About the Team

The successful candidate works alongside economists within the Division of Supervision Regulation (SR). More specifically, the PhD intern will work with our Policy Research and Analytics group. Economists in this group support related policy work while conducting research on a range of research areas, including but not limited to the economics of financial intermediation by banks and non-banks, and the implications on bank supervision and regulation, financial stability, and real economic activity.

Policy Research and Analytics is responsible for policymaking surrounding banks’ trading, credit, and operational risk models, researching the economic impacts of regulatory policies, and analyzing information on banks’ internal risk limits as part of Volcker rule compliance.

About the Role

This internship within SR provides graduate Ph.D. students the opportunity to collaborate with research economists and policymakers, conduct research towards their dissertation and contribute to the mission of the Board. This posting is for a position with the Policy Research and Analytics (PRA) group within SR.

While at the Board, Ph.D. interns will:

Primarily focuson researching a topic of their own choosing, furthering dissertation research begun before the internship.Strengthen their oral presentation skills through hosting and presenting 1-2 seminars on their work.Build institutional knowledge and technical skills by engaging in policy work related to their interests.Work with confidential regulatory data collected within the division, if approved.Develop relationships and collaborate with Board economists, through which they will receive feedback on their work.Learn about preparing for the job market.Participate in our extensive seminar series.

Desired Degree Program or Coursework: Must be enrolled in an accredited graduate level program pursuing a Ph.D. in Economics, Finance, or a related field of study with a minimum 3.0 GPA. Preference is given to students at an advanced stage of writing their dissertation.

Preferred Research Interests

BankingBanking RegulationCorporate FinanceFinancial Risk ManagementFinancial Intermediation

Required Documents for Application

CV or ResumeCover Letter (Please describe why you are interested in this position as well as whether you have any specific project in mind)Work from Thesis (e.g., current drafts, research proposal, presentation slides)Unofficial Graduate Program TranscriptContact Information (Name, Email, Phone Number) for Two Potential Letters of Recommendation

Notes

The deadline for submitting your application is Sunday, November 30th at 11:59pm ET.Anticipated Start Date Term: Spring/Summer 2026, term up to 180 days from start date - exact start date is flexible.U.S Citizenship is requiredfor all Board internships and applicantsmust be current students, graduating from their program Spring 2028 or later.

About the Team

The Large and Foreign Banking Organizations Firm Oversight section is responsible for coordinating risk-focused, forward-looking supervision of non-LISCC domestic banking organizations with $50 billion or more in total assets, and non-LISCC foreign banking organizations regardless of size. As such, the section oversees the effective execution of the Large Banking Organization and Foreign Banking Organization supervisory programs by the district Reserve Banks.

About the Role

In support of the Firm Oversight section, the intern’s responsibilities include data gathering of activities related to bank holding companies, commercial banks, and foreign banking organizations. In connection with the data gathering responsibility, the intern, working closely with Board Financial Institution Analysts, will review and analyze data and make recommendations in support of supervisory decisions and/or policy matters.

The intern will participate in special studies and projects relating to financial institution supervision and regulation and will assist section staff in the analysis of existing programs, policies, procedures, and applications and contribute to efforts to revise processes impacting the Federal Reserve's supervision of domestic and foreign banking organizations.

The intern may assist staff in preparation of charts, tables, and briefing material used by Division management in making presentations at Board/System meetings.

Suggested Major/Minor: Enrolled in a graduate level degree program in finance, accounting, business administration, public policy, economics, or another related field

Required Skills/Experience:

Strong analytical and research skills

Effective oral and written communication skills

Proficient in MS Office Suite and SharePoint applications

Experience or interest in banking or bank supervision and regulation

Notes:

US Citizenship is requiredfor all Board internships and applicants must becurrent students, graduating from their programSpring 2026 or later.Anticipated Work Environment:This internship must be completed in-person in Washington, DC.Anticipated Work Hours:Candidates must be able to work at a minimum of 20 hours per week during the school year, 40 hours per week during the summerAnticipated Internship Start Date:January 2025- the selected candidate will be able to work up to 180 days from their start date.