Tri-Co: FDIC Financial Management Scholars Program (Paid Summer Internship!)
The FDIC is currently recruiting students for its highly selective Financial Management Scholars Program (FMSP), a paid summer internship for 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 are 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 will also 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, Scholars may receive post-graduation employment offers with the FDIC.
Compensation: Annual salary ranges from $40,857 - $56,024 ($19.57 - $26.84 per hour), depending on location. Scholars are paid bi-weekly and earn vacation and sick leave.
Session 1: May 18-August 7, 2020 (12 weeks)
Session 2: June 15-August 28, 2020 (11 weeks).
Minimum Educational and Other Requirements:
1. U. S. citizenship.
2. Undergraduate enrollment at least half-time in a bachelor’s degree program at an accredited college or university.
3. 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.
4. Successful completion of the FDIC’s background investigation requirements.
For More Information: Contact HR Specialist LaShawndy Cobey at (703) 562-2297.
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.
How to Apply: If you wish to be considered for this internship, you must apply through the FDIC's online application system at the following website (post this URL into your browser): https://www.fdic.gov/about/jobs/fmsp/brightfuture.html.
In addition to completing a short online application questionnaire, you must attach to your application a resume; an official or unofficial transcript showing courses completed and in progress, major, and overall GPA; and a cover letter explaining why you are interested in the FMSP. In addition, a letter of reference is required from a faculty member at your college or university who is familiar with your qualification. The letter of reference must be submitted separately by the professor and must be received by the FDIC in accordance with the guidelines in the vacancy announcement. Applications will be deemed incomplete if all required documents are not received by the prescribed deadlines.
Veterans must include a copy of Form DD-214 to receive employment preference.