SCS - Statistics and Analysis 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

Federal Reserve Bank of Cleveland is seeking innovative thinkers for a Statistics & Analysis Intern role at our Cleveland, OH location. You will contribute to data management projects, QA regulatory filings, and engage with financial institutions on reporting requirements.

The role emphasizes automation, analytics, and professional development through mentorship and hands-on experience. Applicants should be pursuing an undergraduate or graduate degree in Finance, Economics, Business Analytics,

Qualifications

• Undergraduate or graduate student in Finance, Economics, Business Analytics, Data Science or related field with a minimum GPA of 3.0.
• At least one semester remaining in school.
• Strong computer/technical skills and proficiency with Microsoft Excel.
• Proficiency with SQL or AI/ML is a plus.
• Ability to work in a deadline-driven environment and multitask.
• Team-oriented and able to work independently.
• Strong oral and written communication skills.

Responsibilities

• Develop understanding of the Statistics Function’s mission and focus areas, including automation and data management.
• Conduct quality assurance on regulatory filings to ensure data quality for stakeholders.
• Conduct outreach and guidance to financial institutions on regulations and reporting.
• Assist teams in identifying process improvements and implementing analytical solutions using emerging technologies.
• Engage in leadership and career development activities for future growth.

Skills

Strong computer/technical skills

Oral and written communication

Deadline-driven

Teamwork and independent work

Education

Finance

Economics

Business Analytics

Data Science

Tools

Excel

SQL

AI/ML

Job description

Company Federal Reserve Bank of Cleveland 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.

To be considered for this role, candidates must be a U.S. citizen, permanent resident, or green card holder. Take your skills to the next level and gain valuable experience contributing to work within Statistics & Analysis.

Statistics & Analysis is a national business line that provides a range of data management services to support the use and interpretation of information by decisionmakers, including the Federal Reserve, Federal Financial Institutions Examination Council (FFIEC), and the US Treasury.

Statistics & Analysis (S&A) Intern Responsibilities

• Develop understanding of the Statistics Function’s mission to collect financial, banking, structure and contextual information; and, the business line’s strategic areas of focus, including automation and data management initiatives.
• Conduct quality assurance on regulatory filings, ensuring data is fit for purpose for stakeholders including Supervision, Monetary Policy and Research.
• Conduct outreach and provide guidance to financial institutions regarding Federal Reserve regulations and reporting instructions to enhance respondent’s understanding of regulatory reporting requirements.
• Help teams identify business process improvements, efficiencies and design and/or implement analytical solutions leveraging emerging technologies (Artificial Intelligence/Machine Learning (AI/ML)).
• Engage in leadership and career development activities for your future.

Requirements for S&A Internships

• Currentlypursuing an undergraduate or graduate degree in Finance, Economics, Business Analytics, 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 computer/technical skills required.
• Proficiency with Microsoft Office products, specifically Excel.
• Proficiency with SQL or AI/ML is a plus).
• Ability to work in a deadline driven environment and ability to multitask.
• Ability to work both in a group setting and on an individual basis.
• Strong oral and written communication skills.

What We Offer

• Hands-On Experience: Gain practical experience and insights into the operations field 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.

Internship Details

Our 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.

Our 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.

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]

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

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.