Financial Management Scholars Program (Internship)
Program Overview:
The Federal Deposit Insurance Corporation (FDIC) is widely recognized as a premier financial regulatory agency. The Financial Management Scholars Program (FMSP) is a paid summer internship program. It provides highly-qualified college juniors majoring in economics, business administration, finance, accounting, mathematics, statistics, and related fields with hands-on experience evaluating bank operations, business planning, risk management strategies, and consumer protection practices.
Scholars attend a one-week orientation session in Washington, DC, followed by 9-10 weeks of on-the-job training in one of the FDIC's field offices (over 50 internship locations available nationwide). Scholars work on teams with experienced FDIC employees in their assigned field offices to ensure that banks are following safe and sound banking practices, maintaining effective internal controls and procedures, managing their institutions effectively, and/or complying with all applicable consumer protection, fair lending, and other laws and regulations. Scholars must complete an automated writing assessment during the field office assignment before returning to Washington, DC, for the program's capstone week to share their experiences and participate in additional skills assessments. At the end of the program, some Scholars will receive post-graduation employment offers with the FDIC.
Extensive overnight travel may be required. Bank examinations are conducted on-site at banks, sometimes at great distance from the FDIC office. Scholars are reimbursed for travel expenses, but are responsible for providing their own transportation to bank examination sites. Public transportation is often unavailable. (FDIC employees generally drive their personal automobiles to bank exams and are reimbursed for mileage.)
Minimum Educational and Other Requirements:
- U.S. Citizenship
- Enrolled at least half-time in a bachelor's degree program at an accredited college or university.
- Completion of the junior year with a major in economics, business administration, accounting, mathematics, statistics, or a related field, an overall GPA of 3.25, and a planned graduation date between December 2020 and December 2021.
Program Dates:
- Session 1: May 18 - August 7, 2020 (12 weeks)
- Session 2: June 15 - August 28, 2020 (11 weeks)
Compensation:
Annual salary ranges from $40,857 - $56,024 ($19.57 - $26.84 per hour), depending on location. Scholars also earn vacation and sick leave.
How to Apply:
If you are interested in our premier internship program, openings are available now through December 2, 2019.
Please visit the following website:
https://www.fdic.gov/about/jobs/fmsp/brightfuture.html
You must attach to your online application:
- A resume
- An official or unofficial transcript showing courses completed, current courses, major, and current GPA
- Cover letter explaining why you are interested in the FMSP
- Letter of reference from a faculty member at your college or university who is familiar with your qualifications. (Must be submitted separately from the processor, and it must be received by the FDIC following the guidelines in the job posting.)
Veterans must include a copy of the DD214 to obtain employment preference.
Applications will be deemed incomplete if all required documents are not received by the prescribed deadlines.
Other Information:
Scholars may elect to receive a one-time $2,500 stipend (in addition to bi-weekly salary) at the beginning of the program. Certain stipulations apply. Scholars are responsible for providing their own housing.
FDIC is an equal opportunity employer. Applications are considered without regard to race, color, age, religion, gender, national origin, physical disability or any other non-merit factor.