Skip Header
U.S. flag

An official website of the United States government


Join the FDIC as a Financial Management Scholar (FMS)

Last Updated: March 19, 2024

The FDIC's Financial Management Scholars Program is a paid summer internship program for college students majoring in economics, business administration, finance, accounting, or a related field (including mathematics and statistics). The program is available to students nationwide.

FDIC bank examiners determine if financial institutions follow safe-and-sound banking practices, implement effective internal policies and procedures, and comply with consumer protection, anti-discrimination, and community reinvestment laws and regulations. When you join the agency as a Financial Management Scholar (FMS), you will get an in-depth, firsthand experience with how the FDIC accomplishes its mission of maintaining stability and public confidence in the nation’s financial system. As an FMS, you will improve your current skills and develop new abilities to help you prepare for your career after college.

Why the FDIC?

The FDIC supervises a vast majority of the country’s community banks. These institutions provide loans to farmers and small businesses, make it possible for entrepreneurs to launch start-ups, support local governments as they build libraries and parks, and help foster local economies. These essential functions are the very things that help keep America running.

As either a Consumer Protection FMS in the Division of Depositor and Consumer Protection (DCP) or Risk Management FMS in the Division of Risk Management Supervision (RMS), you will enjoy a meaningful internship with impact on the financial industry, and gain knowledge of how the FDIC fulfills its mission through these critical functions:

Consumer Protection FMS

  • Assisting in the evaluation of financial institutions to determine if they treat consumers and depositors fairly and operate in compliance with federal consumer protection, anti-discrimination, and community reinvestment laws; and
  • Helping to build and strengthen positive connections between banks and consumers, depositors, small businesses, and communities.

Risk Management FMS

  • Examining and supervising insured financial institutions,
  • Leading sound policy development,
  • Evaluating adherence to laws and regulations, and
  • Monitoring and mitigating systemic risks.

Other highlights of our program:

Work when you can – Financial Management Scholars work 11-12 weeks during the summer, giving you time to build your resume during your break from the busy peaks of the fall and spring semesters.

Work toward your future – FMSs complete an automated writing assessment during the summer assignment. Upon passing the writing assessment and successfully completing the program, FMSs may be offered full-time positions to commence after graduation. In addition, FMS positions are salaried, and you may be eligible for certain federal employee benefits.

Commitment to Diversity, Equity, and Inclusion – The FDIC achieves its mission by creating an inclusive work environment that recognizes and appreciates all employees’ perspectives and talents, allows employees opportunities to reach their highest potential, and attracts and retains the most talented employees.

What will you learn?

Please choose the tab below to read about either the Consumer Protection FMS or the Risk Management FMS position.


Consumer Protection FMS

American banking consumers look to the FDIC to ensure that financial institutions keep their money safe, treat them fairly, provide them with products and services that help them meet their financial goals, and serve the needs of their communities. As a Consumer Protection FMS, you will gain direct experience performing a number of the duties and responsibilities assigned to the FDIC’s commissioned examiners. You will be part of a team that assesses banks to determine whether they maintain effective internal controls and procedures to comply with all applicable laws and regulations, such as those relating to consumer protection, privacy, community reinvestment, and fair lending.

Under the direction and supervision of a more experienced examiner, some of the duties you will perform or assist include:

  • Reviewing the initial disclosures, periodic statements, advertisements, and other information financial institutions provide to consumers;
  • Assessing financial institutions’ overall compliance with applicable regulations, such as the Truth in Lending Act, Home Mortgage Disclosure Act, Fair Credit Reporting Act and Equal Credit Opportunity Act;
  • Reviewing the Home Mortgage Disclosure Act loan application register for accuracy and assessing the bank’s overall reporting procedures;
  • Examining residential, consumer, commercial and agricultural loan files to determine compliance with applicable lending-related regulations;
  • Participating in the discussion of the examination process for evaluating the financial institution’s Compliance Management System, which includes senior management oversight, policies, monitoring, and training, and audit procedures;
  • Reviewing the financial institution’s performance under the Community Reinvestment Act, participating in discussions regarding assigned ratings, and preparing a summary of each performance factor describing why the rating was assigned; and
  • Preparing drafts of schedules, exhibits, and comments for inclusion in the report of examination.


Risk Management FMS

The FDIC evaluates banks and savings associations to determine if they are operating in a safe-and-sound manner. As a Risk Management FMS, you will gain direct experience performing a number of duties and responsibilities assigned to the FDIC’s commissioned examiners. You will be part of a team that examines a bank’s financial condition, risk management program, and internal control structure. The teams also assess compliance with safety and soundness rules and regulations, including anti-money laundering and bank secrecy laws and regulations, as well as bank information technology controls.

Under the direction and supervision of a more experienced examiner, some of the duties you will perform or assist include:

  • Reviewing financial statements;
  • Reviewing accounts for overdrafts, prepaid expenses, and other miscellaneous assets;
  • Assessing the adequacy of related insurance coverage;
  • Evaluating the adequacy of the insured depository institution procedures and internal routines and controls;
  • Completing a thorough analysis of the earnings of an institution;
  • Conducting transaction testing on income and expense accounts;
  • Computing capital ratios, reconciling capital accounts, and reviewing account activity;
  • Reviewing financial institutions’ liquidity, including analysis of fluctuations in loans, securities, deposits, and borrowings;
  • Verifying securities and other investments, including reviewing securities transactions, determining quality, and verifying appropriate accounting;
  • Preparing drafts of schedules, exhibits, and comments for inclusion in the report of examination; and
  • Participating in other phases of an examination as assigned.

Special Announcement

The FDIC is now accepting applications for FMS internships. To be considered, you must:

  • Be a U.S. Citizen
  • Register with the
  • Agree to very frequent overnight travel, up to 4 nights per week (most locations).
  • Work at remote and/or multiple work sites.
  • Successfully pass a background investigation.
  • Pass an automated writing assessment.

Applicants must be in good academic standing with at least a cumulative (overall) 3.25 GPA and maintain a cumulative 3.25 GPA throughout the duration of the FMS internship.

Consumer Protection FMS


Or apply via a link:

Risk Management FMS


Or apply via a link:

Join our Talent Network

Want to stay connected? Leave your information with us, and we will contact you about new internship and career opportunities that match your interests. Any information you provide is confidential and will only be viewed by our recruiters to the extent required to provide information about open positions.

The FDIC is an equal opportunity employer. We recruit, hire, and develop a high-performing workforce that reflects the communities we serve. Applicants are considered without regard to their race, religion, color, sex (including pregnancy, gender identity, and sexual orientation), national origin, disability, age, genetic information, retaliation, parental status, or other non-merit factors.