As you prepare to graduate, there is no doubt that you are facing important decisions. What kind of company do you want to work for? Which industry best suits you? An internship is a great way to test the waters!  In fact, internships can provide you with valuable knowledge that you can apply in the future, such as learning about an industry, building a network, or working in a team environment. And an internship can help you get an edge in the job market!

The Federal Reserve Bank of Boston’s Internship Program has been a great success for over 30 years.  We anticipate that the 2008 Summer Internship Program will be no different!  It runs from June 2, 2008 to August 22, 2008.  Positions are full time and are offered in a variety of professions within the Bank.

Internships are available in many departments, including:

Audit
Central Accounting Technology Services (CATS)
Economic Research*
Human Resources
Legal*
New England Public Policy Center*
Wholesale Payments

Other internships may be available in the Financial Support; Information Technology; and Supervision, Regulation and Credit departments.

* Please see the additional instructions to apply for internships in these departments.

Eligibility | Benefits

Eligibility

We look for candidates who successfully manage strong academics with extracurricular activities. In addition, we look for individuals with the following skills:

• Strong verbal, written and interpersonal communication skills
• Analytical skills
• Detail orientation
• Ability to work in a team-based environment
• Competency in Microsoft Office
• Professionalism, dependability, integrity

Applicants for the program must have completed their sophomore year of studies. Graduate students pursuing MBAs with Finance and Accounting concentrations are particularly encouraged to apply as are those with an Information Systems curriculum. It is imperative that students include their current cumulative GPA (3.2 and above), year of graduation, and course of study.

Students who are in their second year of law school and possess strong research and writing skills are invited to apply for internships in the Legal Department.

Benefits

Professional Development
As an intern, you will support the day-to-day operations of a project or department. Interns are given “real work” that will give you a realistic sense of the work involved in a particular area or position. You will experience real-world challenges that go beyond what you have learned in the classroom.

You will meet and team with all sorts of people – some like you and some quite different. In addition to on-the-job learning, you will also have the opportunity to participate in career-development related classroom training opportunities and utilize a comprehensive library of over 1,700 on-line training courses to strengthen your professional skills and knowledge.

Your work will be measurable and realistic, and will allow you to stretch your abilities. To give you practice interacting with managers and demonstrating your business acumen, you’ll present a summary of your project work to managers and the other interns at the end of the program.

Guidance
At the beginning of the summer, managers assist you in developing a performance plan to establish goals and objectives. These plans are reviewed during your end-of-summer performance evaluation.

Networking
You will have the opportunity to meet and interact with members of the management team at a variety of meetings and receptions. In addition, social activities are offered for networking with fellow interns.

Compensation
Undergraduates:

Sophomores: $13.80 hourly
Juniors and Seniors: $18.10 hourly

 

Graduate students: $21.80 hourly

Extras
We are located right across the street from South Station, and other public transportation is easily accessible.

We have an onsite Fitness Center that is free of charge during your employment.

As an employee, you will receive a discount at the onsite cafeteria and dining room.

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The deadline for applications has passed.

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Departments Offering Internships for Summer 2008

Audit
Internal Audit provides an independent and objective assessment of the controls over the reliability of financial reporting, the effectiveness and efficiency of operations, and compliance with policies, procedures, laws, and regulations. Internal Audit supports the accomplishment of Bank objectives through a systematic, disciplined approach to evaluating the effectiveness of risk management, control, and governance processes; and recommending improvements to Bank operations.  This position requires analytical and problem solving skills.

Central Accounting Technology Services (CATS)
The Central Accounting Technology Services (CATS) department provides software and support services for the accounting operations of all twelve Reserve Banks, supports the accounting needs of their depository institution account holders, and acts as a liaison to other System organizations.  This area seeks someone to help them conduct quality assurance, problem solving, and analysis.

Economic Research
The Bank seeks candidates majoring in economics or mathematics. Statistics, computer science, and finance concentrations are also common. Because quantitative and mathematical skills are essential to our work, we encourage potential applicants to take advanced math and statistics courses in addition to their coursework in economics. Each year, the Research Department of the Federal Reserve Bank of Boston offers a limited number of summer and academic-year internships to qualified college students. The deadline for summer internships in the Research Department has passed, but the Department offers academic-year internships.

Human Resources
The Human Resources Department serves both Bank management and Bank employees by providing support and services in many areas including but not limited to: employment/staffing, benefits, payroll, compensation, and training and development.  A human resources intern will provide administrative and analytical support as needed throughout the department. 

Legal
Summer legal interns conduct extensive legal research and prepare comprehensive legal memoranda on a series of subjects related to general corporate law matters, including the following areas of law:  immigration, employment, intellectual property, tax, banking, and corporate leasing.

Students who are in their second year of law school and possess strong research and writing skills are invited to apply.  The summer position will start at the end of May and end in mid-August.  The deadline for applications has passed.

New England Public Policy Center
The New England Public Policy Center is dedicated to enhancing access to high-quality analysis on economic and public policy issues that affect the region. Through their research, special events, and outreach, they provide high-quality, objective analysis about policy issues facing New England.  Previous interns in this role have conducted literature reviews, obtained and analyzed data, helped with fact-checking, drafting internal memos on policy topics of interest, and updating contact databases. Find out more information, including instructions for applying.

Wholesale Payments
Wholesale Payments facilitates timely and accurate funds and securities transfers to customers throughout the nation. They provide high quality customer support, business resumption testing, and contingency services for the depository institutions and Federal Reserve business partners that they serve. This area is looking for someone with experience in creating & developing databases to meet operational needs and tracking & reporting requirements.  This person may also conduct business resumption testing and training.

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