Spring 2025: Digital Money and Payments R&D Intern at Federal Reserve Bank (FRB) in Boston, Massachusetts

Job Description:

Company

Federal Reserve Bank of Boston

As an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership.

This job is eligible for a hybrid schedule with some on-site work expected.

What we do:
Given the role of the US dollar and payment systems, the Federal Reserve System seeks to further understand the implications, costs, and benefits of the use of different technologies for the future of money and payments, notably as these relate to the roles of a central bank supporting the U.S. financial system. This position offers a unique opportunity to be part of a world-class team working on cutting edge technologies related to digital currency and other tokenized assets, application of smart contracts, wholesale settlement services, ledger design, and advanced cryptography. You will participate in a dynamic work environment that has the feel of a startup while also maintaining the benefits of a larger organization.

 

This role is designed for students to gain real life experience working in a multi-faceted team, and we are looking for candidates that can support one of three areas: Operations, Engineering, and Product. This position is responsible for supporting the Federal Reserve System’s Research and Development around the future of money and payments.

This role is eligible for a hybrid schedule, with a mix of remote work from your home office in the First District and planned onsite work expected for intentional collaboration. Limited travel may be required. Candidates must reside in First District.

Note: this is a fulltime Spring internship starting in January and ending in June.

How You’ll Succeed:
Interface with stakeholders throughout the Federal Reserve System and Board of Governors to facilitate the success of our research. This may include, but is not limited to:

Engineering:

• Write and review code




• Create and maintain infrastructure

Product

• Conduct product research to inform projects




• Draft Product Requirements Documents and collaborate with Engineering

 

Operations

• Collaborate across internal stakeholders, including Legal, Audit, Finance, and Procurement, to identify and address risks and challenges.




• Design process improvements to help team work efficiently and effectively.

 

About You:
Open to both undergraduate and graduate students, preferably in a relevant field such as government and politics, business, economics, finance, law, or engineering. A successful candidate will have the following qualifications:

• Excellent project management capabilities.




• Sophisticated user of Microsoft Office tools (e.g., Word, Excel, PowerPoint).




• Excellent written and oral communication skills.




• Good interpersonal and presentation skills.




• High level of self-motivation and initiative.




• Strong team player.

 

Desirable qualifications:

• Working knowledge of the Federal Reserve System




• Strong grasp of the fundamentals of money, banking, payments, finance, and related concepts.




• Ability to balance longer-term objectives and shorter-term deliverables efficiently, successfully, and on time.




• Understanding of technology development, coding, and big data.

 

The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

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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