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Open nowPosted 27 days ago

Summer Internship - Model Risk Management

fhlbc31 open roles

Pay
$38,800 – $58,100 a year
Where
Chicago
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Your applicationOpen nowSummer Internship - Model Risk Managementfhlbc · Chicago

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The clock on this job

Early applications get read.

8.4% of postings close within 7 days. Measured by our own scanner across the market. fhlbc postings stay open a median of 6 days.

Share of postings closed within
  1. 1.8%1 day
  2. 4.0%3 days
  3. 8.4%7 days
  4. 15.4%14 days
  5. 34.1%30 days
This job: posted 27 days ago

fhlbc median: 6 days open

The posting

At the Federal Home Loan Bank of Chicago, employees come first - that’s why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.

  • Collaborative, in-office operating model
  • Retirement program (401k and Pension)
  • Medical, dental and vision insurance
  • Lifestyle Spending Account
  • Competitive PTO plan
  • 11 paid holidays per year ​

An internship with The Federal Home Loan Bank of Chicago is not like your average internship. We can offer you a dynamic, collaborative and team-focused environment you will not find anywhere else. You will be engaged in projects that will provide you with real world, hands-on experience in the exciting world of financial services. We are currently seeking a summer intern to work in our Model Risk team.

Who are we you ask?

We are a federally chartered corporation and one of 11 Federal Home Loan Banks (FHLBanks) that, with the Office of Finance, comprise the Federal Home Loan Bank System. The FHLBanks were chartered by Congress under the Federal Home Loan Bank Act of 1932 to improve the availability of funds to support home ownership. Each FHLBank is cooperatively owned by member financial institutions in its district and operated as a separate entity with its own management, employees, and board of directors. Our district consists of the states of Illinois and Wisconsin. We are regulated by the Federal Housing Finance Agency, an independent federal agency.

How you’ll make an impact:

  • Support model validation and risk governance through various technical (e.g. data analytics and quantitative modeling) and administrative (e.g. documentation) tasks
  • Identify and report potential model risks to improve the overall quality of models
  • Collaborate with other teams within the Bank to ensure model risk being effectively managed

Model Risk Responsibilities

  • Perform quantitative testing and qualitative review to assist in model validation
  • Work effectively with MRM risk analysts as well as other teams of the Bank and perform ad-hoc analysis to support model-related initiatives
  • Explain and present testing results to MRM, model owners and other stakeholders
  • Research new ways to automate/improve modeling process

Requirements

  • Enrolled in undergraduate/graduate program in a quantitative discipline (e.g. Finance, Economics, Mathematics, Statistics) with GPA at least 3.0
  • Interested in risk management and model validation
  • Basic understanding in fixed income securities and data analysis (SQL/R/Python a plus)
  • Proficient in Microsoft Office suite (Excel, Word, Access, PowerPoints)

Salary Range:

$38,800.00 - $58,100.00

The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc

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