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Graduate Summer Associate Program – Markets Group (Based in NYC)-260826

Graduate Summer Associate Program – Markets Group (Based in NYC)-260826
Federal Reserve Bank of New York
Primary Location NY-New York City
Full-time / Part-time Full-time
Employee Status Temporary
Overtime Status Exempt
Travel No
Shift Day Job

At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed. 
Based in New York City
Program Description:
The Graduate Summer Associate 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, associates are provided with an extensive understanding of the work of the New York Fed. Summer Associates will be given the opportunity to enhance their business skills through critical financial analysis, formal presentations, research and writing.
Associates are assigned to a particular business area for the summer, but they will also have opportunities for collaboration with other Associates/Analysts and with employees from around the Bank. In addition to their daily responsibilities, Associates 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.
What we do:
The Markets Group at the Federal Reserve Bank of New York 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. Through its analytical and operational areas, the Markets Group:
  • Implements domestic open market and foreign currency operations on behalf of the Federal Open Market Committee;
  • Monitors and analyzes global financial markets to inform the formulation and implementation of monetary and financial stability policy;
  • Executes lender of last resort operations for the Second District and collateral valuation services to the Federal Reserve System;
  • Provides infrastructure and financial services for foreign and international monetary authorities; and 
  • Provides capital market-related fiscal agency services to the U.S. Treasury.
What we are looking for:
The Summer Associate Program requires that applicants complete their first year of graduate study (master’s degree) towards a degree in Business Administration, Finance, Economics, Public Policy, or a related field. Further, a minimum of one year of relevant work experience in an analytical capacity and a demonstrated interest in financial markets is required. Additional requirements include:
  • Demonstrated analytical skills, including knowledge of financial instruments and financial market structure, macroeconomic theory and monetary policy;
  • Strong quantitative skills including an understanding of basic statistics and regression;
  • Proven ability to provide concise, articulate and insightful economic analysis in written and verbal form;
  • Ability to analyze complex market issues, make sound decisions and perform under pressure;
  • Ability to work productively in a high-performance team atmosphere as well as independently; and
  • Must adhere to area specific financial disclosure requirements.
To Apply: Please include a resume and unofficial transcript. The application deadline is November 1st, 2019 (11:59 PM EST)*. Internships are paid, summer housing is not provided.
Federal Reserve Bank of New York summer internships are 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.
The Federal Reserve Bank of New York is committed to Equal Employment Opportunity. We will consider all qualified applicants for employment regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or any other legally protected status.
Why the Fed:
Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You'll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It's a challenge that demands the skills of a financial services professional and the intellectual curiosity of an academic—all combined with a passion for public service, as exemplified by our four core values:
Community - There are two facets to community here at the Bank: how we relate and connect with each other internally through our Resource Networks, and how we serve the Second District through our outreach initiatives.
Career – The Bank is committed to leading and developing its people, providing career management and mobility opportunities that allows employees to realize their full potential.
Culture – The Bank’s culture is critical to the success of our mission. We offer a welcoming environment where teamwork is key; everyone’s views are respected. The Bank is committed to supporting work-life balance so employees can pursue a challenging career without giving up their passions outside of work.
Core Mission - Our work matters. We are part of a unique public service organization that plays a vital role in the word’s economic stage. We take pride in our role and the honest, integrity and respect we employ in all our interactions.
The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank’s diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching Out MBA.  Click here to learn more.