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Model Risk Intern Jobs in Illinois (NOW HIRING)

FieldAI

Field Application Engineer -Intern

Peoria, IL · On-site

$20 - $22/hr

We are building risk-aware, dependable, and field-ready AI systems that address the most complex ... models through real-field applications. Learn more at $20 - $22 an hour About the Job We are ...

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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:
Model Risk Intern jobs near you

Spanish Language Translation and Interpretation Intern

North Suburban Legal Aid Clinic

Highland Park, IL • On-site

Other

Posted 5 days ago

Job description

North Suburban Legal Aid Clinic (NSLAC) is a dynamic nonprofit with a collaborative culture and the goal of becoming the model legal aid organization focused on suburban communities.

The mission of NSLAC is to provide accessible, quality, equitable, free legal services in the areas of domestic violence, housing, and immigration to give low-income, at-risk community members access to justice and the opportunity to live productive and secure lives.


NSLAC is seekinga bilingual Spanish-speaking intern interested in building real-world experience at the intersection of language access and public interest law. This role offers a meaningful opportunity to support immigrant and low-income clients while developing professional interpretation skills in a legal setting.


What You'll Do

  • Provide Spanish-English interpretation and translation in client interactions, accurately conveying meaning, tone, and cultural nuance.
  • Support attorneys and staff across practice areas to ensure clear and effective client communication.
  • Uphold strict standards of confidentiality, professionalism, and ethical conduct.
  • Collaborate with a diverse team and help problem-solve in a fast-paced legal environment.
  • Assist with additional tasks as needed to support client services.

Qualifications

  • Junior or senior pursuing a bachelor's degree (preferred fields: Spanish, Legal Studies, Political Science, or related areas).
  • Professional fluency in Spanish and English (spoken and written).
  • Strong communication, organizational, and interpersonal skills.
  • Ability to work collaboratively with diverse populations.
  • Experience working with vulnerable or immigrant communities preferred.
  • Ability to work 10-15 hours per week, primarily on-site at NSLAC or local outreach clinics.
  • Access to a car, a valid drivers license and auto insurance to travel within the northern suburbs of Chicago.

What You'll Gain

  • Hands-on training in legal interpretation and immigration law (three-week onboarding plus ongoing training).
  • Direct experience working with attorneys and clients in a nonprofit legal setting.
  • Exposure to immigration and public interest law practice.

Details:

  • Applications due: August 10
  • This is an unpaid internship and may be eligible for academic credit by taking The Academic Internship Course
    • As part of this opportunity, students will enroll in the College's Academic Internship Course for one credit, working closely with your CAC Internship Specialist and completing weekly assignments in addition to the hours spent on-site at your internship. Taking the course builds time into your schedule to work with a CAC advisor and receive personalized internship support and provides tools to reflect on your work and its impact on your career path.


NSLAC is committed to fostering a diverse and inclusive workplace. We are proud to be an equal opportunity employer and value the unique experiences and perspectives each team member brings.

Apply