Long Term Intern Internal Financial Reporting

Who we are

Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.

Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.

An internship with The Federal Home Loan Bank of Chicago is not like your average internship. We can offer you a dynamic, collaborative, and team-focused environment you won’t find anywhere else. You will be engaged in projects that will provide you with real world, firsthand experience in the exciting world of financial services.

We are currently looking for a long-term intern to work full-time during the summer and part-time (up to 19 hours per week) during the school year in our Internal Financial Reporting area. Note: we are only considering local candidates to the Chicago area, as we expect this Intern to work from our Chicago office during the summer and during the school year.

This is a unique opportunity to work at a diverse financial institution. You will assist with projects that include coordinating internal requests/communications, report generation, financial analysis, internal meeting presentations, etc.  In addition, you will learn and work in the Bank’s financial and governance, risk and compliance applications.  Cross departmental interaction (both in person and virtual) is an integral part of the intern’s responsibilities and activities.

Executive Summary of Accounting/Internal Reporting

The Internal Reporting department of the Financial Accounting and Markets (FAM) group has responsibility for tasks and projects that support the FAM group and the Bank as a whole.  The team owns the Bank’s accounts payable and employee reimbursements processes and is responsible for accounting and reporting related to operating expenses, capital projects and fixed assets, and board of director expenses. The team also completes daily and monthly reconciliations of various general ledger accounts. The team’s hard work, effort, and attention to detail help provide accurate financial statements on a daily basis, as well as makes sure vendors are paid on time to keep Bank-wide systems and software online. Being a part of the Internal Reporting team will provide experience in daily and monthly accounting activities that are supported by GAAP and financial analysis, as well as give experience working with many internal and external parties of the Bank

How you'll make an impact:

• Supporting activities to promote and maintain internal and external customer expectations within the organization.

• Bringing new ideas and skills to bring operational efficiency to the team and/or financial reporting group at large.

Requirements:

• Applicants should be enrolled in an undergraduate program at an accredited institution.

• Should have a GPA of at least 3.0 and be in good academic standing.

• Desired fields of study include Accounting or other Business discipline.

• Proficient in Microsoft Office products such as Excel, PowerPoint, and Word.

• The start/end date and work hours may be flexible based on school schedule with maximum 7.5 hour work day, 20+ hours a week.

Knowledge, Skills, Abilities and Behaviors: 

• Analyze and reconcile specified balance sheet and income statement accounts on a monthly basis

• Compile and analyze financial information to help prepare monthly, quarterly, and annual financial statements

• Perform accounts payable processing and supplier payments

• Support annual operating expense and capital budgeting process

• Ensure financial records are maintained in compliance with accepted policies and procedures

• Annual IRS reporting

• Ensure accurate and timely monthly, quarterly and year-end financial close

• Assist in the execution of, development of, and maintenance of accounting policies, procedures and controls in accordance with sound accounting principles, applicable regulations and laws, as well as best practices

• Independently identify and resolve accounting discrepancies and irregularities

• Participate in internal and external audits

• Assess and advise on operational process improvement opportunities.

Salary Range:

The above represents the expected salary range for this job requisition.  Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc