Model Development Intern

Santander Bank; Boston (MA); On-site; USD 62,400 - 83,200; Full time

Job summary

Santander US is offering a Summer Internship Program in Boston, MA, beginning in June 2026. You will join a large financial institution, work with experienced modelers, and gain hands-on experience in data preparation, model design, and governance.

As a Model Development intern, you will build and refine statistical and machine learning models for risk management, analyze large datasets, support forecasting and stress testing, and prepare insights for senior risk managers and regulators.

Qualifications

• Undergraduate or graduate student with expected graduation December 2026 or May/June 2027.
• Area of study: Finance, Economics, Statistics, Mathematics, Data Science, CS, Engineering, or Business.
• Cumulative GPA 3.0 or above.
• Strong English communication skills, both written and spoken.
• Analytical thinker with attention to detail and time management.

Responsibilities

• Support design and improvement of forecasting and stress testing models.
• Clean, transform and analyze large datasets for modeling inputs.
• Assist in back testing, benchmarking and sensitivity analyses.
• Help prepare model documentation and summarize insights for stakeholders.
• Present findings to senior risk managers and auditors.

Skills

Python

R

SQL

SAS

Tableau

Teamwork

Communication

Education

Undergrad or grad student

Expected graduation Dec 2026 or May/Jun 2027

Tools

Python

R

SQL

Job description

Model Development Intern

Country: United States of America

Your Journey Starts Here:

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

An exciting journey awaits, if you are interested in exploring the possibilities We Want to Talk to You!

Your Journey Starts Here:

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

an exciting journey awaits, if you are interested in exploring the possibilities We Want to Talk to You !

What you will gain

Our Summer Internship Program, beginning in June 2026, provides immersive training and introduction to Santander. You will be combining this training with practical experience on both technical and interpersonal skills, helping your development during the internship.

The 2026 Santander Summer Internship Program is for undergraduate students and/or graduate level students who have an expected graduation date between December 2026 and May/June 2027.

Santander US is a nationwide business with locations across the country. This position is located in Boston, MA .

• The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.

Salary: Graduate: $83,200

Undergraduate: $62,400

Before applying, please keep in mind that our internship program does not offer any relocation assistance.

What we offer you

You will be given exposure to the innerworkings of one largest financial institutions in the world. Working with best-in-class teams and contributing to projects that drive innovation across the organization. As part of the internship program, you will participate in structured professional development opportunities, create connections with peers and meet leaders across Santander.

As a Model Development intern, you’ll play an integral role in building and refining statistical and machine learning models that support critical financial risk management strategies. This internship offers a unique opportunity to work with large-scale datasets, contribute to regulatory and business-facing analytics, and gain exposure to the full model development lifecycle-from data preparation and model design to performance evaluation and governance. You will collaborate with experienced modelers, risk analysts, and business partners to enhance loss forecasting and stress testing capabilities, helping to ensure the organization’s resilience in diverse economic scenarios.

Responsibilities of the Model Development internship role may include but are not limited to:

• Support the design, implementation, and improvement of forecasting and stress testing models using statistical and machine learning techniques.
• Clean, transform, and analyze large datasets to uncover key risk drivers and prepare structured inputs for modeling.
• Assist in executing back testing, benchmarking, and sensitivity analyses to evaluate model performance and robustness for model validation and testing.
• Contribute to the preparation of detailed model documentation outlining methodology, data sources, assumptions, and limitations in compliance with regulatory and internal standards.
• Help summarize model insights and prepare presentations for senior risk managers, auditors, and regulatory bodies.

What we are looking for

• An undergraduate student and/or graduate student with an expected graduation date between either December 2026 or May/June 2027 .
• Area of Study: Finance, Economics, Statistics, Mathematics, Data Science, Computer Science, Engineering, or Business.
• Cumulative GPA is 3.0 or above .
• Demonstrates intellectual curiosity and courage.
• Strong English communication skills both written and spoken required.
• Analytical thinkers with a strong attention to detail.
• Organized and able to manage time and multiple tasks efficiently.
• Ability to work independently on special projects.
• Ability to effectively contribute to a team environment.

It would be nice to have

• Coursework in or exposure to accounting, finance, economics, or business. (Preferred)
• Experience in Microsoft Office products. (Preferred)
• Experience in analytical or modeling tools such as Python, R, SQL, SAS, or Tableau. (Preferred)

Risk Statement:

We embrace a strong risk culture and all our professionals at all levels are expected to take a proactive and responsible approach toward risk management.

EEO Statement:

At Santander, we value and respect differences in our workforce. We actively encourage everyone to apply. Santander is an equal opportunity employer . All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions:

Frequent minimal physical effort such as sitting, standing and walking is required for this role. Depending on location, occasional moving and lifting light equipment and/or furniture may be required.

Employer Rights:

This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate your employment at any time for any reason.

What Else You Need To Know :

The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.

Link to Santander Benefits:

Santander Benefits – 2025 Santander OnGoing/NH eGuide (foleon.com)

Risk Culture:

We embrace a strong risk culture and all of our professionals at all levels are expected to take a proactive and responsible approach toward risk management.

EEO Statement:

At Santander, we value and respect differences in our workforce. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions :

Frequent minimal physical effort such as sitting, standing and walking is required for this role. Depending on location, occasional moving and lifting light equipment and/or furniture may be required.

Employer Rights:

This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate your employment at any time for any reason.

What To Do Next:

We are committed to providing an inclusive and accessible application process for all candidates. If you require any assistance or accommodation due to a disability or any other reason, please contact us at [e-mail] to discuss your needs.

Primary Location: Boston, MA, Boston

Other Locations: Massachusetts-Boston

Organization: Santander Holdings USA, Inc.