Model Risk Intern

Federal Home Loan Bank of Indianapolis•Indianapolis, IN

1d•Hybrid

About The Position

The Model Risk Intern will join the Federal Home Loan Bank of Indianapolis’ 2027 Summer Internship Program for 10 weeks, from June to August. The internship provides hands-on technical experience, professional development, networking opportunities, and participation in a cohort of 11 interns across multiple departments. Interns work with their assigned teams and take part in collaborative group activities. Interns must be located in Indianapolis for the duration of the program and follow a hybrid schedule of three days in the office and two days remote each week. The intern will support the Model Risk team within Enterprise Risk Management. The team assesses the Bank’s model risk through model validations, risk reviews, and ongoing analysis, validating financial models across the Bank to assess their reasonableness, weaknesses, and risks. The team interacts with model owners and users to understand model performance, development activities, and emerging risks. The internship may be extended beyond August if approved by the student’s institution.

Requirements

Actively enrolled in a graduate degree program.
Major in Financial Engineering/Mathematical Finance, Statistics, Mathematics, Economics, Computer Science, or a similar quantitative discipline.
Effective written and verbal communication skills.
Ability to work independently and in team settings.
Detail-oriented, organized, and eager to solve problems.
Strong mathematical, statistical, and machine learning background.
Proficiency in Python or a similar programming language.
Understanding of finance and financial models.
Must be located in Indianapolis for the duration of the program and able to work onsite three days and remotely two days each week.

Nice To Haves

Hands-on experience with AI use cases is desired.

Responsibilities

Support validation of financial and statistical models to assess accuracy and compliance.
Analyze complex datasets and create visualizations and reports to inform decision-making.
Research emerging trends and best practices in modeling methodologies.
Complete additional tasks and projects as needed to support team objectives.
Collaborate across teams and present analytical results effectively.
Contribute to projects aligned with the intern’s field of study.