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The Financial Management Scholars Program (FMSP) is a paid internship that may lead to a post-graduation employment offer as a Financial Institution Specialist, a three and a half year training program leading to professional certification as a commissioned Financial Institution Examiner.
Additional selections may be made from this vacancy announcement to fill identical vacancies that occur subsequent to this announcement.
Learn more about this agency10/02/2024 to 12/26/2024
$51,262 - $66,589 per year
CG 04
No
Yes—The FDIC offers position-specific telework options. Please see the Additional Information section below for more information. Telework options are subject to change.
75% or less - Very frequent overnight travel, up to 4 nights per week (most locations). Relocation expenses will not be paid; Scholars will be reimbursed for work-related travel. Relocation benefits may be authorized in accordance with FDIC relocation policy, if converted to Financial Institution Specialist (FIS).
No
Internships - Appointment not to exceed October 18, 2025. May be extended at management's discretion.
Full-time - Excepted Service
Excepted
04
No
No
2024-RMS-FMS-0056
812495700
To be qualified, you must be enrolled at least half-time in an bachelor's degree program at a accredited college or university; and must have completed your junior year of college prior to entering the program, have a current overall GPA of at least 3.25; with a planned graduation date between December 2025 and December 2026.
Financial Management Scholars (FMS) will be assigned to the Division of Risk Management Supervision (RMS). FMS will work directly on teams of experienced FDIC employees to evaluate bank operations, business planning, and risk management strategies. These teams are responsible for assessing financial institutions to determine whether they are following safe and sound banking practices, maintaining effective internal controls and procedures, managing their institutions effectively, and complying with all applicable laws and regulations. Under the direction and supervision of an Examiner or Assistant examiner of higher grade, FMS will also:
Applicants must be in good academic standing with at least a cumulative (overall) 3.25 GPA and maintain a cumulative 3.25 GPA throughout the duration of the FMSP.
Qualifying experience may be obtained in the private or public sector. Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g., Peace Corps, AmeriCorps) and other organizations (e.g., professional; philanthropic, religious spiritual; community; student, social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience.
To be qualified, you must be enrolled at least half-time in a bachelor's degree program at an accredited college or university; and must have completed your junior year of college prior to entering the program, have a current overall GPA of at least 3.25, with a planned graduation date between December 2025 and December 2026.
You must be majoring in accounting, banking, commercial or banking law, economics, business administration, marketing, finance, or other fields related to the position.
To be eligible for conversion to the Financial Institution Specialist (FIS) position, interns must complete 480 hours of work experience (up to 160 hours may be waived based on exceptional job performance in the position and a 3.5 overall GPA or better on a 4.0 scale; or top 10 percent of the student's graduating class; or membership in a national honor society; or a letter of recommendation attesting to the student’s outstanding program performance from an instructor or program administrator); meet the OPM qualification standards for the FIS position, which includes six (6) semester hours in accounting coursework; meet the requirements of the FDIC Pathways Internship Program Participant Agreement; and successfully complete various skills assessments. Service in the FMSP confers no right to further employment. The promotion potential if converted is CG-12.
The competencies/knowledge, skills, and abilities (KSAs) you will be assessed on are listed below:
See Qualifications for Educational requirements.
Scholars will be placed, based on their availability, in one of two sessions scheduled from May 19, 2025 - August 15, 2025, or June 02, 2025 - August 22, 2025. Scholars will attend an orientation session, followed by an on-the-job training assignment working out of one of the FDIC's field offices. Scholars will complete an automated writing assessment during the field office assignment and must pass to be eligible for a post-internship employment offer.
Candidates selected for the FMSP will be initially offered a temporary position not-to-exceed October 18, 2025. Scholars who receive and accept employment offers at the end of the FMSP will be placed on leave without pay and will have their temporary appointments extended at the discretion of the FDIC. After graduation, they may be non-competitively converted to a term appointment as a FIS (contingent upon completing at least 480 hours of work experience acquired through the internship, prior to their graduation, completion of their degree requirements, and fulfillment of the qualification standards for the FIS position and other requirements as specified in the Pathways Agreement). Upon successful completion of the FDIC's examiner training program, FIS's may be non-competitively converted to a permanent appointment; however, service in the FMSP confers no right to further employment in the competitive or excepted service.
Scholars may elect to receive a one-time $2,500 stipend (in addition to bi-weekly salary) while in the program. Certain stipulations apply. Scholars are responsible for providing their own housing.
If selected, Scholars may be required to serve a trial period.
Institution Examiners must comply with Section 3201.102 of Supplemental Standards of Ethical Conduct for FDIC Employees (5 CFR Part 3201), which, in part, prohibits them and their immediate families from accepting certain credit from State nonmember banks.
All Financial Institution Examiners are prohibited from the following:
1. Obtaining a loan or a line of credit from any insured state nonmember bank or its subsidiaries. Any extensions of credit held by the Examiner, the Examiner's spouse, or any dependent children are direct or indirect extensions of credit to the Examiner.
Exceptions:
a. Loans for a primary residence are permissible. The Examiner must not participate in any examination of that institution with which he holds the primary residence loan, and a "cooling off" period is required before negotiating a loan for a primary residence from any institution the Examiner has examined.
b. No restrictions on obtaining credit cards issued under the same terms and conditions available to the public from an insured state nonmember bank either within or outside of their field office of assignment.
2. Participating in any examination, or other matter, involving an insured depository institution or any person with whom the Examiner has an outstanding loan or line of credit.
3. Performing any service for compensation with any bank, or for any officer, director, or employee thereof, or for any person connected therewith.
4. Disclosing any confidential information from a bank examination report except as authorized by law.
5. Soliciting or accepting any gift from a prohibited source or because of the Examiner's official position.
You will be evaluated for this job based on how well you meet the qualifications above.
Your application package will be reviewed to determine if you meet the eligibility and qualification requirements outlined in this announcement. The application package must include all required supporting documents (on-line assessment questionnaire, resume, cover letter, transcripts, and letter of recommendation). Applicants who meet the basic eligibility and qualification requirements and have submitted all required documents may be scheduled for a virtual interview. The FDIC plans to make internship offers in March 2025 or later.
If you rated yourself higher than what is supported by your resume, your overall qualifications assessment may be adversely affected.
Qualified applicants who are eligible for veterans’ preference will have selection priority.
Along with completing the Online Assessment Questionnaire, you must provide the following: acceptable.
1. A cover letter (by the closing date of the announcement). The letter should explain why you are interested in the FMSP and how your background (i.e., education, experience/interests, volunteer activities, work, etc.) may fit with this position and with the mission/goals of the FDIC.
2. A resume (by the closing date of this announcement). Your resume must include your expected degree, anticipated graduation date to include month and year, and major field of study. It should also show any work experience (including paid or unpaid internships), particularly those involving financial analysis duties; leadership, public speaking, and/or volunteer experiences; participation in college extra curricular activities (including athletics), study abroad, and community or public service organizations/initiatives; and awards or recognition relating to any of those activities.
3. A copy of all college transcripts (by the closing date of this announcement). Unofficial transcript(s) are acceptable. The transcript(s) must show the courses you have completed, grades/credits earned, and current overall GPA. Documented Proof of Enrollment or official documentation of your current class schedule is
4. A letter of recommendation must be submitted from a professor or other faculty member at your college or university who has a personal knowledge of your qualifications. The letter should specify in what capacity the professor/faculty member knows you (e.g., academic course, work on a project, teaching assistant, academic advisor, work/study, etc.) and should address your competency in the following areas: analytical ability; written communication; oral communication; teamwork; interpersonal skills; organization; time management; leadership; and personal initiative. The professor/faculty member must submit the letter of recommendation directly to HR Specialist LaShawndy Cobey via email at FMSProgram@FDIC.gov. The letter of recommendation must be received no later than 11:59 p.m. Eastern Standard Time (EST) Monday, January 6, 2025. Letters of Recommendation submitted directly from applicants will not be accepted.
5. If you are claiming veteran’s preference, you must submit documentation, e.g., DD-214 “Certificate of Release or Discharge from Active Duty,” which shows dates of service and discharge under honorable conditions, VA Letter, or SF-15 along with supporting documentation, or “certification” from the Armed Forces to demonstrate eligibility.
Incomplete application packages will not be considered.
Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications. Therefore, provide only the attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education.
Failure to provide all of the required information as stated in this vacancy announcement may result in an ineligible rating or may affect the overall rating.
To begin, click the "Apply" button and follow the prompts. If you haven't already, register and establish a USAJOBS account. After you register online, click the "Apply" button to complete the online assessment questionnaire, and submit all required documents. Please be sure to click "Submit Application" to complete the application process.
You must apply online. Applicants requesting an exception from the online process must contact the Human Resources Specialist or contact point listed in this announcement prior to 12:00 p.m. ET on the closing date.
To return to your saved application, log in to your USAJOBS account and click on "Applications" tab. Click on the "Position Title," and then select "Update Application" or "Additional Application Information" to continue.
You have until 11:59 p.m. ET (Eastern Time) on the closing date of this announcement to complete the application process. You are limited to selecting only 5 location(s) listed for which you would like to be considered.
You will be notified of the status of your application via e-mail at various points in the process. Please notify us if your contact information changes after the closing date of the announcement.
You may update your application at any time prior to the closing date of the announcement. You may also check the status of your application online 24 hours a day, 7 days a week through USAJOBS by signing in and selecting "Application Status."
If you meet all qualification requirements for this position and submit all required documentation within the specified time frames, you may be contacted to schedule a virtual interview. Employment offers will be made beginning in March 2025 or later.
The Fair Chance Act prohibits inquiries concerning an applicant's criminal history information unless the hiring agency has made a conditional (tentative) offer of employment to the applicant. An applicant may submit a complaint, or any other information, to the agency within 30 calendar days of the date of alleged non-compliance by contacting the Federal Deposit Insurance Corporation’s Human Resources Staffing Policy and Accountability team at HRPolicyTeam@fdic.gov/.
Thank you for your interest in working for the Federal Deposit Insurance Corporation.
The Federal hiring process is set up to be fair and transparent. Please read the following guidance.
This job originated on www.usajobs.gov. For the full announcement and to apply, visit www.usajobs.gov/job/812495700. Only resumes submitted according to the instructions on the job announcement listed at www.usajobs.gov will be considered.
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The Federal Deposit Insurance Corporation (FDIC) is one of the most respected forces in America's financial community. Our mission is to maintain stability and public confidence in the nation's financial system by insuring deposits, examining and supervising financial institutions, and managing receiverships.
