Summer 2023 Intern – PhD Computer Science, Data Science, Statistics and Mathematics

at Federal Reserve Bank of Chicago
Published January 19, 2023
Location Chicago, United States of America
Category Data Science  
Job Type Full-time  



Federal Reserve Bank of Chicago



Who we are:
One of the most influential, trusted and prestigious financial institutions in the world. The Federal Reserve Bank of Chicago, serving five states, is one of the 12 regional reserve banks in the United States. The twelve banks, along with the Board of Governors in Washington, D.C., make up the nation’s central bank.

What makes us unique?
We are a regulatory bank. This internship gives you the opportunity to intern for a bank that supervises other banks.



Internship Program Details:

The Federal Reserve Bank of Chicago Summer Intern Program is a paid internship that is open to undergraduate, graduate and PHD students.  It begins in June and continues for 12 consecutive weeks. Interns work 40 hours per week and are assigned to one department.


Typical Day:

Project oriented hands-on assignments and professional development activities including a volunteer project. Interns receive a solid overview of the Fed while contributing to their designated Bank department.



We have a collaborative work environment that fosters inclusion. As a public service institution, we reflect all the communities we serve. Interns will have the opportunities to network with subject matters experts and interns assigned to other business areas.


Job Description:

Interested in joining a collaborative team of individuals that delivers modern analytics solutions to business? You will be working with our core Analytics team of Data Scientists, Business Intelligence Analysts, Data Engineers and Product Analysts to deliver advanced analytics solutions that transform data into meaningful insights and help business with data-driven decisions.


You will:

1. Program scripts to ingest, clean, and process structured and unstructured data.

2. Create visualizations, reports, and dashboards to tell stories of the data.

3. Develop Advanced Analytics solutions in aws Cloud.

4. Research machine learning algorithms that can be applied to solve business problems.

5. Develop predictive models using machine learning and deep learning.


Your background:

1. Ideally, Graduate student (Master's or PhD) pursuing a degree in a quantitative field like math, statistics, computer science, data science, engineering.

2. Must have previously taken a course in machine learning/Artificial Intelligence.

3. Programming experience in Python or R.

4. Experience querying databases using SQL.

5. Strong communication skills.


Additional Requirements:

  • All Federal Reserve Bank of Chicago employees must be fully vaccinated against COVID-19, unless the Bank grants an accommodation based on medical condition or sincerely held religious belief.
  • Some of these positions may require the Supervision and Regulations specific requirements explained below. Applicants must be US Citizens or permanent residents with the intent to become US Citizens.
  • As a condition of employment, Federal Reserve Bank of Chicago 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 official if necessary.


This document indicates the general nature and level of work performed by employees within this position. It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee's responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Chicago reserves the right to modify the elements of this job description, as business needs require.


We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status.

Full Time / Part Time

Full 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.