What are the responsibilities and job description for the Financial Management Scholars Program - Pathways Internship Student Trainee (RMS) Public Notice position at Federal Deposit Insurance Corporation?
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.
Please see the Clarification from Agency and Additional Information sections below for more information on telework options.
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 2024 and December 2025.
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.
The competencies/knowledge, skills, and abilities (KSAs) you will be assessed on are listed below:
- Basic knowledge of accounting, finance, economics, or business-related concepts and principles.
- Ability to research, interpret and evaluate data and findings.
- Ability to obtain and analyze information and data from various sources and develop conclusions and recommendations.
- Ability to work as a member of a team.
Responsibilities:
Financial Management Scholars (FMS) will be assigned to the Division of Risk Management Supervision (RMS). FMS will work directly on teams of experienced FDIC employees to evaluate bank operations, business planning, and risk management strategies. 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. Under the direction and supervision of an Examiner or Assistant examiner of higher grade, FMS will also:
- Consolidate Reports of Conditions and Income.
- Review accounts for overdrafts, prepaid expenses, and other miscellaneous assets.
- Assist in assessing the adequacy of related insurance coverage.
- Review adequacy of fidelity and other indemnity protection.
- Assist in evaluating the adequacy of the insured depository institution procedures and internal routine controls.
- Assist in the preparation of information requisite to a thorough analysis of the earnings of an institution.
- Prepare drafts of schedules, exhibits, and comments for inclusion in the completed report of examination.
- Conduct audit test checks on income and expense accounts, computing and reconciling Capital Accounts and reconciling cash.
- Review liquidity including the analysis of fluctuations in loans, securities, deposits, and borrowings.
- Verify securities and other investments borrowings and other liabilities, and assigned collateral, pledged assets, and safe keeping items.
- Participate in other phases of an examination as assigned.
Salary : $46,625 - $62,777
