About the role#
The Federal Home Loan Bank of Indianapolis is hiring a Long-Term Model Risk Intern. This role connects your graduate coursework to business operations in the banking industry. You will work with our team on model validation, development, and research. This is a paid, rolling internship.
What you'll do#
- Assist with model validations and performance monitoring for areas including asset-liability management, derivative pricing, mortgage prepayment, credit risk, and stress testing.
- Help develop benchmarking models, including those using machine learning and AI.
- Perform data ETL, analysis, visualization, and reporting.
- Conduct research on various modeling topics.
- Handle other duties as assigned.
What you'll need#
- Current enrollment in a graduate degree program in Financial Engineering, Mathematical Finance, Statistics, Mathematics, Economics, Computer Science, or a similar quantitative discipline.
- Strong background in mathematics, statistics, or machine learning.
- Proficiency in Python or a similar programming language.
- Understanding of financial market concepts, fixed-income analytics, mortgage valuation, stress testing, and credit risk.
- Effective written and oral communication skills.
- Ability to work independently and within a team.
- Strong organizational skills and attention to detail.
- Analytical skills and critical thinking.
Location & details#
- This position is based in Indianapolis, Indiana.
- The role follows a hybrid work model. You must be able to work from the office at least one day per week during part-time hours and at least three days per week during full-time hours.
- You must be located in or around the Indianapolis area or be willing to relocate.
- Interns work a minimum of 20 hours per week during the Spring and Fall semesters and 40 hours per week during the summer months.
- Performance and program continuation are evaluated every three months.
About Federal Home Loan Bank of Indianapolis (FHLBI)
The Federal Home Loan Bank of Indianapolis is a regional cooperative bank founded in 1932. It operates as one of 11 independent banks in the United States and is owned by member financial institutions in Indiana and Michigan. The organization provides liquidity to its members through advances and mortgage programs to support housing finance and community lending. It maintains a staff of 201 to 500 employees at its headquarters in Indianapolis.
How to get in at Federal Home Loan Bank of Indianapolis (FHLBI)
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