The Financial Institution Internship 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 a professional certification as a commissioned Financial Institution Examiner.
Summary
The Financial Institution Internship 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 a professional certification as a commissioned Financial Institution Examiner.
Applicants 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 2023 or later and are majoring in a certain specified field, (see Education Requirements); and are in good academic standing. Additional selections may be made from this vacancy announcement to fill identical vacancies that occur subsequent to this announcement.
Financial Institution Interns will be assigned to the Division of Risk Management Supervision (RMS). Interns will work directly on teams of experienced FDIC employees to evaluate bank operations, business planning, and risk management strategies. 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. Under the direction and supervision of an Examiner or Assistant Examiner of higher grade, interns will also:
Review and reconcile consolidated reports of condition and income.
Review accounts for overdrafts, prepaid expenses, and other miscellaneous assets.
Assist in assessing the adequacy of fidelity and other indemnity insurance coverage.
Assist in evaluating the adequacy of the insured depository institution procedures and internal routine controls.
Assist in the preparation of information requisite to a thorough analysis of the earnings of an institution.
Prepare drafts of schedules, exhibits, and comments for inclusion in the completed report of examination.
Conduct audit test checks on income and expense accounts, computing and reconciling Capital Accounts and reconciling cash.
Review liquidity including the analysis of fluctuations in loans, securities, deposits, and borrowings.
Verify securities and other investments borrowings and other liabilities, and assigned collateral, pledged assets, and safe keeping items.
Observe the interaction between the FDIC and Bank management.
Participate in other phases of an examination as assigned.
Applicants must be in good academic standing with at least a cumulative (overall) 3.0 GPA and maintain a cumulative 3.0 GPA throughout the duration of the Financial Institution Internship.
Must successfully pass a background investigation.
All selectees must sign an FDIC Pathways Internship Participant Agreement.
If selected, you may be required to serve a trial period.
Financial Institution Examiners must maintain the highest personal ethical standards as provided in Part 336 of the FDIC's Rules and Regulations, (Employee Responsibilities and Conduct). Financial Institution Examiners must comply with Section 3201.102 of Supplemental Standards of Ethical Conduct for FDIC Employees (5 CFR Part 3201), which, in part, prohibits them and their immediate families from accepting certain credit from State nonmember banks.
All Financial Institution Examiners are prohibited from the following: 1. Obtaining a loan or a line of credit from any insured state nonmember bank or its subsidiaries. Any extensions of credit held by the Examiner, the Examiner's spouse, or any dependent children are direct or indirect extensions of credit to the Examiner.
Exceptions: a. Loans for a primary residence are permissible. The Examiner must not participate in any examination of that institution with which he holds the primary residence loan, and a "cooling off" period is required before negotiating a loan for a primary residence from any institution the Examiner has examined. b. No restrictions on obtaining credit cards issued under the same terms and conditions available to the public from an insured state nonmember bank either within or outside of their field office of assignment. 2. Participating in any examination, or other matter, involving an insured depository institution or any person with whom the Examiner has an outstanding loan or line of credit. 3. Performing any service for compensation with any bank, or for any officer, director, or employee thereof, or for any person connected therewith. 4. Disclosing any confidential information from a bank examination report except as authorized by law. 5. Soliciting or accepting any gift from a prohibited source or because of the Examiner's official position.
Qualifications
To qualify at the CG-4 level, applicants must have completed two full academic years towards the degree (requirement must be met by time of appointment).
Education
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 should be documented in the transcript or proof of enrollment);
Have at least a cumulative (overall) 3.0 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 for further details.
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 for further details.
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 this link for more information on the FDIC Pathways Student Internship Program and to access the vacancy announcement for instructions on how to apply.
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 this link for more information on the FDIC Pathways Student Internship Program and to access the vacancy announcement for instructions on how to apply.
