The Program
This is a 10-week full time summer internship opportunity, commencing on June 2, 2026. Candidates must be available for the entire program to be considered.
Primary responsibilities
This position will support model risk efforts to review bank's innovative modelling initiatives such as AI or ML as well as improving model risk monitoring and model reviews.
* Perform model or tool (such as AI use cases) review from model risk perspectives
* Utilize AI/ML tools to analyze models or model implementation
* Analyze model risk implications per regulatory requirements such as using VantageScore 4 for mortgage credit rating
* Benchmark model performance
* Contribute to Ad-hoc projects as needed
Skills & Experience
* Quantitative and analytically oriented especially with models, statistical analysis, data analysis, Machine Learning (ML) and Artificial Intelligence (AI) analysis.
* General understanding or course work of fixed income markets, products, pricing, and risk management a plus.
* Fluency with statistical and numerical methods such as regressions, probability theory, Monte Carlo simulation, default forecasting.
* Excellent verbal and written communicator.
* Team player adaptable to changing roles and requirements.
* Excellent computing skills, Python, Excel, Visual Basic, etc.
* General understanding of Federal Home Loan Bank mission and business model is a plus.
Salary: $27 per hour
The Federal Home Loan Bank of New York is committed to recruit, hire, develop, motivate, promote, retain, and compensate all applicants and employees in a nondiscriminatory manner without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, status as a parent, disability, genetic information, military or veteran status, or any other characteristic protected by applicable law (including title VII of the Civil Rights Act of 1964).
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