Internships by Department
Cash Operations
The Bank's Cash Operations Department offers cash services to customers within the Fourth District. Services include the ability to order and deposit currency and coin. We seek students majoring in business administration, IT, MIS, or computer science
Intern Accountabilities
- Provide administrative, analytical, and project coordination support
- Coordinate various automated-related projects
- Provide operational-related analysis and recommendations to management in the decision-making process
- Work with Microsoft Access and Excel
Please click here to learn about the summer experience of the intern in Cash Operations.
Community Development
The Community Development Department supports community reinvestment, fair lending, and economic development activities throughout the region. It seeks to identify best practices, build partnerships, and provide training and technical assistance to community development practitioners. We seek students majoring public policy, public administration, and research.
Intern Accountabilities
- Collect community data and research then analyze the findings
- Compile documents and support department publications and programs
- Use Microsoft Excel and other statistical packages (Stata, SAS, etc.)
Please click here to learn about the summer experience of the intern in Community Development.
Credit Risk Management
The Credit Risk Management Department monitors and counsels institutions on payment systems risk and Reserve activities, functions as a discount window to complement open-market operations', and facilitates the balance-sheet adjustments of individual banks that face temporary, unforeseen changes in their asset and liability structure. We seek students majoring in accounting, finance, or business.
Intern Accountabilities
- Work on collateral valuation, as-of adjustments, and special projects
- Work with Microsoft Word and Excel
Please click here to learn about the summer experience of the intern in Credit Risk Management.
eGovernment Operations
The eGovernment Department supports two major Treasury applications and a priced-service application, including new electronic collection methods that facilitate the ability of agencies to conduct transactions online. The department also assists federal agencies in converting forms into documents, meeting their requirements under the Government Paperwork Elimination Act, and meeting the increasing demands for electronic solutions. We seek students majoring in IT, MIS, or computer science.
Intern Accountabilities
- Design, develop, and maintain programming software features
- Test software changes in accordance with department and generally accepted standards
- Provide input on team-based solutions, design, and problem-solving activities
- Programming using Java
Please click here to learn about the summer experience of the intern in eGovernment Operations.
Financial Support Services
Financial Support Services provides services such as strategy, finance, and risk management; expense accounting; contracts and purchasing; and national billing. We seek students majoring in accounting, finance, or business.
Intern Accountabilities
- Function as a budget analyst
- Balance expense and balance sheet accounts
- Write journal entries
- Do ad hoc reporting
- Work with Microsoft Word and Excel
Please click here to learn about the summer experience of the intern in Financial Support Services.
Human Resources
The Human Resources department builds alliances with departments to attract and retain talented employees by promoting a positive, quality-minded business culture, maintaining progressive compensation and benefit programs, delivering strategic employee development opportunities, and acting as a consultant on employee relations issues. We seek students majoring in Human Resources Management, Organization Development or a closely related field.
Intern Accountabilities
- Provide support and complete assignments in the areas of compensation, recruitment, and learning and development.
- Provide analytic support to varied stakeholders and projects
- Assist with execution of the Bank’s summer internship program
Please click here to learn about the summer experience of the intern in Human Resources.
Information Systems Support
The Information Systems Support function provides information technology and business systems support for the Credit Risk Management, Statistics and Analysis, and Supervision and Regulation department’s information systems and initiatives. We seek students majoring computer science or a closely related field.
Intern Accountabilities
- Analyze current business processes and streamline them through the use of technology.
- Work closely with internal customers and IT experts to develop technology solutions to meet business needs.
- Modify and create new MS Access databases
Please click here to learn about the summer experience of the intern in Information Systems Support.
ITS End User Support
The function of ITS is to foster an environment in which information and technology are used to support and enhance the Bank's and the Federal Reserve System’s business decisions, customer service, and operations. IT will work with the business functions to achieve optimal strategic. ITS End User Support seeks students majoring in computer science or a closely related field.
Intern Accountabilities
- Fix PC hardware and software problems by providing timely and accurate problem resolution for the Bank's PC user community to maintain productivity and business continuity
- Assist in special projects by performing research, introducing new technologies, and upgrading existing PC software application versions to increase productivity
- Provide ad-hoc, one-on-one training as appropriate by assisting users with questions and procedures for business continuity, and to increase productivity
Knowledge Management Support Office (KMSO)
The mission of the Knowledge Management Support Office (KMSO) is to develop, deepen and promote superior knowledge management and information sharing practices, capabilities, and techniques which will provide greater productivity and capacity for the Supervision and Regulation (S&R) business line. We seek students majoring in marketing, public relations, communications, or a closely related field.
Intern Accountabilities
- Develops strong understanding of business communication flows and interactions (formal and informal) and design methods to improve the quality and effectiveness of such
- Uses effective communications, marketing, and public relations skills to analyze user base and apply techniques and software functionality to meet and exceed the needs of various groups and forums
- Develops customer oriented, flexible, tailored education and awareness sessions to describe the benefits of informal learning and social networking methods
Please click here to learn about the summer experience of the intern in KMSO.
National Cash Automations
National Cash Automation (NCA), the Cash Product Office's software development and support team, is responsible for maintaining and enhancing the Federal Reserve System's Cash Operations suite of automation solutions. We seek students majoring in business administration, project management, or operations management.
Intern Accountabilities
- Administrative assistance
- Provide operational related analysis
- Provide analytical support through review of various data sources
Office of Minority & Women Inclusion (OMWI)
The Office of Minority and Women Inclusion (OMWI) was established in 2011 to fulfill the requirements of section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The duties of the OMWI include the development and implementation of standards and procedures for the Bank to promote equal employment opportunity, workforce diversity, and increased participation of minority and women owned businesses in Bank programs and contracts. We seek students majoring in social sciences such as psychology, public administration, anthropology, economics, public policy, sociology; business management, human resources.
Intern Accountabilities
- Work with OMWI staff to gather and analyze data
- Participate in outreach efforts to support OMWI objectives
- Bring creativity and innovation to the assigned responsibilities
Please click here to learn about the summer experience of the intern in OMWI.
Research
The Research Department models complex economic systems, analyzes data, and evaluates economic information to support the Federal Reserve Bank of Cleveland's monetary policy, supervisory, and payments system responsibilities. It produces academically respected economic research, monitors and reports on regional and national economic trends, and helps to craft public communications on economic issues. We seek students majoring in economics or math/statistics.
Intern Accountabilities
- Work with economists
- Gather and analyze data
- Participate in daily update of economic trends by reading and summarizing relevant articles
Please click here to learn about the summer experience of the intern in Research.
Statistics and Analysis
The Statistics and Analysis Department collects, analyzes, and distributes financial and structure data to formulate monetary policy, assess conditions of financial institutions, and maintain organizational structure and ownership information for Fourth District financial institutions. We seek students majoring in accounting, finance, or business.
Intern Accountabilities
- Generate specific weekly and monthly reports
- Work with Microsoft Word and Excel
Please click here to learn about the summer experience of the intern in Statistics and Analysis.
Supervision and Regulation
The Supervision and Regulation Department promotes a safe, sound, and competitive banking system and stable financial conditions through quality supervision of state member banks, bank and financial holding companies, and other activities supervised by the Federal Reserve. We seek students majoring in accounting, finance, or business.
Intern Accountabilities
- Work on special projects that support supervisory and department objectives
- Work with Microsoft Word and Excel/li>
Please click here to learn about the summer experience of the intern in Supervision and Regulation.