2016 Program Dates: May 16, 2016 – July 29, 2016 or June 13, 2016 – August 26, 2016
We will accept applications: September 15, 2015 - December 2, 2015 and December 3, 2015 - February 5, 2016
The FDIC's Financial Management Scholars Program is a 10-week paid summer internship program. It provides highly-qualified college students majoring in economics, business administration, finance, accounting, or a related field with an opportunity for hands-on experience evaluating bank operations, business planning, risk management strategies, and consumer protection practices.
Program participants attend a one-week orientation session in Washington, DC, followed by eight weeks on-the-job working out of one of the FDIC's field offices. Scholars will 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. During the last week of the program, participants will return to Washington, DC, to share their experiences and participate in a skills assessment process. At the end of the program, some of the program participants may be offered full-time [post-graduation] positions as Financial Institution Specialists under the Corporate University's Corporate Employee Program (CEP).
The FDIC seeks applicants with strong analytical and quantitative skills, knowledge of the basic principles of accounting and finance; the ability to communicate effectively both verbally and in writing, the ability to work both independently and in teams, and an interest in public service.
In addition to the regular benefits offered by Federal agencies, the FDIC offers additional benefits to its employees on a full-time work schedule. These benefits, some at minimal cost, are some of the best and most competitive in both the private and public sectors.
Extensive 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 may not be available).
Scholars will also be responsible for providing their own housing, but will receive a $2500 stipend (in addition to bi-weekly compensation) at the beginning of the program.
If selected, Scholars will be required to serve a trial period.
- 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, or related field, an overall Grade Point Average of 3.25, and a planned graduation date in December 2014 or later.
- Successful completion of the FDIC’s background investigation requirements.
- Must be registered with Selective Service (males born after Dec 31, 1959).
All interns are required to sign the FDIC Internship Program Participant Agreement.
Moderate Risk Position--Minimum Background Investigation (MBI) Required.