Brief phone interview with the senior recruiter. He describes the internship and you speak about your experience, goals and education to see if it's a good fit. If you seem like a good fit he will ask you to send in your transcripts (3.0+ GPA, 3.0+ GPA in finance and accounting classes) and submit an official job application. If management approves then you can schedule the second round, which is an in-person interview with the hiring manager for the office, followed by a phone interview with the principal for the office. I heard back later that day.