PhD Intern, Policy Research & Analytics - Supervision & Regulation (Finance)

Minimum Education

E nrolled in a graduate degree program at an accredited university and returning to continue studies after the internship.

Minimum Experience

0

Summary

The Federal Reserve Board (Board) provides students opportunities for career success. The Board's Internship program is designed to provide valuable work experience for graduate students considering careers including, but not limited to, economics, finance and accounting, information systems, and data analysis. The Board believes that by combining academic endeavors with project-related work experience, qualified and capable college students can gain the practical knowledge need in a competitive global job market. Internships are paid positions with salaries commensurate with credit hours; internships may be in-person, remote or hybrid, depending on the needs of the team. Employment in the Board's internship program is granted to U.S. citizens. Applicants must be currently enrolled in a graduate degree program at an accredited university and returning to continue studies after the internship. Interns receive a syllabus or research project plan outlining their projects and goals for the internship. Interns are assigned a supervisor or mentor to guide them through their internship, and regular check-in meetings with their manager to manage performance expectations and assist with learning goals. Interns have access to a wide range of training programs and events for professional development purposes. About the Team

The successful candidate works alongside economists within the Division of Supervision & Regulation (S&R). More specifically, the PhD intern will work with our Policy Research and Analytics group. Economists in this group support related policy work while conducting research on a range of research areas, including but not limited to the economics of financial intermediation by banks and non-banks, and the implications on bank supervision and regulation, financial stability, and real economic activity.

Policy Research and Analytics is responsible for policymaking surrounding banks' trading, credit, and operational risk models, researching the economic impacts of regulatory policies, and analyzing information on banks' internal risk limits as part of Volcker rule compliance.

About the Role

This internship within S&R provides graduate Ph.D. students the opportunity to collaborate with research economists and policymakers, conduct research towards their dissertation and contribute to the mission of the Board. This posting is for a position with the Policy Research and Analytics (PRA) group within S&R.

While at the Board, Ph.D. interns will:

• Primarily focus on researching a topic of their own choosing, furthering dissertation research begun before the internship.
• Strengthen their oral presentation skills through hosting and presenting 1-2 seminars on their work.
• Build institutional knowledge and technical skills by engaging in policy work related to their interests.
• Work with confidential regulatory data collected within the division, if approved.
• Develop relationships and collaborate with Board economists, through which they will receive feedback on their work.
• Learn about preparing for the job market.
• Participate in our extensive seminar series.

Desired Degree Program or Coursework: Must be enrolled in an accredited graduate level program pursuing a Ph.D. in Economics, Finance, or a related field of study with a minimum 3.0 GPA. Preference is given to students at an advanced stage of writing their dissertation.

Preferred Research Interests

• Banking
• Banking Regulation
• Corporate Finance
• Financial Risk Management
• Financial Intermediation

Required Documents for Application

• CV or Resume
• Cover Letter (Please describe why you are interested in this position as well as whether you have any specific project in mind)
• Work from Thesis (e.g., current drafts, research proposal, presentation slides)
• Unofficial Graduate Program Transcript
• Contact Information (Name, Email, Phone Number) for Two Potential Letters of Recommendation

Notes

• The deadline for submitting your application is Sunday, November 30 th at 11:59pm ET.
• Anticipated Start Date & Term: Spring/Summer 2026, term up to 180 days from start date - exact start date is flexible.
• U.S Citizenship is required for all Board internships and applicants must be current students, graduating from their program Spring 2028 or later.