# Model Risk Intern at Federal Home Loan Bank of Indianapolis

- Company: Federal Home Loan Bank of Indianapolis
- Location: Indianapolis, IN
- Type: Internship · Internship
- Posted: 2026-10-07
- Apply: https://fhlbi.wd1.myworkdayjobs.com/FHLBI_Careers/job/Indianapolis/Long-Term-Model-Risk-Intern_R623
- Page: https://newgrad.ai/jobs/model-risk-intern-3f6f3c3f

## Summary by newgrad.ai

What you'll do:

- Validate models and track performance across asset-liability management, derivatives, mortgages, credit, and stress testing
- Build and refine benchmarking systems using machine learning and AI techniques
- Extract, transform, and analyze data with visualizations and reports
- Research quantitative modeling approaches and methodologies

What they're looking for:

- Advanced coursework in mathematics, statistics, or machine learning
- Coding experience with Python or equivalent languages
- Knowledge of financial markets, bond analytics, mortgage valuation, and risk assessment
- Clear communication abilities both written and verbal
- Currently pursuing a graduate degree in quantitative finance, mathematics, computer science, or related field

Pay and perks:

- Hourly compensation at competitive rates
- 20+ hours weekly during academic terms; 40 hours during summer (June–August)
- Hybrid arrangement requiring 1+ office days part-time, 3+ days full-time; must be in Indianapolis area

## Posting

Are you interested in an internship that provides you an opportunity to turn your related coursework into real-world business experiences? Do you thrive on fostering collaboration with others and working with a team?

The Federal Home Loan Bank of Indianapolis is seeking well-rounded and motivated individuals to join our team. The student filling this position will handle a wide range of important duties. We seek individuals who thrive in challenging and diverse environments, are motivated goal achievers, and have a willingness to learn.

### Primary Responsibilities:

- Assist with model validations and performance monitoring for asset-liability management, derivative pricing, mortgage prepayment, credit risk, and stress testing models

- Assist with the development of benchmarking models, including ML/AI models.

- Perform data ETL, analysis, visualization, and reporting.

- Conduct research on modeling topics.

- Other duties as assigned.

### Position Requirements:

- Effective written and oral communication skills.

- Ability to take instructions and work independently, as well as in a team setting.

- Strong organizational skills with attention to detail.

- Analytical skills and critical thinking.

- Strong mathematical/statistical/machine learning background.

- Proficiency in Python or a similar programming language.

- Understanding of financial market concepts, fixed-income analytics, mortgage valuation, stress testing, and credit risk.

### Program Features & Requirements:

- Interns are paid a competitive hourly rate.

- Interns work a minimum of 20 hours per week during Spring/Fall semesters and full-time (40 hours per week) during the summer (June – August). Continuation of the internship is evaluated every three months.

- Our intern program is for students who are currently enrolled in a graduate degree program in Financial Engineering/Mathematical Finance, Statistics, Mathematics, Economics, Computer Science, or similar quantitative disciplines.

- Ability to work at least one day per week from the office while working part-time, and ability to work at least three days per week from the office while working full-time. Must be located in or around the Indianapolis area OR be willing to relocate to adhere to our Hybrid Workforce Model.

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

From Federal Home Loan Bank of Indianapolis's public posting, laid out for reading by newgrad.ai with the wording unchanged. Check the original before you apply.

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