Summer Internship – Credit Risk Management 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 will be engaged in projects that will provide you with real world, hands-on experience in the exciting world of financial services. We are currently seeking a summer intern to work in our Credit Risk Management Group. Successful individuals should be following an academic track in Business, Finance, Statistics, Computer Science or Accounting. 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 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. FHLBC Credit Risk Management: What we do
Minimize the risk of default and loss from credit extended to our members and non-members by establishing standards for credit risk management and limits on credit risk taking
Manage member-related credit risk by collateralizing our risk exposures
Protect our member's investment in the Bank through maintaining zero credit losses on advances
Analyze the risk of default and loss from the Bank's fixed-income security and whole loan mortgage portfolio Interns receive experience with various tasks performed by the department. Some examples are:
Conduct analysis of industry trends or potential risks within a specific financial market
Participate in and learn about model validation, model back-testing, and model benchmarking
Credit analysis of a large MBS/ABS portfolio through the use of financial modeling, security analysis, and sector research
Learn the valuation framework around whole loan collateral pledged to the Bank; includes benchmark studies, asset level loss analysis and the setting of asset specific haircuts .
Learn the analytics and risk assessment of a large whole loan mortgage portfolio through the use of cash flow modeling, loan level characteristics examination and risk structure analysis. REQUIREMENTS
Applicants should be enrolled in a undergraduate program at an accredited institution
Should have a GPA of at least 3.0 and be in good academic standing. Transcripts will be requested
Desired fields of study include Business, Finance, Statistics, Computer Science or Accounting
Internships will start May/June 2018. The start/end date may be flexible based on school schedule.
Previous risk/compliance internship and/ or project work experience preferred
Intermediate knowledge of Excel and Access is required
The Federal Home Loan Bank of Chicago is a $72.0 billion wholesale bank and one of 11 district banks chartered in 1932 by the U.S. Congress to improve the availability of funds to support home ownership. The FHLB Chicago is a member-owned cooperative serving members in our district of Illinois and Wisconsin. All federally insured depository institutions, insurance companies engaged in residential ...housing finance, credit unions, and community development financial institutions located in our district are eligible to apply for membership. Today, the FHLB System, which is regulated by the Federal Housing Finance Agency, has more than 7,500 members.
The FHLB Chicago strives to be a valuable partner to our member financial institutions in Illinois and Wisconsin during all phases of financial and economic cycles. The mission of the Federal Home Loan Bank of Chicago is to partner with our member shareholders in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities.
The Federal Home Loan Bank of Chicago is committed to diversity at all levels of our organization from the employees we hire to the programs, institutions, and businesses we support. Our goal is to recruit, hire, and develop talented staff and to offer a work environment that allows them to do their best work.