Financial Management Student Trainee

Business Name: 
FDIC
Type of Position: 
Full-Time Internship
Grade Level: 
Junior
Location: 
Multiple locations nationwide
Days/Hours per Week: 
Full Time
Pay Range: 
N/A
Duration of Position: 

10-11 weeks

Position Description: 

The Financial Management Scholars Program (FMSP) is a paid internship that may lead to a post-graduation employment offer as a Financial Institution Specialist, a three and a half year training program leading to professional certification as a commissioned Financial Institution Examiner.

Position Responsibilities: 

Scholars will be assigned to one of FDIC’s two major business divisions:  Risk Management Supervision or Depositor and Consumer Protection. Scholars will work directly on teams of experienced FDIC employees to evaluate bank operations, business planning, risk management strategies, and consumer protection practices.  These teams are responsible for assessing financial institutions to determine whether they are following safe and sound banking practices, maintaining effective internal controls and procedures, managing their institutions effectively, and complying with all applicable laws and regulations, including those relating to consumer protection, privacy, community reinvestment, and fair lending.  

Required Qualifications: 

Conditions of Employment

  • U.S. Citizenship
  • Registration with the <a href="http://www.sss.gov">Selective Service.</a>
  • Very frequent overnight travel, up to 4 nights per week (most locations).
  • Work at remote and/or multiple work sites.
  • Must successfully pass a background investigation.

Applicants must be in good academic standing with at least a cumulative (overall) 3.25 GPA and maintain a cumulative 3.25 GPA throughout the duration of the FMSP.

Qualifications

To be qualified, you must be enrolled at least half-time in a bachelor's degree program at an accredited college or university; and must have completed your junior year of college prior to entering the program, have a current overall GPA of at least 3.25, with a planned graduation date between December 2020 and December 2021.  

You must be majoring in accounting, banking, commercial or banking law, economics, business administration, marketing, finance, or other fields related to the position.

To be eligible for conversion to the Financial Institution Specialist (FIS) position in the competitive service upon completion of the internship, you must complete 640 hours of work experience (up to 320 hours may be waived based on successful performance in the position and a 3.5 overall GPA or membership in a national honor society); meet the OPM qualification standards for the target position, which includes six (6) semester hours in accounting coursework; meet the requirements of the FDIC Pathways Participant Agreement; and successfully complete various skills assessments. Service in the FMSP confers no right to further employment. The promotion potential if converted is CG-12.

Education

Scholars will be placed, based on their availability, in one of two sessions scheduled from May 18, 2020 - August 7, 2020, or June 15, 2020 - August 28, 2020. Scholars will attend a one-week orientation session in Washington, DC, followed by an on-the-job training assignment working out of one of the FDIC's field offices.  Scholars will complete an automated writing assessment during the field office assignment and must pass to be eligible for a post-internship employment offer. Scholars will return to Washington, DC for the final week to share their experiences and participate in an additional skills assessment.  Scholars will also have the opportunity to select locations where they are willing to work and the disciplines to which they are willing to be assigned if offered a FIS position at the end of the FMSP. Location and discipline placement is at the discretion of FDIC management. Not all offices participating in the FMSP will have permanent positions available after the internship is completed.  

Candidates selected for the FMSP will be initially offered a temporary position not-to-exceed 10/10/2020.  Scholars who receive and accept employment offers at the end of the FMSP will be placed on leave without pay and will have their temporary appointments extended at the discretion of the FDIC.  After graduation, they may be non-competitively converted to a term appointment as a FIS (contingent upon completing at least 640 hours of work experience acquired through the internship, prior to their graduation, completion of their degree requirements, and fulfillment of the qualification standards for the FIS position and other requirements as specified in the Pathways Agreement).  Upon successful completion of the FDIC's examiner training program, FIS's may be non-competitively converted to a permanent appointment; however, service in the FMSP confers no right to further employment in the competitive or excepted service.

Bank examinations are conducted on-site at banks, sometimes at great distance from the FDIC office.  Scholars are reimbursed for travel expenses, but are responsible for providing their own transportation to bank examination sites.  Public transportation is often unavailable.  (FDIC employees generally drive their personal automobiles to bank exams and are reimbursed for mileage.)

Scholars may elect to receive a one-time $2,500 stipend (in addition to bi-weekly salary) at the beginning of the program.  Certain stipulations apply.  Scholars are responsible for providing their own housing.
Relocation expenses will not be paid; however, travel to and from Washington, D.C. will be paid by the FDIC and Scholars will be reimbursed for travel expenses to get to their duty location. 
If selected, Scholars may be required to serve a trial period.
All selectees must sign the FDIC Pathways Participant Agreement.

To read about your rights and responsibilities as an applicant for Federal employment, click here.
Additional selections may be made from this vacancy announcement to fill identical vacancies that occur subsequent to this announcement.

 

Application Deadline: 
12/02/2019