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Federal Deposit Insurance Corporation
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Emily Bailey

Major: Economics; International Politics
Hometown: Jacksonville, FL
Chapel Executive Intern

How did you learn about this opportunity?

As a recipient of the The Virginia Todd Chapel Executive Internship Program, I first heard about this opportunity through my counselor in the Economics Department. I also researched Enrichment Funding opportunities on the Career Enrichment Network webpage once I received an internship offer.

Tell us a little bit about your experience.

I have thoroughly enjoyed my experience as an intern in the FDIC's Financial Management Scholars Program. I have received amazing on-the-job training, and have participated in three real bank examinations throughout the Baltimore-D.C. area. I am interning in the Risk Management Division, so I get to travel to different financial institutions every 3-4 weeks and work with other FDIC examiners to look at things like capital, liquidity, market risk, and asset quality of the various banks. I am doing real financial analysis and bank accounting which is very interesting. On a daily basis, I am constantly learning how to analyze different financial documents and apply them to the bigger picture in order to assess each bank's overall condition. Everyone knows that their money is insured by the FDIC, but not many people know what goes on behind the scenes to make that possible. In order for banks to stay insured in the event of another crisis, their risk profile must be routinely examined by the FDIC. I love the fact that I am participating in meaningful work to help promote confidence in our nation's financial system.

I love the fact that I am participating in meaningful work to help promote confidence in our nation's financial system.

How did this experience impact you academically?

I think this internship experience with the FDIC has had an immense impact on me academically. I am taking all my knowledge that I have acquired in my numerous economics classes at Penn State, and applying them on the job doing real economic and financial analysis. In looking at the financial condition of the various banks that we examine, I must always keep in mind the underlying trends in the overall economy, on a local and national scale. My classes at Penn State have given me the foundation necessary to understand what I'm doing on a daily basis during my internship. I have put my skills from class into practice doing real-life work, and I believe that after doing this internship I have a much greater understanding of the financial system, the banking industry, and the economy as a whole, which will help me in my future academic endeavors.

What are your career goals and plans?  How did this experience impact them?

My career goals have shifted since I started this internship. I never thought that I would work in a finance or accounting related field, however I have thoroughly enjoyed applying my passion for economics during this internship. I have worked extremely hard this summer to prove myself as a strong and capable worker, and I am hoping to receive a permanent position at the conclusion of the internship. If selected, I would work for the FDIC as a Financial Institution Specialist and eventually become a Commissioned Risk Examiner. There are numerous opportunities for career advancement within the FDIC, and I love everything about the corporation. In addition to working as a bank examiner, once in the corporation there are several opportunities to work in a more specialized field like capital markets or economic analysis. My ultimate goal is to stay with the FDIC after graduation and launch my career from there.

Would you recommend this experience to other Liberal Arts students?

I would 100% recommend this internship with the FDIC to other Economics students in the College of the Liberal Arts. I believe my economics courses through the College of the Liberal Arts have given me an invaluable education and skill set which not all majors seem to provide. This internship is an incredible opportunity that provides real, meaningful work, not just administrative tasks that are common in many other internships. The corporation truly values all employees, including interns. In addition, the FDIC prioritizes former interns in hiring permanent positions.

For more information on internships for Liberal Arts students, visit our website.

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