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Model Risk Intern Jobs in Illinois (NOW HIRING)

Ocean Tomo, LLC

Ocean Tomo Summer Internship

Chicago, IL · On-site

$20 - $30/hr

... 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 ...

Ocean Tomo

Summer Internship

Chicago, IL

$20 - $30/hr

... 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 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 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 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 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 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:
Model Risk Intern jobs near you
Bilingual Clinical Case Management Intern

Bilingual Clinical Case Management Intern

Trilogy Inc

Chicago, IL

Internship

Posted 16 days ago

Job description

Job Summary

The Clinical Case Management Intern will work to provide clinical case management services to youth, young adults, adults and their families receiving services out of Trilogy’s Child & Adolescent Services department, primarily within its specialty programs. The two major programs that this intern will provide case management, assessment, and/or short-term therapy support will be the various teams within the Child and Adolescent Services department: Impact: Youth & Families Outpatient Therapy, Mental Health Juvenile Justice Program, the Hope First Program, First Episode Psychosis.

This position will be based out of the Edgebrook office, although will have capacity to work with clients in-person offsite (e.g., school, client home, court) and remotely.

Impact: Youth & Families Outpatient Therapy: The intern will support youth (6-25 years of age) and their families who are referred for case management services by their therapist. This individual will collaborate with other treatment team members to address unmet needs related to mental wellness.

Mental Health Juvenile Justice Program (MHJJ): The intern will support program goals of reducing recidivism, improving wellbeing, and addressing risk to at-risk youth and youth in the juvenile justice system (8-18 years of age). This individual will partner with youth, families, and other natural supports to complete preliminary and comprehensive assessment measures and to develop goals and action plans. This individual will provide strengths-based, client-centered, and trauma-informed services to clients with mental health diagnoses and co-occurring substance abuse disorders using a youth development approach.

Hope First Program, First Episode Psychosis (FEP): The intern will work with individuals 14-40 years of age, who are having their first experience with psychosis. This intern will collaborate with other treatment team members to provide a combination of case management and counseling supports.

Essential Responsibilities

  • Provide comprehensive biopsychosocial assessment services to youth and adults, as well as their families
  • Develop individualized treatment plans with the input of the client and their team, which includes providers and natural supports. Collaborate with members of the client’s team to ensure quality of treatment and coordination of care
  • Work to facilitate recommended services from the assessment and treatment plan, such as (but not limited to): counseling/therapy, family psychoeducation, educate on potential resources to meet holistic needs, linkage to entitlements, learn independent living skills, support with employment and education needs, navigate systems medical or court.
  • Outreach and engage referred at-risk youth and individuals having their first experience with symptoms of psychosis
  • Serve as an advocate for client and family needs
  • Assist clients in identifying signs and symptoms of decompensation. Work collaboratively with clients to identify coping skills to assist in managing symptoms and stressors experienced.
  • Accompany clients to important medical/psychiatric/housing/financial appointments in the community. Interns will not transport clients in their personal vehicle.
  • Communicate effectively within the team model for a multi-disciplinary approach to client care.
  • Maintain documentation and chart in compliance with Medicaid, Commission on Accreditation of Rehabilitation Services (CARF), and agency standards
  • Perform other related duties and/or projects as assigned.

Qualifications

  • Completed Bachelor’s Degree in Social Work, Psychology, or Counseling required.
  • Daily access to a well-maintained vehicle.
  • Experience working with youth, young adults, and their families.
  • Availability to work evenings.
  • Availability to attend weekly Team Meetings and Group Consultation, currently held on Tuesday mornings
  • Availability to attend biweekly Bilingual Intern Clinical Consultation group, currently held on Monday mornings
  • Availability to begin August 2026 until the end of May 2027
  • Must pass IM+CANS exam within one month of start date.
  • Bilingual in Spanish, required.

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