Summer Internship - Risk Management

Internship Chicago, Illinois

                         Summer Internship – Risk Management

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 won’t 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 Risk Management Group. Successful individuals should be following an academic track in Business, Finance, Statistics, Computer Science or Accounting.

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.

Within the Risk Management group at the Bank, there are several departments such as Market Risk, Credit Risk and Operational Risk. Here are examples of departments you will find yourself working in.

Market Risk

  • Minimize the risk of default and loss from credit extended to our members and non-members by establishing standards for credit risk management and limits on credit risk taking
  • Manage member-related credit risk by collateralizing our risk exposures
  • Protect our member's investment in the Bank through maintaining zero credit losses on advances
  • Analyze the risk of default and loss from the Bank’s fixed-income security and whole loan mortgage portfolio

Credit Risk

  • Minimize the risk of default and loss from credit extended to our members and non-members by establishing standards for credit risk management and limits on credit risk taking
  • Manage member-related credit risk by collateralize our risk exposures
  • Protect our member's investment in the Bank through maintaining zero credit losses on advances
  • Analyze the risk of default and loss from the Bank’s fixed-income security and whole loan mortgage portfolio                   
  • Conduct analysis of industry trends or potential risks within a specific financial market
  • Participate in and learn about model validation, model back-testing, and model bench-marking
  • Credit analysis of a large MBS/ABS portfolio through the use of financial modeling, security analysis, and sector research

Operation Risk

  • Collecting, evaluating and monitoring operational risk metrics
  • Streamlining reporting to help automate operational risk reporting
  • Creating presentations for committees that reports on operational risk
  • Assist in collecting and evaluating events, findings, and other inputs to inform risk assessments
  • Learning about operational risk programs such as scenario analysis and event programs
  • Assisting with new projects and presentations


REQUIREMENTS

  • Applicants should be enrolled in a undergraduate or graduate program at an accredited institution
  • Should have a GPA of at least 3.0 and be in good academic standing. Transcripts will be requested
  • Desired fields of study include Business, Finance, Statistics, Computer Science or Accounting
  • Internships will start June 2020. The start/end date may be flexible based on school schedule.
  • Previous risk/compliance internship and/ or project work experience preferred
  • Intermediate knowledge of Excel and Access is required