Summer Internship - MPF Operations

At the Federal Home Loan Bank of Chicago, employees come first - that’s why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. 

• Collaborative, in-office operating model

• Retirement program (401k and Pension) 

• Medical, dental and vision insurance 

• Lifestyle Spending Account 

• Competitive PTO plan 

• 11 paid holidays per year

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Job Description

An internship with The Federal Home Loan Bank of Chicago is not like your average internship. We offer a dynamic, collaborative , team-centered environment that you may not find anywhere else.  You will be engaged in projects that will provide you with real world, hands-on experience in the world of financial services.  We are currently seeking a summer intern to work in our Mortgage Partnership Finance (MPF) department. Applicants should have an interest in learning more about mortgage operations.

Who are we, you ask? 

We are a federally chartered corporation and one of 11 Federal Home Loan Banks (FHLBanks) that, with the Office of Finance, comprise the Federal Home Loan Bank System.  The FHLBanks were chartered by Congress under the Federal Home Loan Bank Act of 1932 to improve the availability of funds to support home ownership.  Each FHLBank is cooperatively owned by member financial institutions in its district and operated as a separate entity with its own management, employees, and board of directors.  Our district consists of the states of Illinois and Wisconsin. We are regulated by the Federal Housing Finance Agency, an independent federal agency.

REQUIREMENTS

• Applicants should be at least Junior status at an accredited four-year institution

• Should have a GPA of at least 3.0 and be in good academic standing

• Desired fields of study include Finance, Accounting, or other Business discipline

• Must be willing to work with each of the MPF operations teams to learn about the mortgage lifecycle and mortgage operations in general

• Skills with data for metrics and process improvement (e.g., Lean Six Sigma) are highly desirable

How You will Make an Impact

• Assist in analyzing and improving mortgage operations processes to enhance efficiency and effectiveness

• Support the development and tracking of key performance metrics to drive data-informed decision-making

• Collaborate with various operations teams to gain a comprehensive understanding of the mortgage lifecycle, mortgage operations and contribute to cross-functional projects

The mission of the Federal Home Loan Bank of Chicago is to partner with our member shareholders in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities.

Salary Range:

$38,800.00 - $58,100.00

The above represents the expected salary range for this job requisition.  Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc