Financial Accounting Policy & Reporting Intern, RBOPS (Summer 2024)

About the Intern Program

The Federal Reserve Board (Board) provides students opportunities for career success. The Board’s Internship program is designed to provide valuable work experience for undergraduate and graduate students considering careers including, but not limited to, economics, finance and accounting, information systems, and data analysis. The Board believes that by combining academic endeavors with project-related work experience, qualified and capable college students can gain the practical knowledge need in a competitive global job market. Internships are paid positions with salaries commensurate with credit hours; internships may be in-person, remote or hybrid, depending on the needs of the team. Employment in the Board’s internship program is granted to U.S. citizens. Applicants must be currently enrolled in an undergraduate or graduate degree program at an accredited university and returning to continue studies after the internship. Interns receive a syllabus or research project plan outlining their projects and goals for the internship. Interns are assigned a supervisor or mentor to guide them through their internship, and regular check-in meetings with their manager to manage performance expectations and assist with learning goals. Interns have access to a wide range of training programs and events for professional development purposes.

About the Team

The Financial Accounting Policy and Reporting (AP&R) team, a section within the Board of Governors’ division of Reserve Bank Operations and Payment Systems, supports the Board and the Federal Reserve System in meeting its responsibilities to provide Reserve Bank financial information to the public and to ensure the proper collateralization of Federal Reserve notes. In particular, the AP&R team is responsible for the production of periodic and ad hoc Reserve Bank financial reports to the public, including quarterly unaudited and the annual audited combined Reserve Bank financial statements and are subject matter experts on the underlying accounting policy that supports the financial statements.  

About the Role

This is a summer internship (40 hrs/wk), concluding in August 2024. A combination of on-site and hybrid presence is expected. The intern will join the AP&R team to support the group’s key projects, including:

• Testing financial information system implementation and enhancements 

• Applying the COSO (Committee of Sponsoring Organizations of the Treadway Commission) internal control framework 

• Performing routine financial reporting

• Updating the financial accounting manual 

Competencies and Learning Objectives: career and self-development, communication, critical thinking, integrity & professionalism, leadership, teamwork, technology.

Qualifications

• Must be a currently enrolled undergraduate or graduate student, graduating no earlier than August 2024.
• US Citizenship required

Suggested Academic Degree Program: Accounting or Finance, Business Analytics

Required Skills and Knowledge: Strong communication skills (written and oral), MS Office Suite including Teams and Excel

Preferred Skills: Prior professional experience, particularly in a hybrid work structure is a plus. Exposure to Microsoft Business Intelligence is also a plus.

Required Application Materials: Attach a resume, cover letter, and unofficial transcript. 

• Expected Start Date: May 2024
• Expected Schedule: 40 hours/week during the summer
• This role is located in Washington, DC. and the intern must reside in the area during their internship and a minimum of six in-person days per month is required.