Summer Internship - Financial Reporting

FHLBank; Chicago (IL); On-site; USD 39,000 - 58,000; Full time

Benefits offered by this job

401(k) and Pension

Medical, dental and vision insurance

Lifestyle Spending Account

Paid time off

11 holidays per year

Job summary

The Federal Home Loan Bank of Chicago is offering an internship designed to provide real-world experience in financial services within a collaborative, team-focused environment on an in‑office model.

You will assist with monthly and quarterly tasks, including external reporting to regulators, learn the SEC/Regulatory processes, ESG-related tasks, and data submissions as you pursue an undergraduate degree in Accounting or General Business.

Qualifications

• Applicants should be enrolled in an undergraduate program at an accredited institution.
• Sophomore status at an accredited four year institution.
• GPA of at least 3.0 and in good academic standing.
• Must enjoy working in a trading floor environment.

Responsibilities

• Assisting with monthly and quarterly tasks, including external reporting to regulators (OF and FHFA).
• Learning about the FRS and CRS systems as they relate to monthly/quarterly reporting.
• Assisting with ESG-related tasks as they become available.
• Learning about SEC and Regulatory Reporting for quarterly and annual filings posted to the SEC site.
• Assisting with data submissions, data analysis, and cross-team communication.
• Collaborating with contributors on internal files.
• Communicating with PwC for audit support and documentation.
• Participating in bank-wide events to learn about culture.
• Ad‑hoc and miscellaneous tasks and projects.

Skills

Microsoft Excel

Education

Undergraduate student

Job description

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

Job Description

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’ll be engaged in projects that will provide you with real world, hands‑on experience in the exciting world of financial services. 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.

Responsibilities

• Assisting with monthly and quarterly tasks, including external reporting to our regulators, the OF (Office of Finance) and FHFA (Federal Housing Finance Agency)
• Learning about the FRS (Financial Reporting) and CRS (Call Reporting) systems as it relates to our monthly and quarterly reporting process
• Assisting with Environmental, Social, and Governance (ESG)-related tasks as they become available
• Learning about SEC and Regulatory Reporting as it relates to our quarterly (10-Q) and annual (10-K) filings posted to the SEC (Securities and Exchange Commission) website
• Assisting with key data submissions, data analysis, and communication with other teams across the organization
• Collaborating with key contributors on various files used solely for internal purposes
• Communicating with our external auditors, PwC, by providing support and documentation for the group’s audit
• Participating in Bank-wide events to learn about a diverse and inclusive culture
• Ad-hoc and miscellaneous tasks and projects (to be assigned)

Requirements

• Applicants should be enrolled in an undergraduate program at an accredited institution
• Applicants should be at least sophomore status at an accredited four year institution
• Should have a GPA of at least 3.0 and be in good academic standing
• Must have demonstrated expertise in Microsoft Excel
• Desired fields of study include Accounting or General Business
• Must enjoy working in a trading floor environment

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

Our mission at FHLBank Chicago:

To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities. Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.