My specific position in the Summer Financial Analyst Program at Wells Fargo last summer was within the Financial Institutions Group. That means I was working with banks and financial institutions, both within the US and outside in other countries. My day-to-day job required going through the annual reports, financials, and the economic status of different banks and countries in order to complete full credit reports and assess risk.
My role as a summer financial analyst consisted of evaluating the credit-worthiness of small and medium sized businesses through financial statement research to determine if we wanted to loan them money. That is a very high level explanation of it, but sums it up pretty well. I spent most of my days looking over income statements, balance sheets, and cash flows to highlights positive and negative trends to evaluate the overall financial health of our current and prospective clients.