Payments Improvement Intern

Company
Federal Reserve Bank of Chicago
Location: Remote (hybrid if in Boston, Chicago, or Minneapolis)
Intended Majors: 3rd or 4th year Undergraduate or Graduate student; Business, Finance, Economics, Policy
Business Unit Description:
The Payments Improvement Function works to facilitate material, end-to-end advances in the U.S. payment system that promote integrity, efficiency, and accessibility. The group supports progress toward Federal Reserve stated desired outcomes for the payments system through thought leadership, strategic support, and collaborative work with industry, and supporting Federal Reserve System understanding of, and integrated action related to, payments improvements and future developments in payments.
Job Description:
- Supporting the research, drafting, and socialization of the group's 2023 industry landscape assessment. Duties to include researching emerging topics, drafting write ups, editing reports.
- Supporting industry working group facilitation. Duties to include creating decks, drafting write ups, supporting industry meeting agenda development)
- Supporting project teams as they develop and finalize plans for a consumer fraud education campaign, and work to understand financial inclusion issues. Duties to include note taking, project plan development and tracking, slide deck creation, content drafting
- Supporting internal discussions focused on learning about emerging payment topics. Duties to include note taking, summary write ups of discussions.
- Strong written and communication, research, Microsoft Excel and project management skills
- Other support duties as defined to assist project teams in their work, and support the development of operational processes to support the payments improvement team's ongoing program and project management.
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.
Location: Remote (hybrid if in Boston, Chicago, or Minneapolis)
Intended Majors: 3rd or 4th year Undergraduate or Graduate student; Business, Finance, Economics, Policy
Business Unit Description:
The Payments Improvement Function works to facilitate material, end-to-end advances in the U.S. payment system that promote integrity, efficiency, and accessibility. The group supports progress toward Federal Reserve stated desired outcomes for the payments system through thought leadership, strategic support, and collaborative work with industry, and supporting Federal Reserve System understanding of, and integrated action related to, payments improvements and future developments in payments.
Job Description:

• Supporting the research, drafting, and socialization of the group's 2023 industry landscape assessment. Duties to include researching emerging topics, drafting write ups, editing reports.
• Supporting industry working group facilitation. Duties to include creating decks, drafting write ups, supporting industry meeting agenda development)
• Supporting project teams as they develop and finalize plans for a consumer fraud education campaign, and work to understand financial inclusion issues. Duties to include note taking, project plan development and tracking, slide deck creation, content drafting
• Supporting internal discussions focused on learning about emerging payment topics. Duties to include note taking, summary write ups of discussions.
• Strong written and communication, research, Microsoft Excel and project management skills
• Other support duties as defined to assist project teams in their work, and support the development of operational processes to support the payments improvement team's ongoing program and project management.

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:

• September and onward - applications
• Mid October and onward - Interviews
• January - offers accepted
• June 5, 2023 or June 12, 2023 - Start dates

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.
Additional Requirements:
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.
Other 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.
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.
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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