Locations: Approximately 150 positions to be filled annually at multiple locations (see reverse side for the locations being filled under this announcement)
Duration: Three to four-year training program leading to professional certification
Compensation: Starting salaries range from $53,290 to $72,755 per annum, depending on location, with regular
salary increases and an excellent vacation and benefits package.
This is an entry-level trainee position with the FDIC, one of the nation's premier bank regulatory agencies. Financial Institution Specialist (FIS) positions are located at 85 FDIC office locations throughout the U.S. Successful applicants are placed in a 3-4 year training program leading to professional certification as a commissioned Financial Institution Examiner or Resolutions and Receivership Specialist.
The program includes both formal classroom and on-the-job training, and every participant is assigned an individual coach or mentor. Participants receive regular grade and pay increases during the program as they complete established training benchmarks. During the first year of the program, participants perform rotational assignments to become familiar with the Corporation’s major business functions. They are then placed in one of three disciplines to complete the requirements for a commission: (1) Risk Management (to evaluate the financial condition of insured institutions); (2) Compliance/Consumer Protection (to ensure compliance with fair lending, consumer protection, and community reinvestment statutes and regulations); or (3) Resolutions/Receivership Management (to oversee the closure of failed financial institutions and management of the ensuing receiverships).
FISs typically work in teams and often must travel extensively to conduct on-site exams or close failed banks. They assess financial institutions to determine whether the institutions 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, including those relating to consumer protection, privacy, community reinvestment, and fair lending. They also participate in activities related to the closing and sale of failing financial institutions and the management of the ensuing receivership, including the management and disposition of failed bank assets. The FDIC seeks applicants with strong analytical and quantitative skills, knowledge of the basic principles of accounting and finance, the ability to communicate effectively both verbally and in writing, the ability to work both independently and in teams, and an interest in public service.
Minimum Educational and Other Requirements:
1. U. S. citizenship.
2. Completion of an undergraduate or graduate degree at an accredited college or university with a major in business administration, banking, finance, economics, accounting, marketing, or a related field (including mathematics and statistics) within 2 years* of the date of application or by December 31, 2019; and fulfillment of specified requirements for Superior Academic Achievement as an undergraduate or completion of at least one year of study at the graduate level.
*Preference eligible veterans who are precluded from applying to the Recent Graduates program during their 2-year eligibility period due to military service obligations will have their eligibility period extended to apply for open positions upon release/discharge.
3. Completion of at least 24 semester hours (or equivalent) of undergraduate and/or graduate coursework in economics, accounting, finance, business administration, mathematics, statistics, or marketing, including at least 6 semester hours (or equivalent) of accounting coursework, at an accredited college or university.
4. Successful completion of an automated writing assessment, which is provided to applicants after the application period closes.
Available Locations: Applicants may apply for consideration at up to three of the following locations (if more than one location is selected, applicants are required to designate locations in order of preference):
Baton Rouge, LA
Birmingham (Hoover), AL
Boston (Foxboro), MA
Cedar Rapids, IA
Des Moines, IA
Kansas City, MO
New York, NY
Oklahoma City, OK
Philadelphia (Blue Bell), PA
Salt Lake City, UT
San Francisco, CA
Sioux City, IA
Sioux Falls, SD
How to Apply