2025 Summer Program- Graduate- Markets Group (CHICAGO) at Federal Reserve Bank (FRB) in New York, New York

Job Description:

Company

Federal Reserve Bank of New York

The Graduate Summer Associate Program provides you with the opportunity to gain valuable work experience at a unique institution. Through advanced project-based work and professional development activities, you’ll get an extensive understanding of the New York Fed’s consequential and dynamic work. You’ll also be given the opportunity to enhance your business skills through critical financial analysis, formal presentations, research and writing—all designed to prepare you for what’s next in your education and career journey. As an associate, you’ll be assigned to a particular business area while also having opportunities to collaborate with other associates, other analysts, and employees from around the Bank. In addition to your daily responsibilities, you’ll attend weekly presentations hosted by New York Fed leaders. These presentations aim to provide an extensive overview of the Bank's responsibilities and operations and offer a unique opportunity to learn about full-time career opportunities, as our summer program is the primary recruitment source for the New York Fed's fulltime campus 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 Markets Group at the Federal Reserve Bank of New York consists of multiple teams 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:

• Manages the size and composition of the Federal Reserve System's balance sheet consistent with the directives and the authorization of the Federal Open Market Committee (FOMC)




• Monitors and analyzes financial market developments for key stakeholders and policymakers within the Federal Reserve System Monitors and analyzes developments related to financial stability.




• Supports debt issuance and debt management on behalf of the U.S. Treasury




• Provides foreign exchange services to the U.S. Treasury




• Provides account services to foreign central banks, international agencies, and U.S. government agencies.

Your role as a Summer Associate in Markets (Chicago):

• Participate in projects related to analyzing and understanding global and domestic financial market developments




• Support senior staff with economic and financial market data analysis




• Prepare documentation which may include tables, charts and graphs used to support financial market monitoring and analysis conducted by the Group

What we are looking for:  

• The Markets Summer Associate Program is open to students graduating with an advanced degree during the Winter 2025 or Spring 2026. The program size is limited. You should have a demonstrated interest in economics, public policy, finance, and a strong academic record.

You should also have:

• Quantitative analysis skills and familiarity working with spreadsheets, databases, and analytical tools (e.g. Excel, SQL).




• Academic exposure and/or experience in international and domestic capital markets and instruments, and US monetary policy and economics




• Ability to source, prepare, and visually represent data for written reports using common tools (e.g. Excel, Tableau)




• Ability to perform preliminary research and help prepare data regarding foreign and domestic markets issues




• Programming experience (e.g. Python, R) is a plus, but not required




• Relevant professional work experience is also a plus, but not required 

 To Apply: Please include a resume and unofficial transcript.

Applications for our 2025 Graduate program close on October 11th, 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 10 weeks will be paid on a semi-monthly basis and will be calculated based on an annual salary of $83,500, 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 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)

Yes

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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