What are the responsibilities and job description for the Intern - Regulatory Compliance & Risk position at SPS?
About SPS
Select Portfolio Servicing is one of the nation's leading residential mortgage servicers, managing a portfolio of over one million loans for borrowers across the United States. Headquartered in Salt Lake City, SPS operates at the intersection of consumer finance, federal and state regulation, and technology -- giving our legal and compliance professionals exposure to some of the most dynamic and consequential issues in financial services law.
The Opportunity
We are seeking two motivated J.D. candidates to join our Legal and Compliance team for a substantive, project-driven internship. This is not a document-review role. Interns at SPS are embedded directly into our legal and compliance operations, working alongside senior attorneys and compliance officers on real matters that shape how we serve hundreds of thousands of borrowers nationwide.
You will gain hands-on experience in a regulated financial services environment, with exposure to matters that span federal consumer protection law, state-specific regulatory requirements, mortgage servicing rules, and internal risk governance.
What You Will Work On
Interns will be assigned to projects across the following areas, with the opportunity to own discrete workstreams from start to finish:
Regulatory Compliance
* Research and analyze federal and state regulatory requirements applicable to mortgage servicers, including CFPB rules, GSE guidelines (Fannie Mae, Freddie Mac), and state-specific statutes
* Monitor and summarize regulatory developments and agency guidance affecting servicing operations
* Support compliance reviews and assist in drafting policy and procedure updates in response to regulatory changes
AI-Driven Compliance Innovation
* Participate in a cutting-edge initiative to apply AI tools to redesign compliance testing and internal audit procedures
* Help map and analyze historical regulatory findings to identify patterns and control weaknesses, supporting a data-driven approach to risk management
* Collaborate with compliance, technology, and audit teams to develop AI-assisted frameworks for ongoing monitoring
Litigation Support
* Assist in-house counsel with active litigation matters, including legal research, drafting memoranda, and summarizing key developments
* Support preparation for regulatory inquiries, examinations, and enforcement matters
* Analyze relevant case law and statutory developments affecting mortgage servicing and consumer finance
Internal Audit & Risk
* Assist with the design and evaluation of internal audit tests for key servicing processes
* Review audit findings and help prepare summaries and trend analyses for senior leadership
* Support the development of corrective action plans in response to identified control gaps
What We Are Looking For
* Currently enrolled in a J.D. program; students at the S.J. Quinney College of Law strongly encouraged to apply
* Demonstrated interest in regulatory compliance, financial services law, or consumer protection
* Strong research, writing, and analytical skills
* Intellectual curiosity and a willingness to engage with complex, evolving regulatory frameworks
* Comfort working in a fast-paced environment and managing multiple concurrent projects
* Interest in the application of technology and AI to legal and compliance work is a plus
Why SPS
* Work on substantive, real-world matters with direct business impact -- not busywork
* Gain exposure to a broad range of legal disciplines within a single internship
* Be part of an innovative team actively integrating AI into compliance and risk workflows
* Access to mentorship from experienced in-house attorneys and compliance professionals
* Competitive compensation and a collaborative, professional work environment
* Located in Salt Lake City -- a hub for financial services, technology, and legal talent
How to Apply
Interested candidates should submit the following materials:
* Resume
* Cover letter describing your interest in regulatory compliance and financial services law
Applications are reviewed on a rolling basis. Early submission is encouraged.