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The Pillars of an Award-Winning Program
Federal Reserve Bank of New York was selected as a 2024 Campus Forward Award Winner for their unwavering commitment to seeking out and hiring early career talent and investments in nurturing and retaining the next generation of diverse talent. Please see below for the highlights of their approach to early career recruitment.
Overarching Commitment to Diversity & Inclusion
DE&I are key to supporting a financial system that supports all Americans. The Bank strives to have an intern class that is representative of the district it serves and partners with diversity organizations including the National Black MBA Association, INROADS, Out for Undergrad, Prospanica, Reaching Out MBA, and more. The New York Fed also uses Handshake with a special eye towards diversity. On Handshake, the Bank is connected to nearly 1,000 colleges and universities including HBCUs and HSIs and runs campaigns that allow them to personally connect with thousands of students specifically from these schools. All interns are encouraged to join one of ten employee resource networks, a list of which can be found here: https://www.newyorkfed.org/aboutthefed/diversity.html.
Impactful Internship Program
Unlike many other financial institutions, the New York Fed is not driven by profit or the bottom line. They are committed to public service and making the economy work for everyone. This type of mission-driven work is unique to the public sector. The opportunity for interns to have a direct and positive impact on the Second District, the nation, and the world are not experiences a student can find anywhere else. Additionally, substantial time is put into ensuring interns do work that is both meaningful and aligned specifically with their skills and areas of interest. All the work interns do is thoughtfully designed and thoroughly vetted ahead of time to ensure students gain as much knowledge as possible and have the best experience possible.
Growth and Development of the Next Generation of Talent
At the New York Fed, interns develop personal and professional skills to support their career aspirations. In addition to meaningful daily responsibilities, interns experience a cohort-model of learning while receiving a mentor pairing with a more experienced professional. Interns also attend weekly presentations hosted by senior management on the Bank’s responsibilities and operations, and they also attend various professional development and leadership trainings hosted by different groups. More specifically, interns engage in at least one community service event throughout the program with the support of the Bank’s various employee resource networks. As a hybrid program, interns have the chance to gain meaningful experience with the benefits of a flexible schedule.