Quantitative Risk Management Intern

Busey Bank • Champaign, IL

1d

About The Position

Busey Bank is a growing financial institution, established over 150 years ago and operating in ten states, including Illinois and Kansas. We are seeking an initiative-taking Quantitative Risk Management Intern to join our Risk Management team for a summer internship. This temporary role is ideal for a candidate in a quantitative focused master’s program, who is eager to apply quantitative and analytical skills to assess and manage financial risks in a banking environment. As a Quantitative Risk Management Intern, your primary responsibility will be to support the organization’s Enterprise Risk Management division to enhance its capabilities to support the Company’s strategic priorities. Your summer internship will allow you to explore your in-the-class learnings and apply them in a real-world setting while learning from industry practitioners with broad experiences. You will be exposed to topics such as interest rate risk in the banking book, liquidity and funding risks, capital requirements, credit risks, and financial crimes risks (e.g. fraud, BSA/AML, etc.).

Requirements

• Bachelor’s degree in economics, math, statistics, finance or a related area of study
• Master’s degree in finance, economics, quantitative finance, statistics, or a related field, or currently enrolled in a Quantitative master’s program – finance, economics, or related area
• 0-3 years of experience in risk management, quantitative analytics, or financial modeling (internships and research projects considered).
• Strong quantitative and analytical skills with experience in risk / financial modeling, statistical analysis, and data visualization.
• Proficiency in programming languages such as Python, R, MATLAB, or SQL.
• Proficiency in Microsoft Office, specifically Excel and PowerPoint.
• Familiarity with statistics and risk concepts such as VaR, Expected Shortfall, Monte Carlo simulations, and Basel III regulations.
• Effective communication skills with the ability to translate complex quantitative findings into actionable business insights.
• Meticulous with strong problem-solving abilities and an initiative-taking mindset.
• Ability to work independently and in a team
• Customer Service - Adheres to The Busey Promise service standards set by Service Plus (Busey’s service model) to anticipate and exceed the needs of our customers, both internal and external
• Functional Knowledge and Technical Skills - Skilled in job-specific knowledge that is necessary to provide the appropriate quantity and quality of work in a timely and efficient manner
• Accountability - Work behaviors demonstrate responsible personal and professional conduct, which contributes to the overall goals and objectives of Busey

Nice To Haves

• Experience with business analytic tools (e.g., PowerBI, Tableau, etc.)
• Experience leveraging AI agents for coding, model development and problem solving
• Experience with financial databases such as Bloomberg, FactSet, or Reuters is a plus.

Responsibilities

• Work with large historical data sets of bank asset and liability data to help develop and enhance current risk modeling and KRI/EWI tracking
• Develop, enhance, and document risk modeling assumptions for market and liquidity risks
• Conduct stress testing, scenario analysis, and sensitivity analysis to evaluate the impact of adverse economic conditions on modeling assumptions
• Analyze asset and liability gap risk and duration risk for the banking book
• Implement and improve risk metrics (e.g., Liquidity Coverage Ratio, NSFR, VaR, CVaR) and reporting frameworks
• Research and collect market/economic data, monitoring emerging risk trends
• Collaborate with teams across risk, finance, and regulatory compliance to ensure alignment with banking regulations and internal risk policies
• Provide insights and recommendations to senior risk managers and business units based on quantitative analysis.

Benefits

• Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results.
• Your personal and professional well-being—now and in the years to come—are important to us.
• Busey’s Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program.
• In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts.

What This Job Offers

• Career Level: Intern
• Number of Employees: 501-1,000 employees