Summer 2027 Intern - Undergraduate Internal Audit Majors

Federal Reserve Bank of New York; Chicago (IL); On-site; USD 28,000 - 45,000; Full time

Job summary

The Federal Reserve Bank of Chicago is offering a paid Summer Intern Program for undergraduate, graduate, and doctoral students. The internship runs 10–12 weeks, 40 hours per week, onsite in Chicago, beginning in early June, with project-based assignments and professional development.

Interns will gain insights into the Federal Reserve System, work within a department, and interact with Bank leadership and fellow interns in a collaborative, inclusive environment.

Qualifications

• U.S. Citizen or Permanent Residency required.
• Current student in an accredited program, graduating December 2027 or later.
• 2.75 GPA or higher (unofficial transcripts may be requested).
• Ability to work 40 hours per week for 10–12 weeks onsite.

Responsibilities

• Support project-based assignments throughout the internship.
• Collaborate with department staff and Bank leadership on key tasks.
• Engage in professional development activities during the program.

Skills

Interpersonal skills

Communication

Public speaking

Data interpretation

Attention to detail

Self-motivation

Team player

Independent worker

Tools

Word

Excel

Job description

Company Federal Reserve Bank of Chicago

The Federal Reserve Bank of Chicago is recognized as one of the most influential, trusted and prestigious financial institutions in the world. We serve the Seventh District encompassing Iowa and most of Illinois, Indiana, Michigan, and Wisconsin, and is one of the 12 regional Reserve Banks in the United States. Together with the Board of Governors in Washington, D.C., the 12 Banks constitute the nation’s central bank.

INTERNSHIP PROGRAM DETAILS:

The Federal Reserve Bank of Chicago Summer Intern Program is a paid internship designed to give undergraduate, graduate, and doctoral students direct exposure to our Bank’s operations. Beginning in early June, interns commit to 40 hours a week for 10-12 consecutive weeks onsite. What makes this internship unique: This internship gives you the opportunity to work for a regulatory bank dedicated to the public good by engaging in project-based assignments and professional development activities aligned with our mission. You will gain insights into the Federal Reserve System while contributing to your assigned department and build relationships with subject matters experts, Bank leadership, and fellow interns. You will work in a collaborative environment that fosters inclusion, reflecting all the communities we serve.

REQUIREMENTS:

U.S. Citizen or Permanent Residency Must be a current, matriculated student in an accredited program graduating December 2027 or later 2.75 GPA (unofficial transcripts might be asked to submit) Ability to work 40 hours week throughout the duration of the 10–12-week internship program.

PREFERRED SKILLS:

Intermediate working knowledge of Word and Excel Strong interpersonal and communication skills Ability to verbally present information and respond to questions from small to medium groups Ability to interpret data and analytics to develop insights, tell stories, support the decision-making process, and measure impact Detail-oriented and self-motivated Ability to interact with internal and external clients professionally in a fast paced, high-energy environment Ability to be an independent worker with a team player attitude.

OTHER THINGS TO KNOW:

Salary Range: The anticipated hourly compensation range for this internship is $20 to $33, with the specific rate offered determined by the candidate's academic level.

ADDITIONAL REQUIREMENTS:

Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future. This position may require additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well. As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. 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, who can provide you contact information for our ethics official if necessary.

This document indicates the general nature and level of work performed by employees within this position. It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee's responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Chicago reserves the right to modify the elements of this job description, as business needs require.

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status.

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.