Model Risk Intern

Location: Indianapolis

Are you ready to turn your classroom knowledge into real-world experience?

Do you enjoy collaborating with others and working as part of a team? If so, the Federal Home Loan Bank of Indianapolis (FHLBank) invites you to apply for our 2027 Summer Internship Program!

We’re looking for well-rounded, motivated students to join us for a 10-week paid internship where you’ll gain hands-on technical experience in your field of study, opportunities to develop key professional skills, and valuable networking connections to support future career growth. Beyond traditional internship responsibilities, participants join a cohort of 11 interns across multiple departments, engaging in collaborative group activities while also working closely with their assigned teams to build essential technical and professional competencies. Interns must be located in Indianapolis during the duration of the program and be willing to commit to a hybrid schedule of 3 days in office/2 days remote each week.

What You’ll Experience

Our Model Risk team plays a key role in assessing the Bank’s model risk through model validations, risk reviews, and ongoing analysis. As a part of Enterprise Risk Management (ERM), they validate financial models throughout the Bank in order to assess model reasonableness, weaknesses, and risks. They interact with model owners and model users across the Bank to understand current model performance, development activities, and emerging risks.

As a Model Risk intern at FHLBank, you’ll

Support the validation of financial and statistical models to ensure accuracy and compliance.

Analyze complex datasets and create clear visualizations and reports to inform decision-making.

Research emerging trends and best practices in modeling methodologies.

Perform additional tasks and projects as needed to support team objectives.

Apply strong problem-solving and communication skills to collaborate across teams and present analytical results effectively.

Contribute to meaningful projects that align with your field of study.

Gain exposure to the finance and banking industry.

Who We’re Looking For

We’re seeking students who

Are actively enrolled in a graduate degree program.

Are majoring in Financial Engineering/Mathematical Finance, Statistics, Mathematics, Economics, Computer Science, or similar quantitative disciplines.

Communicate effectively, both in writing and verbally.

Work well independently and in team settings.

Are detail-oriented, organized, and eager to solve problems.

Strong mathematical/statistical/machine learning background. Hands-on experience with AI use cases is desired.

Proficiency in Python or a similar programming language.

Understanding of finance and financial models.

Program Highlights

10-week paid internship from June to August.

Internship may be extended beyond August if approved by the student’s institution.

Flexible hybrid workforce model: Onsite three days a week and two days remote.

Competitive hourly rate.

“Dress for your day” dress code: You choose the appropriate work attire based on what your day looks like.

Professional development and networking opportunities.

Inclusive and collaborative work environment.

Ready to apply? Submit your resume! We look forward to learning more about you!

The Federal Home Loan Bank of Indianapolis is an Equal Opportunity Employer.