2027 Summer Intern - Audit Group - Junior Intern

Federal Reserve Bank of New York; New York (NY); On-site; USD 155,000 - 174,000; Full time

Job summary

The Federal Reserve Bank of New York invites undergraduates to join its Audit Internship (Junior) program. You will engage in planning, controls testing, and audit meetings, while collaborating with the Data Analytics team to analyze information and drive insights.

Mentorship and structured learning accompany hands-on experience in auditing and risk practices. This 10-week, full-time internship offers exposure to risk management, internal controls, and public service within a prestigious

Qualifications

• Knowledge of risk management principles.
• Ability to review financial and IT risks and controls within business processes.
• Experience executing audit procedures and testing for control compliance.
• Strong analytical skills to describe processes, identify strengths/weaknesses, and suggest improvements.
• Ability to work independently and collaboratively in a team environment.
• Excellent written and interpersonal communication skills.

Responsibilities

• Plan, perform controls testing, attend and minute audit meetings with clients, and report findings.
• Collaborate with Internal Audit’s Data Analytics team to analyze and present audit information.
• Support special projects by researching and organizing information.
• Participate in department team events to share insights and learn from colleagues.

Skills

Risk management principles

Audit procedures

Analytical thinking

Independent worker

Interpersonal skills

Written communication

Education

Undergraduate student

Tools

Microsoft Office Suite

Job description

Company Federal Reserve Bank of New York

When you work at the New York Fed, you have the opportunity to make an impact in our communities and across the nation. Our mission-driven, curious, and dedicated colleagues apply their diverse perspectives and unique talents to support the strength of the U.S. economy and stability of the global financial system. At the Bank, we work full-time onsite with our teams. We believe being physically together allows us to draw on our collective strengths, while recognizing that the ability to work flexibly from time to time remains important to achieving our mission.

Program Description

Program Description: The Undergraduate Summer Analyst Program gives undergraduate juniors the opportunity to gain valuable work experience at a unique institution. Through dynamic, project-based work assignments and professional development activities, students get:

• A cohort-based learning model with a strong sense of community
• Real-world experience that helps them build strong skills and knowledge in their area of interest
• The chance to contribute to meaningful work that makes an impact on the lives of all Americans
• Opportunities to meet, network with, and work alongside our mission-driven, curious colleagues—all of whom are happy to share their experiences and advice
• An experienced professional mentor to support them throughout the program
• Access to learning events with senior leaders from the New York Feds, giving them direct insight into the public service and financial services world
• Junior interns work in one specific business area or function for ten weeks, and have access to opportunities for collaboration with other students and employees from around the Bank.
• At the end of the program, students leave with strong skills, professional connections, and meaningful experiences that will support them in their long-term careers.

Our Unique Work

The primary purpose of the Federal Reserve Bank of New York's Audit Group (Internal Audit) is to assist the Board of Directors in the effective execution of its responsibilities for the Bank and the Federal Reserve System. Internal Audit accomplishes its purpose by providing independent, risk-based assurance and insight that strengthens the Federal Reserve System’s ability to fulfill its mission and maintain public trust.

How You’ll Make an Impact as an Audit Intern (Junior)

• Planning, controls testing, attending and minuting audit meetings with clients, and reporting
• Where applicable, work with Internal Audit’s Data Analytics team to analyze and present audit information
• Support special projects by conducting research and organizing information
• Participate in team events with the department

The Unique Skill Sets We’re Looking For

• Knowledge of risk management principles
• Risk-focused perspective, with the ability to understand and review financial and/or information technology risks and controls within business processes
• Ability to execute audit procedures and testing for control compliance
• Good analytical skills, including ability to analyze business and financial activities, understand and describe process flows, strengths and weaknesses, and develop suggestions to improve efficiency and effectiveness
• Ability to work independently, cooperatively in a team environment and build collaborative relationships
• Excellent interpersonal and written communication skills are necessary
• Demonstrated working knowledge of Microsoft Office Suite with demonstrated ability to develop and apply spreadsheets, database and research tools and graphic presentation

Expected graduation between Winter 2027 Spring 2028

Salary Range: Your regular wages for the 10 weeks will be paid on a semi-monthly basis and will be calculated based on an annual salary of $72,100. We believe in transparency at the New York Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.

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. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.

Our culture is deeply grounded in our Touchstone Behaviors. By working with us, you’ll have the opportunity to develop and demonstrate your ability to Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership. These competencies shape our culture here at the Bank. They also provide a shared language for how we work together and achieve success, and set clear expectations for leading with impact at every stage of your career.

Learn more.

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at [e-mail] and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

Full Time / Part Time Full time Regular / Temporary Temporary Job Exempt (Yes / No) No Job Category Internship Family Group Work Shift First (United States of America)

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.

Privacy Notice

OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.

OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.

Why Our People Choose Us

Our reputation precedes us

There will always be room for personal growth

Our people are first

You’ll find the right balance

Your responsibilities will be meaningful

We hope that you will be our future colleague.