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Santander
in Boston, MA, United States
Internships & Graduate Trainee, Full time
Be the first to apply
Competitive
Santander
in Boston, MA, United States
Internships & Graduate Trainee, Full time
Be the first to apply
Competitive
Intern

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Risk Intern - Masters Student - Summer 2021 - Boston, MA / New York Req ID: 2003047 Date posted 09/27/2020 Risk Intern - Masters Student - Summer 2021 - Boston, MA / New York - 2003047 Description Summary of Responsibilities:

The Model Risk Summer Internship role will provide the intern with an opportunity to gain a stronger understanding of Model Risk Management within the Banking industry. They’ll be part of a diverse team of talented quantitative professionals who interact with senior risk team personnel, business managers, model owners and other bank disciplines in order to understand business operations and dynamics, and analyze, monitor, and manage related risks.

This 2021 Summer Internship is for graduate and PhD students who have an anticipated graduation date between December 2021 and May 2022.

The application deadline for this position is Sunday, October 18, 2020. All applications received after October 19 will be reviewed on an as-needed basis.

This internship position is located in New York/Boston, MA. Before applying, please keep in mind that our internship program does not offer any relocation assistance. To learn more about our summer internship program and the activities included, please visit https://www.santandercareers.com/students.

Essential Functions:

Some responsibilities of the Risk internship role may include but are not limited to:

  • Develop and execute initiatives such as researching new modeling methodologies and new approaches to the management of model risk.
  • Conduct robust validations of a wide variety of models (asset liability management, mortgage, derivatives , pricing, market and credit risk models  against established standards, developing benchmark, challenger and replication models where applicable.
  • Review ongoing model performance, assess overall model health within a given framework, identify potential issues and work with stakeholders to resolve these.
  • Evaluate conceptual soundness and methodologies of wide range of models
  • Evaluate model assumptions and weaknesses, prepare and present reports describing the results of the validation analyses and list the recommendations for addressing any issues identified.
  • Manage the resolution of findings with model owners and developers.
  • Work very closely with model owners and developers to understand the business context for model use, producing technical guidance and adding value to the business process.
  • Support senior MRM personnel in their communications with risk committees, auditors, regulators, and senior management regarding model risk and its potential effects on the risk profile of the bank,
  • Conduct hands-on programming and software calculations for data analysis and modeling, as needed to support quality assurance checks or project work flow and time lines
  • Ability and willingness to distinguish material vs. non-material issues to prioritize work and outcomes assessments as part of model development and validation work
  • Ability to conduct focused meetings, seeking to explain and organize team and actions using crisp language and discussion, with a view to courteous and professional treatment of internal and external teams.
Qualifications Requirements:
  • Currently enrolled in a Master’s Degree or PhD program in a quantitative field such as mathematics, finance, physics, statistics, quantitative finance, econometrics, engineering or actuarial sciences
  • Strong knowledge of statistics, programming, probability, econometrics, derivatives pricing
  • Minimum cumulative GPA of 3.00
  • Knowledge of SAS/SQL/PostgreSQL/pandas or equivalent tools to manage large data sets
  • Experience using VBA/Python/R
  • Ability to locate at New York, NY /Boston MA
  • Good to have CFA, FRM
  • Strong team and communications skills, both verbal and written
  • Familiarity with one or more of Asset Liability Management, Investment Management, Market Risk, Quantitative Financial Management, Credit Risk, Modeling and Analytics
  • Self-directed, self-motivated and demonstrated experience providing ideas and solutions to further business understanding
Working Conditions:
  • Extended working hours may be required as dictated by management and business needs
  • May be required to lift, push, or pull materials weighing up to twenty (20) pounds
  • May be required to sit and review information on a computer screen for long periods of time
  • May require repetitive motions of the hands and wrist related to writing and typing at an electronic keyboard
  • Corporate / satellite office role
  • Travel to multiple facilities may be required
At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.
Job : Risk Management Primary Location : United States Organization: CRO (8855) Schedule : Full-time Job Posting : Sep 25, 2020, 8:07:32 PM Share this job
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