Summer Internship: Model Risk & Validation

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

Benefits offered by this job

401k & Pension

Medical Insurance

Dental Insurance

Vision Insurance

Lifestyle Spending Account

PTO

11 paid holidays

Job summary

The Federal Home Loan Bank of Chicago is seeking a summer Model Risk Intern to join the Model Risk team. You will engage in hands-on projects that illuminate the world of financial services and risk management. This role emphasizes data analytics, documentation, and collaboration within a team-driven environment.

You will gain exposure to quantitative testing, risk reporting, and process improvements while working alongside experienced risk professionals in a supportive, office-based setting.

Qualifications

• Enrolled in undergraduate/graduate program in a quantitative discipline (e.g. Finance, Economics, Mathematics, Statistics) with GPA at least 3.0
• Interested in risk management and model validation
• Basic understanding in fixed income securities and data analysis (SQL/R/Python a plus)
• Proficient in Microsoft Office suite (Excel, Word, Access, PowerPoints)

Responsibilities

• Support model validation and risk governance through various technical (e.g. data analytics and quantitative modeling) and administrative (e.g. documentation) tasks
• Identify and report potential model risks to improve the overall quality of models
• Collaborate with other teams within the Bank to ensure model risk being effectively managed

Skills

SQL

R

Python

Microsoft Office

Education

Undergraduate/Graduate program in Finance/Economics/Mathematics/Statistics

Tools

Excel

PowerPoint

Access

Word

Job description

The Federal Home Loan Bank of Chicago is seeking a summer Model Risk Intern to join the Model Risk team. You will engage in hands-on projects that illuminate the world of financial services and risk management. This role emphasizes data analytics, documentation, and collaboration within a team-driven environment.

You will gain exposure to quantitative testing, risk reporting, and process improvements while working alongside experienced risk professionals in a supportive, office-based setting.