The Program
The Federal Home Loan Bank of New York is seeking a high performing college student for a unique year-round internship designed to provide meaningful, hands-on-experience in quantitative analysis and attribute key risk factors using advanced quantitative methodologies.
This opportunity allows students to work 15- 20 hours per week during the academic year, transition to a full-time summer internship, and potentially continue into the following fall. Interns will partner with experienced professionals to support automation initiative and enhance analytical models that drive business decisions.
The internship is ideal for students majoring in Finance, Engineering, Financial Engineering, Quantitative Finance, Economics, or related discipline who are eager to apply their technical skills in a professional environment. Students will gain real-world exposure, strengthen analytical capabilities, and build a strong foundation for future career success.
Primary responsibilities
Develop and implement risk solutions and analytics, to decompose and attribute key risk factors using advanced quantitative methodologies.
During your internship you will work directly with the Financial Risk Management Team on 2 key initiatives.
1- Process automation – develop solutions to automate repetitive tasks such as data collection, data validation and reporting.
2 -Develop scripts or tools to support new risk management initiatives such as stress testing or scenario analysis.
Your contributions will directly enhance our risk management processes, making them more efficient and robust.
Skills
General Knowledge of fixed income and derivative markets, products and risks
Quantitative, analytical and statistical skills with keen attention to detail.
Programming skills including Python/Java, VBA, SQL. Familiarity with object-oriented programming concepts and design patterns.
Ability to prototype and program risk system solutions and reports.
Team player with great communication skills.
Education: Studying for a Bachelor’s or master’s in finance, Engineering, Financial Engineering, Quantitative Finance, Economics or related discipline required.
Hourly rate – $25 - $30 per hour
The Federal Home Loan Bank of New York is committed to recruit, hire, develop, motivate, promote, retain, and compensate all applicants and employees in a nondiscriminatory manner without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, status as a parent, disability, genetic information, military or veteran status, or any other characteristic protected by applicable law (including title VII of the Civil Rights Act of 1964).
Top Skills
What We Do
The Federal Home Loan Bank of New York (FHLBNY) is a privately-owned wholesale bank that helps community lenders in New Jersey, New York, Puerto Rico and the U.S. Virgin Islands advance housing and community growth. The FHLBNY membership is comprised of commercial banks, savings banks, savings and loans, credit unions, insurance companies and community development financial institutions. The FHLBNY is part of the Congressionally-chartered, nationwide Federal Home Loan Bank System, which was created in 1932 to provide a flexible liquidity source for member community lenders engaged in home mortgage and neighborhood lending. The mission of the FHLBNY is to advance housing opportunity and local community development by maximizing the capacity of community-based member lenders to serve their markets. Since the FHLBNY is a secured lender, all of its credit products require real estate related collateral. The FHLBNY enables local lenders to extend affordable credit to their communities. Thanks to the Federal Home Loan Bank System, communities across the country have access to more affordable housing, small business, and community development programs.
