Federal Reserve Bank (FRB)
2020 FISC - Quantitative Supervison and Research Project Internship (Finance)
FEDERAL RESERVE SYSTEM OVERVIEW
The Federal Reserve Bank's mission and work are built on over hundred years of strength, stability, and excellence. No other organization does what we do or has a greater impact on global economies. Our mission is to promote low inflation, full employment, and financial stability as well as provide services to financial institutions and the Treasury.
FEDERAL RESERVE BANK OF SAN FRANCISCO OVERVIEW
The Reserve Bank of San Francisco is one of Twelve Reserve Banks responsible for setting the nation's monetary policy, serving the as the fiscal agent for the United States Treasury and supervising banking institutions, ensuring their stability and compliance with banking regulations. Our headquarters are in SF, CA serving the largest geographic district within the Federal Reserve System. With Branches offices in Los Angeles, Seattle, Portland, Salt Lake City, and Phoenix.
GOLD INTERN PROGRAM OVERVIEW
Invest in your future and consider joining the Growing Opportunity for Leadership and Diversity (GOLD) Program. Our paid internship program will offer you the opportunity to work on projects that supports the Bank's business and impact the United States economy.
FINANCIAL INSTITUTION SUPERVISION AND CREDIT (FISC) QUANTITATIVE SUPERVISION AND RESEARCH DEPARTMENT OVERVIEW
The Quantitative Supervision and Research (QSR) team conducts research and analysis to inform the model development and implementation of the Federal Reserve stress testing program and provides quantitative support to the Federal Reserve's Supervision and Regulation function at the forefront of overseeing the nation's largest and most complex financial institutions. The team also engages in various activities such as supporting the supervisory examination teams and assisting with quantitative work in the Federal Reserve Bank of San Francisco.
POSITION/PROJECT OVERVIEW
The project involves conducting research and development on the behavior of interest rates under stress that will be useful for the stress testing program in the Federal Reserve System and the supervisory work at the Federal Reserve Bank of San Francisco. Each year the Federal Reserve produces scenarios that stress the largest and most complex financial institutions. The intern will work with data and code to contribute to the metrics that we are developing to analyze various past interest rate scenarios from the stress test. The intern will also contribute to our understanding of how the London Interbank Offer Rate (LIBOR) behaves under stress and also consider how the transition to the Secured Overnight Funding Rate (SOFR) behaves under stress. The results of the project will strengthen our understanding of interest rates and be shared more broadly within the supervisory function and the Federal Reserve Bank of San Francisco.
KEY RESPONSIBILITIES
Specific responsibilities can vary depending on the nature of the needs and initiatives at the time as well as the background and experiences of the summer intern. Regarding the primary project, the candidate would be responsible for working with code and data related to metrics and monitoring of interest rates and developing these further. This could also involve working with the data we have on LIBOR and on SOFR to better understand how these rates behave in stress. At the end, the intern will present to various stakeholders.
REQUIREMENTS:
N/A
The Federal Reserve Bank of San Francisco is an Equal Opportunity Employer.