Intern - Financial Accounting

Federal Reserve Bank
Chicago, Illinois, United States
Competitive salary
29 Oct 2020
02 Nov 2020
Job role
Experience level
Entry level, Internship
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.

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.


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:
  • October 2020 and onward - applications
  • Mid October 2020 and onward - Interviews
  • January 2021 - offers accepted
  • June 7, 2021 or June 14, 2021 - Start dates

Job Summary:

The primary purpose of the Accounting Department within the Federal Reserve Bank of Chicago is to manage the day-to-day operation, maintenance and upkeep of the Seventh District's internal accounting-related activities, from monthly to daily account reviews to comprehensive, year-end financial reporting, with much more in between.

Job Responsibilities:
  • Data entry on Accounting system
  • Review and confirm Accounting folders are complete and accurate
  • Compliance testing around general ledger entry policies
  • Responsible for creating PowerPoint presentations and manipulatinglarge Excel files
  • Perform other ad-hoc duties

Job Requirements:
  • Undergraduate - rising Junior or Senior
  • Accounting major
  • Microsoft Excel skills
  • Strong organizational skills
  • Ability to multi-task

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.

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.

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