What are the responsibilities and job description for the 2025 Summer Internship - Payments Product Management position at The Clearing House?
About The Clearing House : The Clearing House (TCH) is a banking association and payments company that is owned by the largest commercial banks in the United States. TCH owns and operates the core payments system infrastructure in the US and is currently working to modernize that infrastructure by launching a new, ubiquitous, real-time payment system. TCH is the only private-sector ACH and wire operator in the US, clearing and settling nearly $2 trillion in US dollar payments each day, representing half of all commercial ACH and wire volume. TCH has provided critical services to the banking industry since 1853, and today, our core products facilitate services including Direct Deposit of payroll, bill payments, and check image exchange.
About TCH Product Development and Management : The TCH Product Development and Management organization is responsible for day-to-day product management including business planning, functional product strategy, product economics and client and market analysis as well as technical product management and product commercialization.
TCH Payments Product Management Intern(s) will be responsible for supporting one or more of these functions across its product offerings :
Real Time Payments (RTP) - Launched by TCH in 2017, RTP is the first new U.S. payments network in more than 40 years and offers 24 / 7 instant clearing and settlement of payments between checking accounts of network banks. RTP currently reaches more than two-thirds of U.S. checking accounts, serving more than 800 banks and credit unions.
Core Products - In addition to real-time payments, TCH offers products for ACH electronic payments (EPN), high-value wire payments (CHIPS) and check image clearing (SVPCO).
- ACH provides safe, efficient and cost-effective processing of electronic transactions in a batch environment. The Clearing House's ACH operations service is called EPN, which handles essentially half the U.S. commercial ACH volume.
- The CHIPS® network is the largest private sector USD clearing and settlement system in the world, clearing and settling $1.8 trillion in domestic and international payments each business day.
- The Clearing House Image Exchange Network (SVPCO) is an industry utility that allows financial institutions of all sizes to exchange check images in the most efficient and cost-effective way.
As an intern you will gain exposure to how product management operates in the financial services arena, including how to collaborate within the organization and with industry stakeholders.
Qualifications Required :
Qualifications Desired :
Essential Functions and Responsibilities :
Physical demands and work environment : Work is generally sedentary in nature. The working environment is generally favorable. Lighting and temperature are adequate, and there are no hazardous or unpleasant conditions caused by noise, dust, etc. Work is generally performed within an office environment, with standard office equipment available. Travel may be required.
Employees will report to the office two to three days each week. Onsite work requirements may change at any time.
The anticipated hourly rate range for this position is $20-$24. Hourly rate will be determined by the role, experience, skill set and location.
Salary : $20 - $24
