Summer Internship - Collateral Operations & Safekeeping

FHLBank Chicago•Chicago, IL

6d•$38,800 - $58,100•Onsite

About The Position

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.

Requirements

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.

Responsibilities

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.