SCS - Advanced Analytics Intern - 2027

Federal Reserve Bank of New York; Cleveland (OH); On-site; USD 28,000 - 36,000; Full time

Benefits offered by this job

Hands‑On Experience

Mentorship

Networking opportunities

Professional development

Job summary

The Federal Reserve Bank of Cleveland is offering an internship with the Advanced Analytics team in Supervision and Regulation. You will work 40 hours per week for 10–12 weeks, starting as early as June and ending in September, at our Cleveland, Ohio location.

The role focuses on building models, visualizations, and analyses to monitor risk in the financial system. We seek undergrad or grad students with experience in Python/R, large data sets, and version control.

Qualifications

• Currently pursuing an undergraduate or graduate degree with minimum GPA 3.0.
• Experience with large data sets and statistical programming (Python and/or R).
• Familiarity with version control (git) and data processing tools (SQL, Spark) a plus.

Responsibilities

• Assist with building and testing predictive models using econometric, ML, and data mining techniques.
• Prepare preliminary data visualizations and contribute to analytical findings.
• Assist with analytic projects through development stages and reporting of results.
• Engage with subject matter experts on AI-related projects.
• Participate in weekly team standups and PI planning.
• Engage in leadership and career development activities.

Skills

Python

R

SQL

Spark

Git

Data visualization

Communication

Education

Undergraduate or graduate degree in Finance, Economics, Data Science or related field

Tools

Git

SQL

Spark

Job description

Company

The Federal Reserve Bank of Cleveland is part of the nation’s central bank. We’ve provided many opportunities for professional growth during our history. For twenty-seven years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications. Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

Internship Overview

The Advanced Analytics team within Supervision and Regulation is a team of data scientists that researches, develops, deploys, and maintains models and tools that monitor risk across the Fourth District and nationwide to promote a safe and sound financial system.

Intern Duties

• Assisting with building and testing predictive models using econometric, machine learning, and data mining techniques.
• Preparing preliminary data visualizations and contributing to analytical findings using a variety of methods to promote understanding of key insights and actionable takeaways.
• Assisting with analytic projects through various stages of development, such as formulating concepts; developing and executing analysis plans; implementing and deploying models and tools; and reporting and presenting final research results.
• Engaging with subject matter experts in supervision and related fields to assist with emerging technology/artificial intelligence-related projects.
• Participating in weekly team standups and project increment (PI) planning.
• Engaging in leadership and career development activities for your future.

Requirements

• Currently pursuing an undergraduate or graduate degree in Finance, Economics, Data Science or a related field with a minimum GPA of 3.0. Should have at least one semester left to complete in school.
• Strong technical skills required—specifically, experience working with large data sets and experience with statistical programming (Python and/or R).
• Interest and experience with version control (e.g., git) and data processing tools (e.g., SQL, Spark, etc.) is a plus.
• Basic knowledge and desire to learn about banking and financial markets and their regulation.
• Ability to work both in a group setting and on an individual basis.
• Ability and interest to perform independent research with direction.
• Strong oral and written communication skills.
• Ability to work in a deadline driven environment.

Internship Details

Interns will work onsite at our Cleveland, Ohio location. We’re looking for collaborative and innovative full‑time students entering their sophomore year or beyond. Student interns work 40 hours per week for the duration of a 10‑to‑12‑week internship that starts as early as June and ends as late as September, depending on student schedules and business needs. The expected starting salary range for this position is between $20.50 and $26.00 hourly. Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and market data.

What We Offer

• Hands‑On Experience: Gain practical experience and insights into R&D and operational aspects of data science through real‑world projects and challenges.
• Mentorship: Receive guidance and mentorship from experienced professionals who are committed to your development.
• Networking Opportunities: Build connections within the industry and with fellow interns and employees.
• Professional Development: Participate in workshops, training sessions, and seminars designed to enhance your skills and knowledge.

Citizenship Requirements

This position requires access to confidential supervisory information and/or FOMC information, which is limited to “Protected Individuals” as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non‑U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

Physical Demands and General Working Conditions

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, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time.

Bank’s Ethics Rules and Drug Testing

As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A “depository institution” means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting. In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.

Reasonable Accommodation Statement

The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to [e-mail].

Equal Employment Opportunity

The Federal Reserve Bank of Cleveland’s Equal Employment Opportunity policy outlines the organization’s commitment to providing a work environment that embraces a rainbow of backgrounds. 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.