Summer Internship: SRC Credit Card CECL Research Project - Military Veterans

at Federal Reserve Bank of Philadelphia

Philadelphia, Pennsylvania


Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia is seeking an undergraduate senior college student or recent graduate (major in computer science, economics, or finance) for a summer internship for the Fintech Team in our Supervision, Regulation & Credit (SRC) department.

This internship will be with the SRC Retail Supervisory Modeling Team that conducts supervisory model development research related to retail loans .

Description of Project Assignment:

Credit Card CECL research project: A Comparison of Credit Card CECL Modeling Methodologies

The intern will be required to perform a thorough literature review of the existing modeling methodologies and best practices for CECL within the credit card portfolio. He or she will be tasked with providing justifications and rationales of the alternative methodologies within academia and industry. The intern is required to compare results of the various modeling methodologies and will be tasked with using RADAR vendor data to run analyses. By the end of the internship, the intern is expected to provide a thorough review of the research landscape for CECL modeling practices, along with accompanying analytics (using vendor data, where appropriate).

This will be a 20 to 40-hour per week position for the 10-week summer internship.

Required Skills:

(1) Good coding skills -- The individual will be required to have proficiency in or more of the following statistical software packages: Python, R, SAS, MATLAB, or Stata

(2) The candidate will require strong analytical, problem solving, and written communication skills.

Preferred Skills:

Priority will be given to candidates with advanced retail loan research experience as the candidate be tasked with reviewing academic and industry papers on modeling concepts and synthesizing these publications in a concise fashion.

Other Requirements:

Certain eligibility rules apply. Applicants must be able to provide work authorization to prove their eligibility to work in the United States.

We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.

A requirement of this position is that you will be fully vaccinated against COVID-19 or qualify for a medical or religious accommodation.

All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. 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, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.

Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.

All employees 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, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities 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.

Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.

Full Time / Part Time

Part time

Regular / Temporary


Job Exempt (Yes / No)


Job Category

Work Shift

First (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.

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Philadelphia, Pennsylvania

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government.

It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.

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