Our People Make the Difference
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 ten 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.
At our state-of-the-art Cleveland Office we are seeking innovative thinkers with vision to build the framework that will carry the Bank into the future. Join our team!
Summer 2010 Intern – Credit Risk Management
The primary objectives of the Credit Risk Management department include maintaining a stable monetary system, providing information and support to our account holders, and using account and other controls to mitigate risk to the Reserve Bank. The Federal Reserve Bank of Cleveland's Credit Risk Management consists of the Discount Window and the Account and Reserves Management operations. The intern in this department will assist with both operational and strategic objectives.
Responsibilities:
1. Provide day to day operational coverage for the Discount Window, Payments System Risk, Condition Monitoring, and collateral functions.
2. Assist with the implementation of changes in Credit Risk Management, either local operations or System related policy changes.
3. Process as of adjustments.
4. Administration of daylight, overnight or Discount Window credit, interest on reserves, eligibility and/or acceptability of collateral pledged to the Federal Reserve (securities and/or loan portfolios), and development of ad hoc management information reports.
5. Assist with modifications in the Condition Monitoring program, the Borrower in Custody program and other collateral related policies.
6. Assist on an onsite bank examination and/or collateral review.
7. Participate in Bank Internship Expo, creating and presenting a display containing information about the internship experience
Requirements:
1. Working towards Bachelor's degree in Finance or Accounting.
2. Ability to work both in a group setting and on an individual basis.
3. Ability to manage multiple projects simultaneously.
4. Solid oral and written communication skills.
5. Proficiency with Microsoft office products, specifically Excel and Access (or familiarity with other data access tools) preferred.
PLEASE NOTE: This position requires access to confidential supervisory information, access to which is limited to "Protected Individuals" as defined by regulation of the Board of Governors of the Federal Reserve System. Protected Individuals include, but are not limited to, U.S. Citizens, U.S. Nationals, and lawful permanent resident aliens (also known as "green card holders") but do not include (i) a permanent resident alien who fails to apply for naturalization within six months of the date the alien first becomes eligible to apply for naturalization and (ii) an alien who has applied on a timely basis, but has not been naturalized as a citizen within 2 years after the date of the application, unless the alien can establish that the alien is actively pursuing naturalization. If you are selected for an interview, you will be required to present documentation of your eligibility prior to the interview.