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Federal Reserve Bank of Philadelphia · 2 days ago

Summer Intern - Supervision & Regulation, Commercial Real Estate

Philadelphia, PA

Internship

Onsite

Intern

$28/hr - $32/hr

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that make up the Federal Reserve System. They are seeking a PhD level or graduate student with preferred majors in Economics, Finance, or Real Estate to assist in preparing a commercial real estate lease index and contribute to modeling of CRE values/risk.

Financial Services

Responsibilities

The intern will assist on preparing a commercial real estate lease index using CompStak data

The goal is to publish a paper, but this index could also be useful for other FRB applications

Could be used in modeling of CRE values/risk or in monitoring

The intern’s primary task will be cleaning and preparing the data

We will start running a model if there is time

Weeks 1-2: Introduction to CRE, lease indices, and data

Weeks 3-5: Data work and cleaning

Identifying repeat leases will be challenging

The data does identify renewals, but what if the tenant signs a new lease for a different floor in the same building?

And other such questions

Weeks 5-10: Begin working on the model and exploring feasibility

Will have a set of figures/chart/tables I request the intern create, and I will guide them through that

Qualification

PythonStataMS Office SuiteVerbal communicationWritten communicationProblem solvingAttention to detailOrganizational skillsIndependent workPresentation skills

Required

A master's or PhD student pursuing a degree related to Economics, Finance, or Real Estate

Experience in Python, Stata, and MS Office Suite

Preferred

Verbal and written communication skills

Problem solving skills

Attention to detail is needed to make sure that the data work has been performed correctly

Organizational skills to annotate and document their work such that others can pick up where the project left off

Ability to work well independently with little supervision, the project manager will be available to assist

Strong presentation and communication skills to share what they have completed concisely and effectively

Company

Federal Reserve Bank of Philadelphia

Glassdoor4.0

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government.

Founded in 1914