About the role
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 FHLBank Chicago is seeking a Summer Intern to join our Collateral Operations & Safekeeping team.
This internship provides an opportunity to learn how collateral secures the Bank's lending activities and supports the safety and soundness of our operations. The intern will gain exposure to collateral management, member transactions, safekeeping services, and operational processes that support the Bank's credit and liquidity functions. This position is ideal for students interested in finance, banking, accounting, economics, business operations, or related fields who want to develop a foundational understanding of financial institutions and risk management practices.
How You'll Make an Impact As a Summer Intern, you may: Support the monitoring of member collateral positions used to secure credit obligations. Learn how residential mortgages, commercial mortgages, and investment securities are evaluated for eligibility and compliance with Bank policies. 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. What You'll Learn Throughout the internship, you will gain exposure to: Collateral and credit risk concepts. Financial institution operations. Securities and mortgage collateral management. Asset reconciliation processes. Banking regulations and policy compliance. Operational risk and internal controls.
Professional communication and project management skills. Education/Experience Current undergraduate student pursuing a degree in: Finance, Accounting, Economics, Business Administration, Mathematics, Data Analytics or other 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.
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 Want to get on our radar? No need to apply. Click below to introduce yourself.
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.
Minimum requirements
- Current undergraduate junior or senior pursuing Finance, Accounting, Economics, Business, Mathematics, Data Analytics, or related field
- Minimum preferred GPA of 3.0 with strong analytical, problem-solving, and communication skills
- Proficiency in Microsoft Excel and Office; ability to multitask and work effectively in a team environment
This listing was parsed by AI and may not be complete. Check the official posting on FHLBank's site for the most accurate information.