About the role#
The Federal Home Loan Bank of Chicago is seeking a Summer Intern for the Collateral Operations & Safekeeping team. This role provides an opportunity to learn how collateral secures the bank's lending activities and supports the safety and soundness of our operations. You will gain exposure to collateral management, member transactions, safekeeping services, and the operational processes that support our credit and liquidity functions. This position is suited for students interested in finance, banking, accounting, economics, or business operations who want to develop a foundational understanding of financial institutions and risk management.
What you'll do#
- 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 policy compliance.
- 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 need#
- Current undergraduate student with Junior or Senior standing at an accredited university.
- Pursuing a degree in Finance, Accounting, Economics, Business Administration, Mathematics, or a related field.
- Minimum GPA of 3.0 is 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.
Location & details#
- Location: Chicago, Illinois.
- Term: Summer 2027.
- Modality: On-site.
- Employment type: Full-time.
- Compensation: This is a paid position with a salary range of $38,800 to $58,100.
About Federal Home Loan Bank of Chicago
The Federal Home Loan Bank of Chicago provides funding to member institutions in Illinois and Wisconsin. Founded in 1932, the organization supports community investment and provides access to the secondary mortgage market. It operates as a privately held entity based in Chicago. The staff size ranges from 201 to 500 employees.
How to get in at Federal Home Loan Bank of Chicago
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