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.
* Medical, dental and vision insurance * Retirement program (401k and Pension) * Generous PTO plan * 11 paid holidays per year * Hybrid working model (effective February 22, 2022) * Casual dress code
Summer Internship - Accounting Operations
An internship with The Federal Home Loan Bank of Chicago is not like your average internship. We can offer you a dynamic, collaborative and team-focused environment you won't find anywhere else. You'll be engaged in projects that will provide you with real world, hands-on experience in the exciting world of financial services.
We have an exceptional opportunity for a paid summer internship in our Accounting Operations group. The FHLBank Chicago is looking to partner with a hard-working, high-energy student who is ready to put their knowledge to work. This individual should be ready to demonstrate advanced written, analytical, and spreadsheet / database skills while working on projects that include account reconciliations, MPF Program loan accounting including loan pooling/securitization and related hedging, quarterly regulatory reporting, and audit requests. Successful individuals should be following an academic track in Accounting, Business, Finance, Statistics, or Economics.
This is a fantastic opportunity for students who are interested in learning how an accounting department of a bank operates. This individual will be introduced to several new software programs and will gain valuable experience working with experienced senior team members to meet audit regulations and analyze financial statements. He/she will also apply accounting principles to capture, create and analyze financial information; executing appropriate internal controls over financial reporting; developing and maintaining procedures, and assist with special projects and/or ad-hoc projects.
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.
The Internship includes but is not limited to:
Analyze and reconcile specified balance sheet accounts on a monthly basis.
Learn about the MPF Program products process flow and the related internal controls.
Compile and analyze financial information to help prepare financial statements.
Create journal vouchers to post to the general ledger.
Analyze data, build reports, and create presentations for various meetings.
Obtain new reporting skills through internal Tableau training courses with the Bank.
Assist with administrative functions, various assignments and presentations as appropriate.
Participate in Bank-wide events to learn about a diverse and inclusive culture.
Applicants should be enrolled in an undergraduate program at an accredited institution.
Applicants should be at least sophomore status at an accredited four-year institution.
Should have a GPA of at least 3.0 and be in good academic standing.
Must have demonstrated expertise in Microsoft Excel - Access a plus.
Desired fields of study include: Accounting, Finance, Economics, Statistics.
Must enjoy working in a trading floor environment.
How You'll Make an Impact:
Fresh ideas and perspective will help identify opportunities for improvement in operations
Eagerness to contribute and willingness to learn will bring energy and new ideas to the team
Provide opportunities to showcase skills and abilities and represent the team through various shared tasks and/or processes
We are committed to providing a safe work environment for all our employees. The FHLBank Chicago requires all employees, except those who may require accommodations under federal or state civil rights laws, to be fully vaccinated. #LI-Hybrid
The Federal Home Loan Bank of Chicago is a $100 billion wholesale bank and one of 11 district banks chartered in 1932 by the U.S. Congress to support mortgage lending and community investment. Each FHLBank operates as an independent organization and is governed by a board of directors elected by its member institutions. As a cooperative, we provide reliable liquidity to our member banks, credit unions, insurance companies, and community development financial institutions located in Illinois and Wisconsin, focusing on the distinct needs of their individual businesses and communities.
We offer products and services to help our members fund loans and investments held in portfolio, manage liquidity, fund mortgages into the secondary market, secure third party agreements, and achieve asset liability management goals. Through our Community Investment and Affordable Housing programs, we also help our members to provide affordable housing and economic development in the communities they serve.
FHLBank Chicago is a place, where everyone can make a difference—both for our organization and for the communities we serve through our member financial institutions. We aim to create a diverse... and inclusive environment where employees are fully engaged and positioned to do their best work. Teamwork is valued, and even entry-level hires may find themselves working side-by-side with senior-level executives.