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Financial Management Scholars Program

Last Updated: September 9, 2022

2023 Financial Management Scholars Program Dates

  • Session 1: May 15, 2023 - August 04, 2023
  • Session 2: June 12, 2023 - August 25, 2023

**Scholars will be placed, based on their availability, in one of these two sessions.

Applications are currently being accepted through September 30, 2022 at 11:59 pm, EST. Please visit the On-Campus Recruiting page to see when our recruiters will have an event at your school.

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.

Financial Management Scholars (FMSs) get an in-depth, firsthand look at how the FDIC accomplishes its mission by ensuring that banks are following safe and sound banking practices, managing their institutions effectively, and complying with consumer protection, anti-discrimination, and community reinvestment laws and regulations. At the FDIC, we recognize the value of providing our Scholars real work from day one so that they have a realistic expectation of what it is like to work as a commissioned bank examiner. We believe a hands-on experience empowers them and equips them with the confidence they need to succeed as early career professionals. Additionally, Scholars will have the opportunity to travel up to 50% of their internship duration to various banks.

Bank examinations are conducted on-site at banks, sometimes at great distance from the FDIC office. Scholars are reimbursed for travel expenses, but are responsible for providing their own transportation to bank examination sites. Public transportation is often unavailable. (FDIC employees generally drive their personal automobiles to bank exams and are reimbursed for mileage.) Scholars may elect to receive a one-time $2,500 stipend (in addition to bi-weekly salary) at the beginning of the program. Certain stipulations apply. Scholars are responsible for providing their own housing. Relocation expenses will not be paid; however, travel to and from Arlington, VA will be paid by the FDIC and Scholars will be reimbursed for work-related travel.

Our Financial Management scholars will attend a one-week orientation session in Arlington, VA, followed by an on-the-job training assignment working out of one of the FDIC's field offices. Scholars will complete an automated writing assessment during the field office assignment and must pass to be eligible for a post-internship employment offer. Scholars will return to Arlington, VA for the final week to share their experiences. The orientation consists of several presentations covering topics such as: the FDIC’s mission and values; ethics; diversity, equity, and inclusion; and performance reviews. Scholars will receive a welcome presentation that introduces them to the FDIC’s mission and values, as well as a presentation that details the FDIC’s Human Resources policy and security privacy awareness policy. Scholars are introduced and meet one-on-one with their field supervisors. There will also be several presentations on the FDIC’s benefits, ethics, telework, and commitment to diversity, equity, and inclusion. Additionally, we review with our Scholars developmental feedback forms, which explain how they will be reviewed throughout the internship program.

Our on-the-job training places interns on teams with experienced, FDIC-commissioned examiners and mentors to gain hands-on experience. Scholars work 11-12 weeks during the summer, giving them time to build their resumes during their break from the busy peaks of the fall and spring semesters. In RMS, our Scholars work on teams to examine 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. In DCP, our Scholars work on teams 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.

Benefits

In addition to the regular benefits offered by Federal agencies, the FDIC offers other benefits to employees on a full-time work schedule. These benefits, some at minimal cost, are among the best and most competitive in both the private and public sectors.

Other Information:

If selected, scholars will be required to serve a trial period.

Key Requirements:

  • U. S. citizenship.
  • Enrolled at least half-time in a bachelor’s degree program at an accredited college or university.
  • Completion of the junior year with a major in economics, business administration, accounting, or related field, an overall Grade Point Average of 3.25, and a planned graduation date between December 2023 and December 2024.
  • Successful completion of the FDIC’s background investigation requirements.
  • Must be registered with Selective Service (males born after Dec 31, 1959).
  • All interns are required to sign the FDIC Internship Program Participant Agreement. Moderate Risk Position--Minimum Background Investigation (MBI) required.

If selected for the position, you may be asked to provide the FDIC with your COVID-19 vaccination status.

The FDIC offers position-specific telework options. FMS interns will have the Ad-Hoc/Situational Telework option. Please click here for more information.