What are the responsibilities and job description for the Collateral Operations Intern position at Federal Home Loan Bank Pittsburgh?
FHLBank Pittsburgh offers 12-week paid internships as a part of its talent acquisition strategy. Talented students are provided with the opportunity to gain hands-on work experience, explore their career interests and broaden their professional network while helping FHLBank Pittsburgh achieve its business objectives and strategic goals. The program is designed to offer a substantive experience by exposing talented students to the banking industry and our culture of development through clearly defined responsibilities and / or projects.
To promote collaboration and relationship building, FHLBank Pittsburgh operates in a hybrid model with employees in the office three days per week and remote two days per week.
The Collateral Operations Intern is part of the Corporate Risk Management department and will :
Assist in preparation of daily securities reconciliations, using Bank systems and reports to ensure member pledged securities meet eligibility guidelines
Assist in preparation of weekly third-party securities reconciliation, using reports from third party custodians to ensure member pledged securities meet eligibility guidelines
Assist in tracking, outreach and preparation of collateral agreements; track agreements through outreach to members, FHLB legal, and Chief Credit Risk Officer
Assist department in records retention updates, including assisting dept. leads in updating record locations for official records
Assist in the municipal bond inventory update project; review and approve bond documentation and notate in database
Other duties as assigned including a variety of current and emerging projects
Required Experience
Students must be enrolled in an accredited four-year institution and have completed at least their sophomore year with a minimum GPA of 3.0
Students must be pursuing a relevant field of study (e.g., finance, economics, accounting, business or other related fields) and have the ability to work, at a minimum, May / June through August of the internship year
Attention to detail - ensuring documentation is accurate, complete and in compliance with procedures
Organizational skills - efficiently manages multiple deadlines, projects, and priorities
Technology proficiency - Competency in using Excel for analysis and reporting (must be able to use VLOOKUP, SUM, AVERAGE, MIN, MAX). Intern will be taught how to utilize financial reporting software such as Bloomberg
It is the policy of the Federal Home Loan Bank of Pittsburgh to ensure equal employment opportunity (EEO) for all employees and applicants for employment without regard to race, religion, color, sex, national origin, age, disability status, genetic information, veteran's status, ancestry, sexual orientation or status as a parent as defined by applicable law. It is the Bank's policy to comply with applicable laws concerning the employment of persons with disabilities, including reasonable accommodation for applicants and employees with disabilities.
