Intern Economic Research

Company
Federal Reserve Bank of Chicago
Who we are:
One of the most influential, trusted and prestigious financial institutions in the world. The Federal Reserve Bank of Chicago, serving five states, is one of the 12 regional reserve banks in the United States. The twelve banks along with the Board of Governors in Washington, D.C., make up the nation's central bank.
What makes us unique? We are a regulatory bank. This internship gives you the opportunity to intern for a bank that supervises other banks.
Internship Program Details:
The Federal Reserve Bank of Chicago Summer Intern Program is a paid internship that is open to undergraduate, graduate and PHD students. It begins in June and continues for 12 consecutive weeks. Interns work 40 hours per week and are assigned to one department.
*Students who are currently taking a gap year or gap semester due to the COVID-19 pandemic remain eligible for this program.
Typical Day:
Project oriented hands-on assignments and professional development activities including a volunteer project. Interns receive a solid overview of the Fed while contributing to their designated Bank department.
Culture:
We have a collaborative work environment that fosters inclusion. As a public service institution, we reflect all the communities we serve. Interns will have the opportunities to network with subject matters experts and interns assigned to other business areas.
Application Process:

• October 2022 and onward - applications
• Mid November 2022 and onward - Interviews
• December 2022- offers accepted
• June 5, 2023 or June 12, 2023 - Start dates

Job Summary:
The Economic Research Department conducts statistical and economic analyses of current macroeconomic, microeconomic, financial and regional data, and provides research support for the economists in their academic research and policy work.
Job Responsibilities:

• Support the economists in their basic and applied research which includes collecting data, conducting moderately complex statistical analysis, writing code for model estimation and organizing the presentation of results
• Assist economists with their research and analysis of public policy issues and events
• Prepare a variety of charts, tables and descriptive text for staff economists and department management

Job Requirements:

• Currently pursuing a Bachelor's degree
• Evidence of aptitude for quantitative and analytical skills
• Some exposure to data/programming
• Interest in Economics/Finance

*
Additional Requirements:

• All Federal Reserve Bank of Chicago employees must be fully vaccinated against COVID-19, and receive a booster shot within 30 days of being eligible to do so, unless the Bank grants an accommodation based on medical condition or sincerely held religious belief.

• Some of these positions may require the Supervision and Regulations specific requirements explained below. Applicants must be US Citizens or permanent residents with the intent to become US Citizens.
• 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.

Other Requirements and Physical Requirements
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
Work Shift
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. 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.
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