2025 Consumer Banking Intern

Salem Five is a growing regional financial services organization with a rich history of over 160 years.  As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices.

Summer Intern Assignment

The intern program at Salem Five Bank is a paid summer internship. Internships are open to college students completing their sophomore or junior years. This is a five day per week assignment, (M-F) 8:30 a.m. to 5:00 p.m.  (2025 program dates are Tuesday, May 27, 2025 through Friday, August 8, 2025.)

During the assignment, the intern will have the opportunity to work with members of the Consumer Banking Division and others to gain a working knowledge of processes and overall business operations in Retail Banking, Community Business Banking, and Consumer Lending, and through partnership with other key areas of the bank.  Throughout the eleven-week program, the intern will participate in Salem Five events and gain valuable insights into the many facets of Consumer Banking specifically, and banking as a whole.

The intern will join the team after completing an Intern Orientation on their first day.

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.

Day 1

The intern will meet with a representative from Human Resources for an orientation to the company.  The intern will then meet with Chris Danjou, SVP Strategic Planning and Initiatives and Melissa Reardon, VP Retail Applications, Systems & Project Manager, who will present the intern with the Week One schedule and review the division’s organizational structure. A lunch will be scheduled and introductions to other team members will be made over the course of the first week to learn about each member’s role and responsibilities within the department.

Duration of Program

The intern will rotate through the different divisions of the Consumer Bank and other key areas of the bank throughout the duration of the program.  What follows is a general framework for the program, including principal activities, though timing and details may vary. 

Weeks 1-2

Branch Banking:  The intern will travel to a number of branch locations, together with a Regional Manager/SVP, to meet teams and observe/participate in customer interactions with the primary goal being to gain an understanding of branch responsibilities, the customer experience, and the many workflows that begin at the point of customer interaction.  This knowledge and experience are the foundation upon which the remainder of the program is designed.

Weeks 3-5 (~3 days in Week 5)

Retail Administration: 

• Intern will work with the Retail Operations team to gain an understanding of policy, procedure, and compliance matters and participate in performing branch audits conducted in the field (~one week).
• Intern will work with the VP Retail Applications & Project Manager on a variety of projects underway for the division (~one week).
• Intern will work with the Retail Analyst to gain an understanding of, and participate in, the creation of performance reports and sales incentive compensation files (~three days).

Week 5 (~2 days)

Deposit Operations:  Intern will work with our partners in Deposit Operations to understand the ‘back-shop’ workflow associated with nearly every customer interaction, engaging in compliance and policy monitoring activities, researching and resolving customer and branch employee research requests, learning about ACH and Wire Transfer processes, and the like.

Week 6

Contact Center/Digital Delivery & Support: Intern will spend a week with our partners in the Contact Center and Digital Delivery & Support to gain hands-on experience in the multi-faceted support environment that is a call center, and an understanding of Salem Five’s ‘virtual bank’ line of business.

Week 7

Community Business Banking Sales:  Intern will spend a week with one or more Business Bankers gaining product knowledge, calling on business prospects individually or jointly with branch partners, meeting with existing customers, building relationships, working through new business deals, networking, and establishing connections. 

Week 8

Community Business Banking Operations:  Intern will gain an understanding of operational workflows involved in small business lending activities and be exposed to reading financials and underwriting loans.  Will engage, hands-on, in many of the business line processes to include loan package preparation, underwriting, quality assurance reviews, etc.

Week 9

Consumer Lending:  Intern will learn about the consumer lending business at Salem Five through a review of the product set, qualification criteria, and hands-on engagement in the process of reviewing and approving loans.  

Week 10-11

Retail Administration:  Intern will spend the final weeks of the program back in Retail Administration to complete any remaining project work, “rate” the program’s structure, provide feedback, and meet with divisional leadership.

Company and Networking Events

The intern will be involved in several company events including the Cancer Walk and the Company Outing and will attend/participate in business/social events such as, but not limited to, Chamber of Commerce breakfast meetings, and bank-sponsored evening events. 

Intern Professional Development Opportunities

During the internship period, the intern will have the opportunity to:

• Engage with different members of the organization and understand the business from a practitioner’s perspective.
• Develop job-related skills.
• Participate in industry meetings or events.

Skills and Mindset Desired for the Position

To be considered and to be successful, we will be seeking the following:

• Professional demeanor and passion for learning
• Strong interpersonal skills with a desire to deliver superb customer experiences
• Can-do attitude with high energy, ability to multi-task, and willingness to work on a variety of initiatives simultaneously
• Critical thinker with strong attention to detail
• Resourceful self-starter with the ability to work on assignments both independently and in teams
• Strong data and process analytical skills

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.

Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.