About the role#
Waterfall Asset Management offers a 10-week summer internship program for undergraduate students interested in investment management. The program begins with a firm orientation and training in debt cash flow modeling, bond math, and structured credit classes covering asset-backed and mortgage-backed securities. Interns rotate through two four-week assignments across various investment verticals, including private credit, CRE loans and equity, and trading desks for ABS, CMBS, RMBS, residential whole loans, or high-yield corporate credit.
What you'll do#
- Collaborate with senior portfolio managers and investment teams on the full investment process, including due diligence, transaction modeling, underwriting, memo creation, and trade or deal execution.
- Complete a final project requiring a full underwrite of a live investment opportunity to be presented to the firm’s Investment Committee, including Partners and Managing Partners.
- Participate in structured credit classes to gain technical knowledge of asset-backed and mortgage-backed securities.
What you'll need#
- Currently pursuing an undergraduate degree with an expected graduation date between December 2027 and June 2028.
- Minimum 3.75 GPA.
- Strong analytical and quantitative skills with a demonstrated interest in finance and capital markets.
- Ability to perform in a rapidly changing environment.
- Strong interpersonal, verbal, and written communication skills.
- Self-starter mindset with the ability to multi-task, manage time effectively, and meet deadlines.
- Experience with coding languages is preferred, though not required.
Location & details#
- Location: New York, NY
- Term: Summer 2026
- Modality: On-site
- Status: Full-time
- Compensation: Paid internship
