an additional skills assessment. Interns entering the program will be non-competitively converted to a term appointment as a FIS. Upon successful completion of the program, FIS's may be non-competitively converted to a permanent appointment. Service in the FDIC Pathways Internship program confers no right to further employment in the competitive or excepted service.
Must successfully pass a background investigation.
If selected, you may be required to serve a trial period.
All selectees must sign an FDIC Pathways Internship Participant Agreement.
Qualifications
Qualifying experience may be obtained in the private or public sector. Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g. Peace Corps, AmeriCorps) and other organizations (e.g., professional; philanthropic, religious spiritual; community; student, social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience. Additional qualifications information can be found here.
To qualify at the CG-04 grade level, applicants must have:
For CG-4: completed 2 full academic years of post-high school study or associate's degree.
To be eligible applicants must:
Be seeking a degree at an accredited college/university with a MAJOR in accounting, banking, business administration, commercial or banking law, economics, finance, marketing, or other fields related to the position (Major must be documented in the transcript or proof of enrollment);
Have at least a cumulative (overall) 0 GPA (requirement must be met before the announcement closes);
Have completed two full academic years towards the degree (requirement must be met by the first day of employment);
Submit all required documents (must be submitted by the closing date of this announcement). To view the required documents, locate the "How to Apply" tab.
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.
See vacancy announcement.
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.
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.
See vacancy announcement.
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.
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.
Click the following link for more information on the FDIC Pathways Student Internship Program and to access the vacancy announcement for instructions on how to apply: https://www.fdic.gov/about/jobs/fiinternprogram.html.
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.
Click the following link for more information on the FDIC Pathways Student Internship Program and to access the vacancy announcement for instructions on how to apply: https://www.fdic.gov/about/jobs/fiinternprogram.html.
