Intern CLE Podcast - Episode 007 – Federal Reserve Bank - Stephanie Weaver
Stephanie Weaver’s current role - Senior Recruiter and Diversity Talent Lead
The Federal Reserve Bank of Cleveland is one of 12 Reserve Banks that together with the Board of Governors in Washington DC and the Federal Open Market Committee (FOMC) comprise the Federal Reserve System, which was created by Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. As the US central bank, the Federal Reserve formulates and implements monetary policy—the actions undertaken by a central bank to influence the availability and cost of money and credit to help promote national economic goals—provides payment services to financial institutions and the US government, and supervises banking and other financial institutions.
There are 1,000 employees over 3 locations that fall under the Cleveland office – Cleveland, Pittsburgh and Cincinnati. The internship program is primarily in Cleveland, but this summer an intern has been added to the Pittsburgh location. Average intern class is 18-20 students. The Federal Reserve Bank does hire from their internship program. They are focusing on increasing their diversity in hiring and go to national conferences for this initiative: National Black MBA Association & Prospanica.
Interns tend to work in the research department – economics, finance, IT. They look for students with at least a 3.0 GPA who are willing to learn, ask questions and have strong communications skills. A housing allowance is also provided for our of town interns.
Day in the life – Last year’s interns helped plan the Economic Policy summit we hosted last year. They managed social media and greeted guests. Some of the IT interns worked on application development projects. Some students attended an actual bank exam. Interns go through HR orientation and receive mentors as well. Stephanie also meets with them throughout the summer, so the students have another resource for questions.
What makes it Rock - Kick off luncheon with VP, tour of Cleveland on Lolly the Trolley, volunteer day at the Cleveland Foodbank, brown bag lunches with the leaders, Intern Expo – at the end of July the interns present a tri-fold board to visualize the work that they did for the summer. Everyone in the company is invited to the Intern Expo. This year Stephanie is adding a Strengths Finder assessment and training on communication styles.
Resources – The MUSE
Around Town in CLE
Vizion Solutions has rebranded as Vizion360! It has been great to be a part of the rebranding process. HR recruiting has so much overlap with marketing when it comes to the quality and image of the company’s brand. I have enjoyed being involved in our recent rebranding and marketing initiatives. Check out our new website.
Thank you to Angela Finding at The Greater Cleveland Partnership for inviting me to the Internship Round table on May 2nd for a group discussion on internships in Northeast Ohio.