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Model Risk Intern Jobs in Illinois (NOW HIRING)

Casual/seasonal & intern team members are not eligible for benefits except for state-mandated ... Supports model risk management for all Asset Liability Committee (ALCO)/pricing models, including ...

Casual/seasonal & intern team members are not eligible for benefits except for state-mandated ... Supports model risk management for all Asset Liability Committee (ALCO)/pricing models, including ...

AI and BI Data Intern

Chicago, IL · On-site

$18 - $24/hr

We help companies and individuals around the globe address their most significant risk, workforce ... Data Engineering & Analytics * Assist in the development and maintenance of enterprise data models ...

... strategy and risk management consulting; mergers and acquisitions; debt and equity private ... As an intern, you may be engaged in financial modeling, research, and report composition. We work ...

... strategy and risk management consulting; mergers and acquisitions; debt and equity private ... As an intern, you may be engaged in financial modeling, research, and report composition. We work ...

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Model Risk Intern information

What is the difference between Model Risk Intern vs Quantitative Analyst Intern?

AspectModel Risk InternQuantitative Analyst Intern
Required CredentialsTypically pursuing or holding a degree in finance, mathematics, or related fieldsSimilar educational background, often with additional focus on finance or economics
Work EnvironmentRisk management teams within banks, asset managers, or financial institutionsQuantitative research teams in investment firms, banks, or hedge funds
Employer & Industry UsageCommon in risk management departments across financial servicesPrevalent in trading, investment, and financial analysis roles

The Model Risk Intern focuses on identifying, assessing, and mitigating risks associated with financial models, ensuring their accuracy and compliance. In contrast, the Quantitative Analyst Intern typically develops and applies mathematical models for trading, investment strategies, or financial analysis. Both roles require strong quantitative skills and often overlap in educational background, but they serve different functions within financial organizations.

What are Model Risk Interns?

Model Risk Interns are students or early-career professionals who support the model risk management teams within financial institutions or other organizations that rely on quantitative models. Their responsibilities typically include assisting with model validation, documentation, testing, and analysis to ensure models are accurate and compliant with regulatory requirements. They work under the supervision of experienced model risk analysts, gaining hands-on experience in risk assessment, data analysis, and regulatory compliance. This role is ideal for individuals pursuing degrees in mathematics, statistics, finance, or related fields.

What types of projects do Model Risk Interns typically work on, and how do these projects support the overall risk management function?

As a Model Risk Intern, you will often assist with validating financial and statistical models used across various business functions, such as credit risk, market risk, and operational risk. Your projects may include reviewing model documentation, performing sensitivity analysis, and preparing validation reports. These tasks help ensure the accuracy and reliability of models that inform critical business decisions, directly supporting risk management and regulatory compliance. Additionally, you’ll collaborate closely with quantitative analysts, model developers, and risk managers, gaining valuable exposure to cross-functional teamwork in a fast-paced financial environment.

What are the key skills and qualifications needed to thrive as a Model Risk Intern, and why are they important?

To thrive as a Model Risk Intern, a strong background in quantitative analysis, statistics, and finance—often supported by coursework in mathematics, economics, or related fields—is essential. Familiarity with programming languages like Python or R, experience with statistical modeling tools, and knowledge of regulatory guidelines such as SR 11-7 are typically required. Analytical thinking, attention to detail, and clear communication are vital soft skills for explaining complex models and collaborating with stakeholders. These skills ensure accurate model validation, effective risk assessment, and compliance with regulatory standards in financial institutions.
What are the most commonly searched types of Model Risk jobs in Illinois? The most popular types of Model Risk jobs in Illinois are:
What cities in Illinois are hiring for Model Risk Intern jobs? Cities in Illinois with the most Model Risk Intern job openings:

Alternative Delivery Project Analytics Intern

Dar Group

Chicago, IL • Remote

$35/hr

Full-time

Medical, Life, Retirement, PTO

Posted 4 days ago


Job description

TYLin is a globally recognized, full-service infrastructure consulting firm committed to providing innovative, cost-effective, constructible designs for the global infrastructure market. With over 3,000 employees throughout the Americas, Asia, and Europe, the firm provides support on projects of varying size and complexity. Together, we enhance conventional designs with smarter, more resilient systems. We provide people with better mobility. We steward precious resources by finding more sustainable solutions.

Job SummaryThe Alternative Delivery Methods (ADM) group is seeking an intern to support the evaluation and financial health monitoring of major infrastructure projects from business development through project commissioning.
This role focuses on helping the team assess project risk, financial performance, and delivery strategy, particularly on large lump-sum and alternative delivery projects. The intern will work closely with project managers and leadership to refine financial tools, improve reporting accuracy, and enhance the analytical frameworks used to monitor project performance.
This internship is ideal for a graduate student interested in project finance, infrastructure delivery, and risk analysis, and may be structured to support a capstone or applied research project in collaboration with the company.Responsibilities & Qualifications

Responsibilities

  • Support analysis of project financial and risk health across the project lifecycle, frombusiness development through commissioning.

  • Develop andmaintainExcel-based financial and risk analysis toolsused to track project performance.

  • Work directly withproject managers and delivery teamsto gather insightsonproject risk exposure and performance.

  • Assistwith improvingfinancial reporting accuracyand ensuring project data is captured consistently and reliably.

  • Performstatistical and financial analysisto help evaluate project outcomes and delivery strategies.

  • Refine and enhance internaltools, templates, and playbooksused for project monitoring and risk evaluation.

  • Supportsimulation, risk modeling, and scenario analysisrelated to project delivery performance.

  • Contribute totool development and automation, including potential programming or Excel/VBA enhancements.

  • Participate in internalAlternative Delivery Methods (ADM) trainingand gain exposure to delivery strategies such as Design-Build and other alternative contracting approaches.

Qualifications

Education

  • Currentlypursuing aMaster'sdegree or MBAin one of the following areas:

  • Business Administration (MBA)

  • Engineering Management

  • Finance

  • Statistics

  • Risk Management

  • Operations, Analytics, or a related discipline

Candidates with a background inengineering transitioning into business or management studiesare strongly preferred.

Preferred Experience

  • Exposure toalternative delivery methods, infrastructure projects, or construction management

  • Experience working withengineering, construction, or project delivery teams

  • Academic or professional work related toproject financial analysis, risk evaluation, or infrastructure delivery

Technical Skills

  • AdvancedMicrosoft Excelproficiency

  • Experience withfinancial modeling and data analysis

  • Knowledge ofstatistical analysis or simulation methods

  • Experience withVBA or Excel automationis highly desirable

  • Interest in developing analytical tools or improving internal workflows

Internship Experience

  • Exposure toreal project financial and risk dataacross active infrastructure programs

  • Participation inADM training and project strategy discussions

  • Opportunity to structure internship work as acapstone or applied graduate projectin coordination with university programs

  • Work alongside project managers and leadership involved inalternative delivery infrastructure projects


Additional Information

At TYLin, we strive to create a supportive and enriching learning environment that empowers you to make an impact. If you are excited about this role, we encourage you to apply even if you don't meet every qualification listed.

TYLin is committed to pay equity. This position offers an hourly compensation range of $20 to $35 per hour. Compensation will be based on individual skills, experience, education, and qualifications.

#LI-Remote

#LI-DNP

TYLin offers a comprehensive total rewards package. Our benefits may include extensive medical, disability and life insurance coverage, continuing education benefits, paid time off, employee assistance program and a retirement savings plan with company matching contributions.

We encourage all candidates to explore our total rewards offering.

Collaboration, mission-driven focus, discipline, and leadership skills developed through military service benefit us all. Whether you are a Veteran, Guardsman or Reservist, a Military Spouse or you are planning to transition to civilian life in the near future, we welcome and value your application.

TYLin is an equal opportunity employer, and we prohibit discrimination and harassment of any type as protected by federal, provincial, state or local laws. We celebrate diversity and are committed to creating an inclusive environment for all employees.The company and its employees are required to comply with all local health authority, legal or lawful client requirements.