Summer Internship - Supervision & Regulation - Fintech

Company

Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government.

The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

Job Summary:

The Federal Reserve Bank of Philadelphia is seeking an PhD or graduate level student (with majors in economics, finance or computer science) for a summer internship for the Fintech Team in our Supervision, Regulation & Credit (SRC) department. 

The internship may be fully remote, though a hybrid model where the intern comes into the office 2-3 times a week to work with the project manager will also be permissible.

The work schedule is Monday – Friday (40 hour per week).  This is a 10-week paid internship.  The hourly rate for this position is $26.00-$30.00 per hour depending on the candidate's education.  

What You Will Do:

The intern will assist on projects exploring the use of smart contracts on various blockchain platforms and evaluate its effectiveness and impact on the future of finance & banking. The intern will review cryptocurrency activities that have been growing exponentially in recent years, including a large number of financial activities that have moved out of the official financial system into some decentralized platforms. The crypto ecosystems are not connected with the official financial system and the activities in there are not on regulators’ radar screens. The ultimate deliverable for this internship will be a research brief focusing on the motivation, creation, and usage of these smart contracts; whether these activities are actually decentralized; and differentiating and estimating the returns and/or losses from certain types of smart contracts.

What You Have:

• PhD level or graduate student perusing an economics, finance or computer science related major
• Basic understanding of the cryptocurrency markets
• Previous research experience
• Knowledge of the economic and financial markets preferred
   

Required Skills:

• Excellent programming skills
• Strong ability to synthesize findings and communicate them written and verbally
• Strong critical thinking and data analysis skills
   

Preferred Competencies:

• Good problem-solving skills
• Strong organizational skills
• Strong attention to detail
• Good written communications skills

Additional Information:

• The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “rb@myworkday.com”.  If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity.  If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at TalentAcquisition@phil.frb.org.
• 
  We are an equal opportunity employer committed to hiring the best candidates and to providing equal employment opportunity to all persons without regard to race, color, religion, sex, pregnancy, national origin, age, genetic information, disability, military service, or any other basis protected by law.
• We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment. If you need assistance or an accommodation due to a disability, please email us at TalentAcquisition@phil.frb.org.
• 
  All Federal Reserve Bank of Philadelphia 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 officer if necessary. You should review