Intern - Model Risk Management

Federal Home Loan Bank of New York • New York, NY

3d • $27

About The Position

This is a 10-week full time summer internship opportunity, commencing on June 2, 2026. Candidates must be available for the entire program to be considered. This position will support model risk efforts to review bank’s innovative modelling initiatives such as AI or ML as well as improving model risk monitoring and model reviews.

Requirements

• Quantitative and analytically oriented especially with models, statistical analysis, data analysis, Machine Learning (ML) and Artificial Intelligence (AI) analysis.
• Fluency with statistical and numerical methods such as regressions, probability theory, Monte Carlo simulation, default forecasting.
• Excellent verbal and written communicator.
• Team player adaptable to changing roles and requirements.
• Excellent computing skills, Python, Excel, Visual Basic, etc.

Nice To Haves

• General understanding or course work of fixed income markets, products, pricing, and risk management a plus.
• General understanding of Federal Home Loan Bank mission and business model is a plus.

Responsibilities

• Perform model or tool (such as AI use cases) review from model risk perspectives
• Utilize AI/ML tools to analyze models or model implementation
• Analyze model risk implications per regulatory requirements such as using VantageScore 4 for mortgage credit rating
• Benchmark model performance
• Contribute to Ad-hoc projects as needed

What This Job Offers

• Job Type: Full-time
• Career Level: Intern
• Education Level: No Education Listed