Internship Engineering Rotational Program Jobs in New York

Please note - you must have a master's or PhD by July 2026. The remaining position will be located with either the Federal Reserve Bank of Cleveland or the Federal Reserve Bank of Richmond (Charlotte, NC).

The Federal Reserve System, with its Supervision and Regulation function, is at the forefront of overseeing the nation's largest and most complex financial institutions. Contributing to Supervision and Regulation's mission to promote a safe, sound, and efficient banking and financial system that supports the growth and stability of the U.S. economy is a unique opportunity that requires highly analytical and quantitative individuals.

We are seeking such individuals to join the Quantitative Fellowship Program (QFP) and perform in-depth and rigorous assessments of the major risks to which banks and other financial entities are exposed. The QFP provides an opportunity to work in an intellectually stimulating and collaborative environment, to engage in meaningful public service, and to interact with senior experts in both the Federal Reserve System and the firms we oversee. The QFP will provide extensive development opportunities to prepare fellows for a successful career in the Federal Reserve System upon completion of the program.

The QFP is a two-year rotational program designed to develop candidates with strong analytical skills into full-time quantitative analysts within the Federal Reserve System. Fellows will have the opportunity to work on-site at multiple Reserve Banks across the Federal Reserve System, including the Board of Governors location in Washington, D.C. They will interact directly with financial institutions, gain valuable cross-firm perspective on modeling challenges, and be involved in helping senior Federal Reserve officials make informed decisions.

The QFP includes a significant training and professional development component. The program provides experience in a variety of quantitative topics such as stress test modeling, analyzing financial institution portfolios, and model risk management and validation. Program participants who successfully complete the two-year rotation will have the potential to be placed in a full-time quantitative role within the Federal Reserve System.

Required Qualifications:

The QFP is seeking a combination of strong quantitative skills, strategic and creative thinking, excellent communication skills, and the ability to quickly adapt to new and changing regulatory and financial industry environments.

• A graduate degree in a quantitative discipline such as economics, engineering, mathematics, quantitative finance, statistics, or data science
• An excellent academic record
• Experience programming in languages such as Matlab, Python, R, SAS, or Stata
• Ability to manage and analyze large data sets
• Experience in developing or validating mathematical or statistical models
• Ability to present technical issues to nontechnical audiences and to clearly articulate findings verbally and in writing
• Willingness to travel throughout the duration of the program
• Meet the Protected Individual requirement. See Note 1.

Notes:

1. This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of "protected individual" under 8 U.S.C. 1324b(a)(3), and certain other nonimmigrants. Candidates who are not U.S. citizens must sign a declaration of intent to expeditiously become a U.S. citizen when eligible.

2. Compensation and benefits may vary by home-base location. While we try to accommodate requests, preferred home-base location is not guaranteed.

The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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