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Federal Home Loan Bank of Boston 2021 Summer Internship - Market Risk Management Internship in Boston, Massachusetts

2021 Summer Internship - Market Risk Management Internship

Location: Boston

Job Code: 302

# of openings: 1


The Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 440 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.

Our highly skilled team of 200 is diverse, innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.

Position Summary

John Goldsmith served on the Board of Directors at the Federal Home Loan Bank from 2007-2014. He brought extensive capital markets experiences to the Board having spent his career as a senior executive in the financial services industry. In John’s memory the Bank has created the John Goldsmith internship, which offers an intern the opportunity to become versed in the Market Risk Management function where John regularly contributed his invaluable expertise and guidance.

The intern will contribute to the Bank’s efforts in assessing the accuracy and continued development and maintenance of financial models used to measure the impact or sensitivity of interest rates and other factors on market value and projected earnings. The intern may assist in operating the models, compiling results and comparing the relative performance of the models. The intern may provide input on a variety of key drivers of the models, including macro-economic research related to the economy and the housing market, statistical analytic methodologies, backtesting and benchmarking, etc.

This is a paid internship running from late May or early June into August. As part of the 2021 summer internship cohort, our interns will be invited to participate in a variety of events and activities intended to ensure a positive experience.

A successful candidate must be prepared to be physically in our office at some point during the internship.

FHLB Boston does not sponsor work authorization for internships.

Specific Responsibilities

  • Assist with instrument level cash flow modeling, back testing, and benchmarking.

  • Assist with the creation of analysis for and presentations to Senior Management.

  • Compare model analytics and results across third party models for MBS and Residential Real Estate Loans

  • Actively participate in ad hoc assignments / projects related to the enhancement of a variety of market risk measurement techniques / analytics effecting both valuation and income sensitivity.

Benefits for the Intern

  • Opportunity to strengthen skills in Finance/Risk Management, Excel, PowerPoint, SQL, and/or other analytical tools.

  • Receive hands-on guidance from Senior Risk Analysts and Vice Presidents / Managers within the Market Risk Management team to ensure a successful internship experience.

  • Gain experience with sophisticated valuation and interest rate models. Specifically, view first-hand how a large bank analyzes the balance sheet and projected future earnings against potential interest rate risk exposure.

  • Exposure to fixed income modeling concepts applied to various asset types.

  • Gain real world experience in a professional office setting.


  • Progress towards, or recent completion of, an undergraduate or graduate degree in Business, Finance, Statistics, or related quantitative field.

  • Knowledge and understanding of fixed income products, with emphasis on those related to mortgage markets.

  • Ability to manage and efficiently work with large data sets.

  • Experience in Microsoft Office Suite (Excel, PowerPoint, Word). Experience using SQL for data queries a plus.

  • Strong analytical skills and a high degree of attention to detail must be demonstrated.

  • Effective written and oral communication skills are required for this position.

  • Prefer candidates who show a willingness and drive to learn new concepts, are not afraid to ask questions, and want to be a member of a highly collaborative team.

The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.