SCS - Credit Risk Management Intern - 2027

Location: Cleveland, OH

CompanyFederal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank. We’ve provided many opportunities for professional growth during our history.

For twenty-seven years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

Follow us on LinkedIn, Twitter, Instagram, and our YouTube channel – Cleveland Fed

To be considered for this role, candidates must be a U.S. citizen, permanent resident, or green card holder.

Take your skills to the next level and gain valuable experience contributing to work within Credit Risk Management.

Intern Duties

Ensure the daily operations of core functions are conducted consistently with established policy, procedure, and prudential risk and control requirements.

Conduct research and analysis on top and/or emerging risk topics and financial condition reviews of depository institutions within the Fourth District for determination of credit risk and condition considerations.

Assist Credit Risk Management with data validation and eligibility reviews of loan collateral pledged to the Discount Window.

Assist in analyzing complex financial statements of depository institutions and reviews for liquidity analysis.

Assist in preparing and delivering briefings, presentations, recommendations, and other communications for key decision-makers regarding matters impacting the Discount Window, Condition Monitoring, Reserves, Payment System Risk and/or Collateral functions.

Perform other duties as assigned or requested.

Requirements for Internships

Currently pursuing an undergraduate degree or graduate degree with a minimum GPA of 3.0. Should have at least one semester left to complete in school. Accounting, Finance, Economics, General Business,

Strong computer/technical skills required. Proficiency with Microsoft Office products, specifically Excel and Access (or familiarity with other data access tools).

Ability to work in a deadline driven environment and ability to multitask.

Ability to work both in a group setting and on an individual basis.

Strong oral and written communication skills.

What We Offer

Hands-On Experience: Gain practical experience and insights into the operations field through real-world projects and challenges.

Mentorship: Receive guidance and mentorship from experienced professionals who are committed to your development.

Networking Opportunities: Build connections within the industry and with fellow interns and employees.

Professional Development: Participate in workshops, training sessions, and seminars designed to enhance your skills and knowledge.

Our interns will work onsite at our Cleveland, Ohio location. We’re looking for collaborative and innovative full-time students entering their sophomore year or beyond. Our student interns work 40 hours per week for the duration of a 10- to 12-week internship that starts as early as June and ends as late as September, depending on student schedules and business needs. The expected starting salary range for this position is between ​$20.50 and $26.00 hourly. Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and market data

To be considered for this position please enter your application by October 31st, 2026

Citizenship requirements

This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe.

In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

Physical Demands and General Working Conditions

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time.

Bank’s Ethics Rules and Drug Testing

As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions.  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.

In addition, as a condition of emplo