2025 Summer Program - Sophomore- Legal & Compliance at Federal Reserve Bank (FRB) in New York, New York

Job Description:

Company

Federal Reserve Bank of New York

The Sophomore Career Exploration Internship gives you the opportunity to gain valuable work experience at a unique institution. Through project-based work and professional development activities, you’ll get both an introduction to professional life and an understanding of the New York Fed’s consequential and dynamic work.  In addition to your daily responsibilities, you’ll gain personal and professional skills to help you prepare for the next steps in your education and career journeys. You’ll be part of a collaborative and inclusive cohort and be paired with a mentor who’s excited to support you. During your internship, you’ll also learn more about our Junior Summer Analyst program, which serves as a recruitment pipeline for the New York Fed’s entry-level hiring.

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 will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.  
 
The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance. 

What we do:   

The Legal and Compliance Group comprises four separate and distinct Functions: Bank Applications, Compliance, Group Operations and Strategy, and Legal. Internships will be available in the:

• Compliance Function: Identifies and assesses risks related to the failure to comply with the Bank's code of conduct, internal policies, and regulations principally associated with anti- money laundering, U.S. economic sanctions compliance, fraud risk, sensitive data management, trading operations, and other restrictions related to employee conduct.




• Group Operations and Strategy Function: Provides the Legal & Compliance Group with resources and strategies in furtherance of group and Bank objectives through its three business units: Business Operations and Strategy, GOAS Prime Services, and Risk Management and Contingency Planning.

• Legal Function: Provides effective, efficient and client-focused legal services to the Federal Reserve Bank of New York. The Enterprise Legal Services (ELS) division provides a range of expertise in support of the Bank’s mission and operations through its four business units: Enforcement and Litigation, Financial Intelligence and Investigations, Employment and Corporate Matters, and Technology and Contracts.

Your role as a Summer Legal and Compliance Analyst

Contribute to the execution of various activities that support Legal & Compliance Group projects and programs which may include:

• Document Review and Analysis (assistance with review of documents maintained within the Division to determine whether they should be maintained or destroyed in accordance with Records Management Policy);




• Review of agreements/contracts (review compiled agreements and discuss relevant provisions);




• Case Law Update (review summary document of cases and descriptions; confirm each case has not been overturned); and




• Drive initiatives to meet business goals and implement operational efficiencies.

What we are looking for:  

• A demonstrated interest in finance, accounting, economics, capital markets, business, ethics and compliance, or operational management with a strong academic record and passion for data analysis.




• High interest in Finance, Banking, or Economics, with a strong academic record and a passion for public service.




• Detail oriented with excellent interpersonal and written communication skills. Demonstrated working knowledge of Microsoft Office Suite (e.g., Excel, Word, PowerPoint) and Acrobat.




•  Ability to work independently as well as in a team environment




• Expected graduation between Winter 2026 and Spring 2027  

To Apply: Please include a resume and unofficial transcript. Applications for our 2025 Sophomore program close on October 4th, 2024 at 11:59pm EST*. For a full breakdown of the recruitment timeline, visit our website. This is a paid internship. Please note, summer housing is not provided.

Salary Range: Your regular wages for the 8 weeks will be paid on a semi-monthly basis and will be calculated based on an annual salary of $65,600, less applicable taxes. We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.  

  

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.  

  

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.  

  

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service.  

  

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.   

  

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.  

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.     

Full Time / Part Time

Full time

Regular / Temporary

Temporary

Job Exempt (Yes / No)

No

Job Category

Internship

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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