Summer Internship: Collateral Operations & Safekeeping

Fhlbc; Chicago, Northern (IL, KY); Hybrid; USD 39,000 - 58,000; Part time

Job summary

FHLBank Chicago is offering a Summer Internship in Collateral Operations & Safekeeping. This program is designed for current undergraduates seeking hands-on experience in collateral management, safekeeping, and bank operations.

You will learn to monitor collateral positions, evaluate mortgage and security eligibility, reconcile pledged assets, and support daily securities and cash processes. Collaboration with Credit, Accounting, and Front Office teams will be essential.

Qualifications

• Undergraduate student pursuing Finance, Accounting, Economics, Business Administration, Mathematics, Data Analytics or related field.
• Junior or Senior standing at an accredited university.
• Minimum GPA of 3.0 preferred.
• Strong analytical and problem-solving skills.
• Proficiency with Microsoft Excel and Microsoft Office applications.
• Strong written and verbal communication skills.
• Ability to manage multiple tasks and work effectively in a team environment.

Responsibilities

• Support monitoring of member collateral positions used to secure credit obligations.
• Learn how residential and commercial mortgages and investment securities are evaluated for eligibility and policy compliance.
• Assist with reconciling pledged assets and safekeeping account activity.
• Support daily operational processes related to securities and cash transactions.
• Gain exposure to derivative collateral management and settlement activities.
• Participate in data analysis, process improvement initiatives, and operational reporting.
• Collaborate with cross-functional teams including Credit, Accounting, Member Transaction Desk, Front Office, Middle Office, Member Support, and Sales.

Skills

Excel proficiency

Financial analysis

Attention to detail

Communication skills

Teamwork

Education

Finance / Accounting / Economics / Business Administration / Mathematics / Data Analytics

Tools

Microsoft Office

Job description

FHLBank Chicago is offering a Summer Internship in Collateral Operations & Safekeeping. This program is designed for current undergraduates seeking hands-on experience in collateral management, safekeeping, and bank operations.

You will learn to monitor collateral positions, evaluate mortgage and security eligibility, reconcile pledged assets, and support daily securities and cash processes. Collaboration with Credit, Accounting, and Front Office teams will be essential.