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Model Risk Intern Jobs in Illinois (NOW HIRING)

Jump Trading

Campus Software Engineer (Intern)

Chicago, IL · On-site

$250K/yr

At Jump, research outcomes drive more than superior risk adjusted returns. We design, develop, and ... Strong understanding of data structures and threading models * Ability to work with a team in a ...

New

Jump Trading

Campus Data Engineer (Intern)

Chicago, IL · On-site

$250K/yr

At Jump, research outcomes drive more than superior risk adjusted returns. We design, develop, and ... Strong understanding of data structures and threading models * Ability to work with a team in a ...

New

Jump Trading

Campus Data Engineer (Intern)

Chicago, IL

$250K/yr

At Jump, research outcomes drive more than superior risk adjusted returns. We design, develop, and ... Strong understanding of data structures and threading models * Ability to work with a team in a ...

New

Crowe LLP

Tax Intern Winter 2027

Chicago, IL · On-site +1

$27 - $42/hr

This role follows a hybrid work model for candidates located near a Crowe office. Candidates who ... risk and performance services. Crowe is recognized by many organizations as one of the country ...

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All JobsModel Risk Intern JobsModel Risk Intern Jobs in Illinois

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
Manager of Financial Analytics, Corporate FP&A

Manager of Financial Analytics, Corporate FP&A

Culligan

Rosemont, IL • On-site

$140K - $155K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 8 days ago

Culligan rating

6.4

Company rating: 6.4 out of 10

Based on 124 frontline employees who took The Breakroom Quiz

368th of 430 rated machine equipment manufacturers

Job description

Position: Manager of Financial Analytics, Corporate FP&A
Supervisor: Vice President, Corporate FP&A
Location: Rosemont, IL (Global Headquarters)
Summary:
The Manager of Financial Analytics, Corporate FP&A plays a critical role in enabling enterprise-wide financial insight across
Culligan's global portfolio. This role owns the development, analysis, and institutionalization of key financial and operational
metrics, translating complex data into forward-looking insights that inform executive decision-making. Operating in a rapidly
growing, highly complex environment, this individual will partner closely with Corporate FP&A leadership, Regional FP&A teams,
Financial Systems, and Investor Relations to strengthen forecasting, risk assessment, and KPI discipline in support of operational
excellence and IPO readiness.
Key Responsibilities:
Enterprise Analytics & Modeling
  • Own the tracking, analysis, and interpretation of key financial and operational metrics, including volumes, pricing,
    sourcing, inflation, and other drivers impacting performance and forecast accuracy.
  • Build and maintain robust financial models to support trend analysis, scenario planning, and forward-looking risk
    assessments across reporting segments and business units.
  • Conduct in-depth P&L and variance analysis, identifying trends, opportunities, and risks; provide clear insights and
    recommendations to senior leadership.

Reporting, Forecasting & KPI Discipline
  • Lead the institutionalization of a consistent, scalable KPI tracking and reporting framework across the portfolio.
  • Support the development of world-class reporting and forecasting processes aligned with best-in-class finance
    organizations.
  • Ensure insights are actionable, timely, and tailored for executive and board-level audiences.

Business Partnership & Stakeholder Support
  • Partner with the CFO, COO, and Global Finance leadership to advance enterprise data analytics capabilities.
  • Collaborate with Regional FP&A teams to enhance transparency, comparability, and insight across diverse operating
    environments.
  • Support Investor Relations and IPO readiness initiatives through financial analysis, modeling, and data rigor.

Systems, Process & Continuous Improvement
  • Work closely with the Financial Systems team to optimize data structures, reporting tools, and analytics platforms.
  • Identify opportunities to improve data quality, processes, and analytical efficiency in a complex, multi-system
    environment.
  • Drive implementation of analytical solutions that support long-term scalability and stability.

People Leadership
  • Manage and develop Senior Financial Analyst and summer Intern, providing coaching, direction, and performance
    feedback.
  • Foster a collaborative, high-performance team environment grounded in analytical rigor and continuous improvement.

Qualifications:
  • Bachelor's degree in Finance, Accounting, Data Analytics, or a related field.
  • 5 - 8 years of experience in FP&A, Private Equity, Investment Banking, Consulting, Transaction Services, or similar
    analytical roles.
  • Strong understanding of financial statements, P&L drivers, balance sheet dynamics, and key financial metrics.
  • Demonstrated experience in financial modeling, data analysis, and process improvement within complex organizations.
  • Strong communication skills, with the ability to translate data into clear insights for senior leaders.

Competencies:
To perform the job successfully, an individual should demonstrate the following competencies in this position:
  • Resourcefulness
  • Analytical
  • Team Player
  • Passion
  • Integrity
  • Organizational / Planning
  • Communication
  • Self-Awareness
  • Initiative

Target Salary Range: $140,000 - $155,000 salary a year with the opportunity for eligible employees to earn additional compensation pursuant to the Company's bonus plan. Exact pay will be based on factors including, but not limited to relevant education, qualifications, certifications, experience, level, geographic location, and business and organizational needs. Full-time positions are eligible for competitive benefits, including paid time off, health, dental, vision, life, disability benefits and 401(k).
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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