What are the responsibilities and job description for the Summer Internship - Collateral Operations & Safekeeping position at The Federal Home Loan Bank of Chicago?
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 - $58,100.00The 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
The Federal Home Loan Bank of Chicago (FHLBC) is committed to diversity and inclusion at all levels of our organization, from the employees we hire to the programs, institutions, and businesses we support. The FHLBC is dedicated to providing equal employment and contracting opportunities, regardless of race, color, religion, sex, sexual orientation, national origin, age, disability, genetic information, veteran status or any other status protected by applicable federal, state or local law.
Salary : $38,800 - $58,100