John Knowles

Summer Intern
John Knowles

Why I chose to apply for a RBNZ summer internship

Last February I was sitting in a library in Maryland when I looked across the room and happened to see a book written by Alan Bollard. I was taken by surprise to see his book, ‘Crisis’, so far from home so I took it out and read it. I was so inspired by the way he navigated our small financial system through the global financial crisis that I decided I wanted to be part of the RBNZ. I applied for an internship and here I am!

What work I’ve been doing as a summer intern

Over the summer I’ve been an intern in the Banks, NBDTs and Enforcement team of the Prudential Supervision Department. This team is responsible for the supervision of our registered banks and non-bank deposit takers to ensure they are meeting the requirements set by our policy team. This is done to help achieve the wider goal of PSD; to maintain the soundness and efficiency of New Zealand’s financial system.

I have been working on a paper regarding the sustainability of bank fee income and the way we monitor that income at the RBNZ. One advantage of the Bank’s small size is that I was given the opportunity to present this paper to a committee including the Governors and other senior managers who then discussed my work and gave me some very helpful feedback.

What else have I been involved with at the Bank

As an intern I have been given the opportunity to attend a large number of committee meetings, presentations and bank engagement meetings which have given me highly valuable insights to the way our financial system is monitored. The Bank also puts on some great social sporting events such as the circumsanctuary run around Zealandia.

This summer has been memorable because

My teammates have been incredibly approachable and supportive which really helped me to get the most out of my time here.

Why I would recommend the internship to others

For all the reasons above! The Reserve Bank is an incredible place to explore economics and finance further because of the exposure it can give you to so many sectors of the financial system, from banking to financial markets and monetary policy. Being a small central bank means the interns are close to the action and are given real work from day one.