ECON Undergraduates Blog

U.S. Commodity Futures Trading Commission - Division of Enforcement Summer Internship

Posted: 05 Mar 2018 10:37 AM PST

Forensic Economist Intern Program: May-August 2018 (Unpaid)

The Commodity Futures Trading Commission (CFTC) is an independent agency mandated to regulate commodity futures, swaps and options trading in the United States. Through oversight and regulation, the CFTC fosters open, competitive, and financially sound futures and option markets, and protects market participants against manipulation, abusive practices, and fraud related to the sale of commodity and financial futures and options.

The Division of Enforcement investigates and prosecutes alleged violations of the Commodity Exchange Act and CFTC regulations. For example, the Division brings enforcement actions against: individuals and firms registered with the Commission; those who violate these laws in connection with their trading commodity futures and options on designated domestic exchanges; those who improperly market futures and options contracts to retail investors or perpetrate Ponzi schemes; those who use manipulative or deceptive schemes in connection with commodities, futures or swaps; and those who engage in disruptive trading practices. The Division bases investigations on information it develops independently, as well as information provided by other Commission Divisions, industry self-regulatory associations, state, federal, and international authorities, and members of the public. At the conclusion of an investigation, the Division may recommend that the Commission initiate administrative proceedings or seek injunctive and ancillary relief on behalf of the Commission in United States District Courts around the country.

Description of the Program:
The Division of Enforcement selects graduate or undergraduate candidates seeking a degree in Economics or other quantitative disciplines each semester to work as unpaid Forensic Economist Interns in its Washington, D.C. headquarters. Participants will work with the Division's Forensic Economist Unit for approximately twenty (20) to forty (40) hours per week. Interns may arrange to earn course credit through their school for work performed during their CFTC internship.

The intern serves as a technical expert for assisting Division of Enforcement staff in conducting legal investigations into certain activities observed in derivatives markets. The intern will utilize empirical research and analytical tools to advise Division of Enforcement attorneys, investigators and economists on assigned commodity markets to assess whether trading conduct by certain entities is potentially in violation of anti-manipulation or anti-disruptive trading practice provisions of the Commodity Exchange Act or related Commission Regulations. Interns will also have the opportunity to attend Industry/Legal/Technical Training Programs alongside CFTC staff on such topics as futures trading, electronic markets, swaps, energy derivatives, international futures markets and regulation, forex, and trade practices.

Qualifications:
Applicants should possess strong writing and analytical skills, and preferably, possess experience with financial instruments – commodities, derivatives, securities, and foreign exchange; completed coursework related to econometrics, data analysis techniques and financial regulation is also highly desirable. All applicants with a strong interest in financial regulation, investigation, and data analysis are welcomed and encouraged to apply.

If seeking college credit, a student advisor may be required to certify an Intern's participation in this program. The student advisor will ensure that the appropriate credit is given to the Intern for participating in this program if offered by their school.

Applicants must be U.S. Citizens. Although Interns are not employees of the CFTC, they are required to abide by the rules of the Commission's Code of Conduct pertaining to, among other things, futures transactions, conflicts of interest, and the confidential nature of information obtained in their work at the CFTC.

How to Apply:
Application materials may be sent via email to Dr. John Buffington ( jbuffington@cftc.gov) by March 9 2018. Submit the following documents in your application package:
• Cover letter;
• Resume;
• Transcript (unofficial transcript is acceptable).

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