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The Pillars of an Award-Winning Program
Federal Reserve Bank of New York was selected as a 2023 Campus Forward Award Winner for their unwavering commitment to seeking out and hiring early career talent, their emphasis on diversity & inclusion, and investments in nurturing and retaining the next generation of talent. Please see below for the highlights of their approach to early career recruitment.
Demonstrated Investment in Early Career Hiring
The Federal Reserve Bank of New York offers outstanding opportunities for students and early-career professionals to enhance their skills through mission-driven work in a wide range of roles. Furthermore, the internship programs provide early talent with the opportunity to gain meaningful work experience and serve as the largest pipeline for entry-level hiring into the Bank. Most importantly, the Federal Reserve Bank of New York strives to bring together interns with wide-ranging skills and backgrounds who are deeply committed to the economic well-being of its communities, and who value working collaboratively and inclusively, which in turn draws on its collective strengths.
Innovative and Multi-Faceted Approach to University Recruitment
The Early Careers Team at the Federal Reserve Bank of New York goes above and beyond to recruit and connect with a diverse pool of talent through various virtual pathways. Adopting a virtual approach to recruitment helps the company equitably employ its recruitment efforts across college and university partners nationwide. Moreover, before each cycle, the team sets dates for webinars called ‘Early Career Insights’, as well dedicated ‘group spotlight’ sessions, which serve as an opportunity for students to learn more about programs and groups across the bank. In addition to webinars, the team also hosts a Freshman Discovery Day, and various Student Summits for groups across the bank, which are all driven by Handshake and other social media outlets. Lastly, once incoming students are provided an offer, the Early Careers Team is available to address questions throughout every step of the onboarding process leading up to the internship experience.
Overarching Commitment to Diversity & Inclusion
Diversity, equity and inclusion are key to fulfilling the Federal Reserve Bank of New York’s mission of making a difference for those it serves and encouraging those who work there. The Early Careers Team strongly believes that interns from diverse backgrounds offer varied perspectives, and yield more creative solutions and better results. The team maintains strong relationships with diversity partner organizations and career services contacts at universities across the country.
Impactful Internship Program
At the Federal Reserve Bank of New York, interns will develop personal and professional skills to support their career aspirations. In addition to daily responsibilities, interns experience a cohort-model of learning, while receiving a mentor pairing with a more experienced professional at the Bank. Interns also have the opportunity to attend weekly presentations hosted by senior management on the Bank’s responsibilities and operations. In addition to presentations, interns attend various professional development and leadership trainings hosted by different groups. More specifically, interns engage in at least 1 community service event throughout the program with the support of the Bank’s various employee resource networks. As a flex/hybrid program, interns have the chance to gain meaningful experience with the benefits of a flexible schedule. Overall, these elements of the Bank’s internship programs lead to positive feedback and high conversion rates among interns.
Growth and Development of the Next Generation of Talent
The Early Careers Team at the Federal Reserve Bank of New York identifies strong candidates early in their academic careers through various pipeline internship programs. Working at the Federal Reserve Bank of New York provides both interns and entry-level hires the chance to grow their skills at an institution that has served a critical role in the financial system for over a century. Further, early career talent will have opportunities to develop their expertise through formal learning and development programs. For example, incoming hires will have the opportunity to enroll in professional development activities, such as a mentorship program, and engage with various employee resource groups in order to develop leadership skills and shape new initiatives. The program’s success is supported by the principles of career management and mobility, as well as the commitment to create a diverse workforce which ultimately yields more creative approaches and tangible outcomes.