Deadline to Apply: March 30, 2012
Position Description:
Recognizing that internships are often the foundation of informed career choices, the Diversity Internship Program was established in 1990. Today, with the co-sponsorship of J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Samuel A. Ramirez & Co., Inc. and Wells Fargo Securities, these internships provide an established point of entry into the business of public finance. Beginning in July of each year, up to four interns are selected for the year-long program which includes two six-month terms. One term is spent working at the New York State Homes and Community Renewal on single-family and multifamily debt issuance, real estate finance, and mortgage insurance issues. For the other term, the interns will work at one of the co-sponsoring private sector firms where they function as analysts in the public finance arena.
Recognizing that internships are often the foundation of informed career choices, the Diversity Internship Program was established in 1990. Today, with the co-sponsorship of J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Samuel A. Ramirez & Co., Inc. and Wells Fargo Securities, these internships provide an established point of entry into the business of public finance. Beginning in July of each year, up to four interns are selected for the year-long program which includes two six-month terms. One term is spent working at the New York State Homes and Community Renewal on single-family and multifamily debt issuance, real estate finance, and mortgage insurance issues. For the other term, the interns will work at one of the co-sponsoring private sector firms where they function as analysts in the public finance arena.
After admission to the Program, each intern is assigned a mentor,
enrolled in a finance course and given the opportunity to be involved in all
aspects of housing finance.
Responsibilities can include, but are not limited to:
- Analyzing a developer’s proposal for a
low-income housing development
- Producing cash flows for new money issues and refundings
- Preparing presentations to credit rating agencies
- Organizing the mailing of offering documents for a bond issue
- Participating in bond pricing calls
- Reviewing documents for, and assisting at, bond closings
- Assessing the creditworthiness of a housing development and
underwriting it for mortgage insurance.
Program mentors work closely with interns to develop strong resumes,
refine interviewing skills, identify potential employers, and develop an
understanding of various firms’ recruiting
schedules and requirements. Successful completion of the internship has
resulted in employment opportunities in both the public and private sectors; however, it
is not an assurance of future employment.
The program is open to students who have, or expect to receive, a
baccalaureate degree in May/June 2012. To be eligible, students must be a New
York State resident who are permanent residents of the United States.
Individuals with advanced degrees or who are in advanced degree programs are
not eligible. Students who are members of a group that has been historically
under-represented in the financial services industry are particularly
encouraged to apply.
Successful candidates must have an interest in finance, be familiar
with governmental institutions, and have the willingness to work hard in the
furtherance of an exciting and rewarding career. Quantitative ability, as
demonstrated in courses such as economics, business administration, or
mathematics, is important, but it is not necessary to have majored in one of
these areas. The salary for the one-year internship is $40,000 plus medical
benefits.
- Minimum 3.0 GPA
- A cover letter of introduction which outlines your interest in
public finance, how the internship relates to your academic and/or career
goals, why you would like to participate, and what qualifications distinguish
you from other potential interns
- Your resume
- Unofficial college transcript
- A list of three references
- An essay of no more than 500 words, which describes the ways in
which your background and/or experience would contribute to a diverse
professional environment. You may discuss your ethnic, racial, cultural,
familial, economic and/or other biographical factors as they have impacted on
your life and accomplishments and would contribute to a diverse professional
environment.
Salary:
$40,000/year
$40,000/year
To Apply:
Applications should be submitted via Email: diversityinternship@nyshcr.org
Applications should be submitted via Email: diversityinternship@nyshcr.org
Contact:
Maria Berrios
Assistant Vice President, Deputy Director of Human Resources
641 Lexington Avenue
New York, NY 10022
mlberrios@nyshcr.org
(212) 872-0715
