What are the responsibilities and job description for the 2025 Summer Internship - Risk 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 the TCH Risk Office:
The Risk Office advances risk management governance and oversight responsibilities in alignment with the Enterprise Risk Management Framework and incorporating the companys Three Lines of Defense risk management model. The Risk Office currently consists of eight specific areas which include Enterprise Risk Management (ERM), Product Risk Management, Information Security (IS), Systemic and Liquidity Risk Management (SLRM), Risk Assurance (RA), Vendor Risk Management (VRM), Model Risk Management (MRM), and Regulatory Affairs.
These areas are responsible for core risk management activities within TCH, covering the risks inherent to carrying out the companys day-to-day operations, as well as its strategic and emerging risks. The Risk Office also has responsibility, in partnership with the Legal department, for coordinating TCHs responses to regulatory oversight and fulfilling the requirements that stem from the companys role as a Financial Market Utility (FMU) and its Systemically Important Financial Market Utility (SIFMU) designation as the operator of the Clearing House Interbank Payment Systems (CHIPS) system.
About TCH ERM/VRM/RA Summer Internship Program:
TCH ERM/VRM/RA Summer Internship Program is an 8-week experience for rising college juniors and seniors interested in the field of risk management. Interns will be located in either New York City or Winston-Salem, North Carolina. Over the course of the 8-week program, interns will have the opportunity to learn about risk management activities of a SIFMU as well as supporting and governance of risk for the first line of defense. While working within one of our core Risk Office departments, each intern is assigned a hands-on project, which culminates in a presentation to Risk Office senior leadership. Opportunities for the 2025 Summer Internship Program will have a focus on, but not limited to, the following capabilities:
- Assist with risk management processes and GRC tool management
- Respond to vendor management requests from TCH external customers
- Assist with Risk and Control Self-Assessments (Quarterly Execution, Analysis, Reporting)
- Assist in risk reporting processes, including assessing Key Risk Indicators (KRIs)
- Assist with issues management analysis and reporting
- Participation in various risk management related meetings
- Performs other ad hoc projects as assigned
Skills, Experience and Qualifications Required:
- Currently enrolled, rising junior or senior, pursuing a Bachelors degree in risk management, business administration, management information system, mathematics, finance, economics, or a related area
- Strong technical and PC skills (MS Office applications)
- Strong analytical skills
- Ability to work both independently and in a collaborative environment
- Attention to detail and ability to analyze, synthesize, organize, and communicate information
Functional Skills:
- Ability to learn quickly and apply new concepts
- Flexibility in adapting to various assignments and supporting team goals
- Strong written and verbal communications skills
- Energetic and eager to tackle new projects and ideas
- Ready to apply classroom learning to a real-world environment
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
