WSSB – Preparing our Future Banking and Community Leaders
Western States Banking Internship Network
Sponsored by the Western States School of Banking in collaboration with New Mexico State University Department of Finance
Purpose
The Western States Banking Internship Network creates a connection between the regional banking institutions that offer internships and the college students seeking banking internship opportunities.
Learn More about Internships and How to Participate
An internship is a short-term period of practical, supervised on-the-job training in a real world setting that is closely related to the intern’s field of study. The experience is designed to create learning opportunities that supplement the student’s formal study. Some internships can result in the award of academic credit to the intern.
Most internships are paid positions. While some employers offer voluntary, unpaid internships, many of the most talented college students depend upon earnings from part-time and summer jobs to support themselves. These students are unable to participate in unpaid internships.
Any employer can offer short-term employment to college students and call the job an “internship”. That does not mean, however, that the work will be treated as an “internship” at a university and result in the award of academic credit.
Each university and academic department will have its own requirements for the awarding of academic credit for the internship experience. Interns should be responsible for meeting with their academic department head or advisor to obtain details on such requirements.
Positions which are purely clerical or do not include substantial learning opportunities are not properly called internships and do not result in the award of academic credit. These jobs are valuable, however, because they provide college students with the opportunity to earn money needed for college. If you would like to hire college students for these types of jobs, please use the NMSU online community jobs board provided by Student Employment Services.
Internships offer an effective way for banks to connect with some of the brightest and most highly motivated students.
Banks are able to assess each student's "fit" with their organization and receive a preview of the student's ability.
Internships create a pipeline of quality candidates to fill entry level needs. Banks enhance recruitment and retention outcomes, hence, improve their "bottom line."
Internship programs provide an invaluable contribution to the education afforded by universities, and as such, result in many intangible benefits such as relationship building and networking.
Internships can bridge the gap between college and the work world, allowing students to experience the roles, expectations, and behaviors of the professional arena.
Networking opportunities are gained that are valuable in shaping their future careers.
Students gain credentials for their resumes.
Internships provide an opportunity for students to test compatibility of their chosen major and company, in advance of graduation and full-time employment.
1. Develop a list of tasks, experiences and events in which a college intern might participate. From this list, develop an intern job description. The description may include “special projects” that the bank’s current staff has been unable to find time to complete!
2. Identify an intern “mentor” and “supervisor” within the existing bank staff. These responsibilities may be assigned to a single person or two different individuals. Make sure you select individual(s) who are really committed to devoting the time necessary to create a successful internship. These individuals are the intern’s “teachers” and, ideally, will make the effort throughout the internship period to identify learning opportunities for the intern, as well as including the intern in social activities.
4. Decide how you want to recruit your intern(s). Recruiting can be as simple as posting your internship position on this networking website and notifying the university banking program coordinator. Or, if you want to take a more pro-active approach, you can also arrange to actively recruit students through the university career services office. If you are recruiting for entry-level positions at the same time, you may even decide to set up a booth at a university career fair.
NMSU Finance Department
Internship Course Requirements
Students who are selected for qualifying internship positions can usually earn academic credit by signing up for an internship course at NMSU. In the Finance Department, internships are offered under FIN 391 or FIN 491. Registration for these courses requires a special studies permit that will be provided only when the student has produced proof of qualifying professional employment that is closely related to the student’s major field of study, and an internship assignment agreement signed by both the supervising instructor and the student.
Students enrolled in internship courses at NMSU are required to complete academic assignments during the internship period, under the direction of a supervising instructor at NMSU. Academic assignments may vary by department and instructor. In addition, most internship instructors require students to obtain a job performance evaluation from their supervisor at the internship job, and to submit that evaluation for the purpose of determining the grade to be awarded to the student for the course.
Grades will be assigned to students enrolled in internship courses by the supervising instructor at NMSU. Grades will be based upon the student’s performance in completing the academic assignments and/or the evaluation of the student’s work performance by the intern’s employer. Concerns about grades should be discussed with your internship instructor at NMSU.