Summer Analyst (Undergraduate)

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