Main Street Lending Program Finance & Accounting Intern
Federal Reserve Bank of Atlanta
CompanyFederal Reserve Bank of BostonAs an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership.
This job is eligible for a hybrid schedule with some on-site work expected.
About the Job:
The Federal Reserve Bank of Boston (FRBB) is administering special lending facilities to support lending to small and medium-sized businesses due to exigent circumstances caused by the COVID-19 pandemic. This position is responsible for conducting remittance and accrual reconciliation related to the existing loan portfolio. Additionally, provide support for Main Street Finance & Accounting team for interest and principal proceeds analysis and reporting compliance.
This position is part of the Bank's Internship/ Co-op Program which is offered to students who are currently enrolled in graduate and undergraduate studies. This Program identifies talented and qualified candidates who could potentially fill professional job openings in the Bank.
Note: this is a 6-month fulltime internship starting from January and could possibly extend through the summer - timing is flexible.
This position requires standard knowledge of general accounting and reconciliation practices and finance and financial strategies and operations. This position relies on time management skills and judgment to plan and accomplish goals.
- Conducts financial reconciliation on a variety of topics including accounting records, cash, and accruals
- Prepares reconciliation explanations and proposed solutions for the remittance and accounting records of the Main Street Lending Program
- Performs analysis to identify and resolve variances on remittance payments.
- Prepares financial and business analyses and reporting in such areas as remittance activity, delinquent payments, loan amortization and impairment
- Coordinate updates of variable interest rate indexes
- Provide support across Finance, Accounting and Operations team activities as needed
- Provides functional and operational support across Main Street Lending Program team outside of Finance & Accounting core team as needed
Knowledge and Experience
- Excellent written and oral communications.
- Strong quantitative and qualitative analytical skills.
- Proficient Excel skills including experience with VLOOKUP and Pivot tables
- Effective interpersonal and team building skills.
- Strong knowledge in financial accounting and reconciliation.
- Ability to work independently and excellent time management skills.
- Ability to shift priorities as needs arise.
The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
Full Time / Part TimeFull time
Regular / TemporaryTemporary
Job Exempt (Yes / No)No
Work ShiftFirst (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.