Summer Internship - Markets Credit

The Federal Home Loan Bank of Chicago; Chicago (IL); On-site; USD 39,000 - 58,000; Full time

Benefits offered by this job

Retirement program (401k and Pension)

Medical, dental and vision insurance

Lifestyle Spending Account

Competitive PTO plan

11 paid holidays per year

Job summary

The Federal Home Loan Bank of Chicago invites you to join our Markets Credit Team as a Credit Risk Analyst Intern, offering hands-on experience in credit risk modeling and data analytics. You’ll learn about MPF and our investment portfolio while working with seasoned professionals in risk management.

Gain exposure to advanced statistical techniques, with mentorship and real-world financial projects, in a collaborative, in-office environment within our Illinois/Wisconsin district.

Qualifications

• Pursuing a Bachelor's or Master's degree in Mathematics, Finance, Economics, Statistics, Computer Science, or related field.
• Familiarity with mortgage markets and financial products is a plus.
• Basic knowledge of programming and data analytics tools.
• Strong analytical and problem-solving skills.
• Effective verbal and written communication abilities.
• Detail-oriented and self-motivated.

Responsibilities

• Assist in operating and maintaining credit risk models for mortgage loan portfolios.
• Help monitor and report credit risk trends and exposures for mortgage loan and investment portfolios.
• Support development of algorithmic solutions for model implementation and performance monitoring.
• Participate in scenario analysis and stress testing to evaluate portfolio risks.
• Support credit reviews for member institutions.
• Collaborate with validators and auditors to ensure model accuracy and compliance.
• Aid in optimizing business processes through data management and programming tools.
• Conduct ad-hoc analysis as needed.

Skills

SQL

R

Python

Visual Basic

Tableau

Education

Bachelor's or Master's in Mathematics/Finance/Economics/Statistics/Computer Science

Tools

SQL

R

Python

Visual Basic

Tableau

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.

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 are 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.

What you'll do

Join our Markets Credit Team as a Credit Risk Analyst Intern and gain hands‑on experience in credit risk modeling, data analytics, and financial analysis. This internship provides exposure to the Bank's Mortgage Partnership Finance (MPF) and investment portfolio, offering a unique opportunity to learn from experienced professionals in the field of risk management.

How You'll Make an Impact

• Assist in operating and maintaining credit risk models for mortgage loan portfolios.
• Help monitor and report credit risk trends and exposures associated with mortgage loan and investment portfolios
• Support the development of algorithmic solutions for model implementation and performance monitoring.
• Participate in scenario analysis and stress testing to evaluate portfolio risks under various economic conditions.
• Support credit reviews for member institutions.
• Collaborate with validators and auditors to ensure model accuracy and compliance.
• Aid in optimizing business processes through data management and programming tools.
• Conduct ad-hoc analysis as needed.

What You Can Expect

• Gain exposure to advanced statistical techniques and credit risk modeling.
• Learn to use tools such as SQL, R, Python, Visual Basic, and Tableau.
• Understand mortgage underwriting, servicing, and financial product analysis.
• Develop skills in data analytics, scenario analysis, and regulatory compliance.
• Work alongside experienced analysts and contribute to real‑world financial projects.
• Opportunity to work in a dynamic and collaborative environment.
• Mentorship from experienced professionals in credit risk and financial analysis.
• Exposure to industry‑standard tools and methodologies.
• Networking opportunities with team members and stakeholders.
• Potential for future full‑time opportunities based on performance.

What you’ll bring

• Currently pursuing a Bachelor's or Master's degree in Mathematics, Finance, Economics, Statistics, Computer Science, or a related field.
• Familiarity with mortgage markets and financial products is a plus.
• Basic knowledge of programming and data analytics tools.
• Strong analytical and problem‑solving skills.
• Effective verbal and written communication abilities.
• Detail‑oriented and self‑motivated.

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