Urban Leadership Program

Urban Leadership Fellows Program

In 1992, the Youth Education Fund Committee of The Municipal Forum of New York, Inc. developed the Urban Leadership Fellows (ULF) Program with the mission to introduce talented young men and women to the municipal securities industry and inspire them to pursue careers in the field. The ULF Program, which is sponsored by The Municipal Forum, is a paid summer internship program for graduating seniors from New York City high schools who have expressed interest in careers in the finance industry.

Through the ULF Program students are able to learn about the municipal securities industry first-hand and experience the day-to-day workings of marketing, trading, underwriting, issuing and placing municipal securities, the legal procedures underlying the authorization, sale, issuance, payment and delivery of municipal securities; municipal credit research and analysis; or other aspects of the municipal securities business.

In 1996, The Municipal Forum engaged Futures and Options (FAO) as a partner to coordinate and manage the ULF Program with the goal of expanding the internships from four to six placements a year and deepening its educational component. FAO, which began in 1995 as the Varied Internship Partners Program, has coordinated 3,000 internships at 400 businesses and nonprofit organizations in New York City since its inception. The partnership between Futures and Options and the Youth Education Fund Committee of The Municipal Forum has directly contributed to the success of the ULF Program. From 1996 to present, the number of ULF interns has steadily risen. The goal for each summer is to offer 25 to 30 qualified students six-week summer internships through participating Municipal Forum firms. Since initiating the program in 1996, The Municipal Forum’s ULF Program has provided 317 students with paid summer internships.

The ULF Program currently draws students from the New York City Department of Education’s Academy of Finance programs and the Inner-City Scholarship Fund high schools. In addition to an interest in a career in finance, law or banking, the criteria for intern selection includes excellent computer skills, a strong academic record, and a personal essay. Each February, the Youth Education Fund Committee works with FAO to recruit Municipal Forum firms as internship sites and the students receive the ULF Program applications through the designated representatives at the Academy of Finance and the Inner-City Scholarship Fund. Candidates submit their applications through their school representative. FAO staff review the applications and interview the qualified candidates in May. Students are selected as interns based upon their individual qualifications and the needs of the internship sites. Each year more than double the number of qualified students apply; therefore, the ULF Program admission process is highly competitive.

Once the placements are finalized, FAO notifies accepted students about their internship sites as well as the schedule of ULF Program events, which they are required to attend. The six-week internships begin the week following the July 4th holiday. Before beginning at their sites, interns attend two FAO orientations, an opening breakfast with their internship mentors and a full day at “Municipal Bond School.” During the six-week internship, students receive presentation and public speaking training at a two-part seminar facilitated by experts in the field, and a FAO career development workshop. Interns are supervised at the work site by their mentors and by FAO staff, who meet with each mentor and intern at his or her site. The program concludes with a luncheon for the interns and mentors, where each intern receives a $500 book grant from The Municipal Forum.

The Youth Education Fund Committee also awards $1,000 scholarships each summer to alumni who maintain a cumulative grade point average of 3.0 or better in their freshman, sophomore and junior years of college. An additional $1,500 scholarship is awarded to the student who submits the best essay describing their community service.

In 2008, young professionals working in public finance assisted The Municipal Forum and FOA with a pilot mentoring program designed to enrich the summer internship experience of the ULF Program participants. The goal is to provide the interns with a volunteer mentor to whom they can turn to for professional advice as they enter into the world of public finance and business.

For further information about the ULF Program, please contact Futures and Options at 212-601-0002 or by email at info@futuresandoptions.org. If you are interested in hosting an ULF intern, please contact, Digmarie Ruiz, Futures and Options ULF Program Coordinator at (212) 601-0002.