Institute for Financial Management and Research (IFMR) in Chennai Internship Opportunities – 2008

Institute for Financial Management and Research (IFMR) in Chennai, India, is currently accepting internship applications for its Total Immersion Program in Finance and Development (TIP/FD) 2008.

The Institute for Financial Management and Research is an academic and research institution based in Chennai. Established in 1970, IFMR is recognized as an Institution of national importance by the Ministry of Finance for tax purposes. IFMR’s mission is to contribute to growth and development efforts in India with a focus on financial services and on f inancial management within Indian companies and governments.

IFMR principally seeks to add value by conducting and participating in rigorous research programs both theoretical and applied. In pursuit of its mission it also of fers advanced training programs which include long-term Masters and Doctoral degree programs as well as specialized short-term courses.

IFMR has set up the following specialized research Centres:

· Centre for Micro Finance (CMF) ( )

· Centre for Insurance and Risk Management (CIRM) ( )

· Centre for Development Finance (CDF) ( )

· Small Enterprise Finance Centre (SEFC) ( )

· Centre for Advanced Financial Studies (CAFS) ( )

· Centre for Innovative Financial Design (CIFD) ( )

· J-PAL South Asia at IFMR (J-PAL South Asia) ( )

IFMR launched the TIP/FD (Total Immersion Program in Finance and Development) in 2006 and repeated the Program in 2007. As part of this summer internship program, IFMR hosted students f rom various Indian and international institutions including Columbia University, New York University, Kennedy School of Government (Harvard Uiversity), University of California (San Diego), Institute for Rural Management in Anand (Gujarat) and Indian Institute for Forest Management (Bhopal) etc. and provided them an opportunity to apply their classroom training to live projects, undertake applied research in the Indian context, and gain a better understanding of

the financing needs at different levels of development.

IFMR’s TIP/FD 2008 is jointly organized by the Centre for Micro Finance (CMF), the Centre for Development Finance (CDF), the Centre for Insurance and Risk Management (CIRM), the Small Enterprise Finance Centre (SEFC), the Centre for Innovative Financial Design (CIFD) and the IFMR Trust. Students are encouraged to use the internship as the basis for graduate research, and submit work for consideration for publication in the IFMR Working Papers series.
The program begins June 2nd, 2008 and will end in August 2008 with a series of seminars by interns in Chennai.

Centre for Microfinance
aims to participate in maximizing access to financial services and its impact on the poor through rigorous research and research-based policy advocacy. The Centre supports research initiatives aimed at understanding the innovations and designs that have the potential to overcome information asymmetries characteristic of this market and expanding access to f inancial services for underserved segments. The 2008 summer internship program will comprise a 2-week intensive training session followed by an eight-week internship based at a project site anywhere in India involving f ield based action research, sector-wide policy studies, or data analysis. Interns can choose to work on an existing CMF project or on new projects, designed in collaboration with the Centre for the 2 month internship period.

For further details visit .

Centre for Development Finance focuses on research activities that help in improving the efficiency and targeting of public and private financing for infrastructure and services. CDF conducts research and implements projects aimed at improving our understanding of government expenditure and taxation, and identif ies priority areas for financing public goods. CDF currently seeks interns for the summer of 2008 for project-specific work. Interns will be either based in Chennai or on a project site around India and will be involved in a variety of activities, which may include survey research, feasibility/cost-benefit analysis, or field-based action research. For further details please visit .

Centre for Insurance and Risk Management (CIRM) is undertaken as a sectoral effort to act as an enabler to ensure that a range of customized products, processes offer risk management solutions and social security for low income households. It is an action research, product development group focused on developing and delivering market ready micro-insurance and risk management services for vulnerable sections in India. The Centre collaborates with Insurers, Re-insurers, Research Institutes, Community Based Financial Institutions, International Organizations and the Regulator to develop insurance programs that build an enabling environment in the country to ensure outreach and ef ficient delivery. CIRM currently seeks interns for the Summer of ‘08 to work with the experts in developing the following specif ic products, (i) microinsurance compendium; (ii) micro-pensions (iii) developing weather index insurance product (iv) developing a range of micro-insurance products under the Emerging Channels Fund (EmChaF). The internship would involve f ield visits as well as data analysis and computing to develop customized f inancial risk hedging products for the underserved. For further details please visit .

Small Enterprise Finance Centre aims to advance the research and practice of SME f inancing and growth in India and ultimately to help develop a vibrant SME sector. The SEFC invites applications for interns to work on existing projects with full time Research Associates or to develop a f ramework for future projects of the Centre. Internships will entail a combination of high level interviews, f ieldwork, and in-off ice research. Applicants with a strong interest in field research and on small businesses are encouraged to apply. For further details please visit .

Centre for Innovative Financial Design (CIFD) believes that financial innovation is needed to fill the unmet f inancial needs of the rural poor in emerging markets. CIFD is at the f rontier of this innovation. It brings together academics (to spur new ideas) and f inancial service providers (to design and implement products) to create, test and refine novel financial products and ideas. CIFD seeks interns to work as a core member of its team for summer 2008. Interns will be involved in helping implement an ongoing project, starting the field research for a new project, or conducting a summer project to gain insight into the f inancial lives of the rural poor. IFMR Trust is a commercial entity that aims to identify and invest in commercial opportunities that leverage the competitive strengths of low- income households in India (both as producers and consumers) with an emphasis on those that are living in remote rural locations of the country. IFMR Trust will implement this through a dedicated fund the IFMR Trust’s Network Enterprises Fund. This is a Rs. 6 billion ($150 million) fund that will invest in multiple sectors – including in a national rural f inancial services channel. IFMR Trust expects that by creatively harnessing the productive capability and purchasing power of low- income households and sharply focusing on poorly served households situated in remote locations through highly scalable formats and the use of advanced technologies which allow for thin-client operations, commercial return on equity can be delivered to investors. IFMR Trust brings to this effort expertise in the design and delivery of f inancial services, a deep understanding of mainstream markets, practical insights gained from action-research undertaken by its affiliate – The Institute for Financial Management and Research (IFMR) and partnerships with large companies and NGOs; all in the context of remote rural India. IFMR Trust seeks interns to work as a core member of its team for Summer 2008. For further details please visit . For more information on projects completed by past interns, please visit

While internships are unpaid, IFMR will cover expenses as per its internship policy. IFMR will not cover international travel or other related expenses. The best intern will be given a financial award by the IFMR Trust at the end of the internship.

How to apply

Please apply online at

Your application should include the following:
1. Resume (please specify Indian languages you speak, if any)

2. A statement of interest (1 page) indicating your interest and why you would like to apply to IFMR for an internship. Please let us know, if you can, topics you would be interested and why you would like to apply to IFMR for an internship. Please let us know, if you can, topics you would be interested to work on for your internship and also mention whether you would prefer to work on an existing project or on a stand alone project.

3. A writing sample (1-2 pages)

4. Please indicate if you plan to / have already secured funding for expenses during your internship

5. Please indicate which of the Centres you are applying to. Candidates are encouraged to apply early for the best matching of their interests and experience with available projects. Incomplete applications will not be considered.

Applications should reach us on or before April 30, 2008.

For a unique opportunity to actively explore finance developments in India, please apply soon.

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