Summer Associate Internship

Overview The summer associate will support the management of mortgage loan portfolios sold to investors by assisting with key functions including remittance, reporting, and reconciliation. This role involves helping ensure the timely and accurate transfer of funds to investors, supporting the preparation and submission of loan-level and summary reports, and verifying and aligning loan data and financial transactions. The intern will gain exposure to servicing guidelines established by Government-Sponsored Enterprises (GSEs) such as Ginnie Mae (GNMA), Freddie Mac (FHLMC), and Fannie Mae (FNMA), as well as Private Investors. Under supervision, the summer associate will contribute to the accurate and timely execution of investor deliverables while learning the operational and regulatory aspects of mortgage servicing. The summer associate will support a key initiative focused on optimizing the GNMA Pools Adjustments report process. This report is critical for reconciling variances between Navy Federal and Ginnie Mae by adjusting “Other Amounts” in the Mortgage Servicing System (Director 7) for GNMA pools. Currently, over four hundred pools are manually adjusted by analysts, making the process time-intensive and ripe for improvement. As a Summer Associate, you will: Collaborate with analysts to identify workflow pain points and bottlenecks. Gather and analyze data to support process improvement recommendations. Review and document the current workflow to identify opportunities for automation and efficiency gains. This is a great opportunity to gain firsthand experience in financial operations, process optimization, and cross-functional collaboration within a dynamic team environment. The Summer Associate Program is a 12-week internship program beginning in May 2026 and ending in August 2026. Students will work on impactful projects and meaningful work during their internship. To qualify for this position, applicants must be currently pursuing a degree from an accredited college or university and have an anticipated graduation date of December 2026 or later. Responsibilities Learn about changes in mortgage industry guidelines and regulations to understand how they affect investor reporting tasks. Assist with daily and monthly reconciliations of loan data and financial records to ensure accurate reporting and remittances. Help review loan activity to identify and resolve discrepancies, such as rejected loans or default-related transactions. Support the preparation of investor reports and updates in systems like the Mortgage Servicing System (Director 7) and GNMA’s Reporting and Feedback System (RFS). Contribute to audit preparation by gathering documentation and assisting with compliance reporting for GSEs and private investors. Participate in monthly reporting tasks and help update models, summaries, and journal entries. Assist with system updates and process improvements related to investor initiatives. Collaborate with internal teams and respond to basic inquiries from investors. Take part in team projects and meetings to support business goals. Perform other tasks and special assignments as needed. Qualifications Currently pursuing a bachelor’s degree in a related field Experience with operational research, analysis, and process improvement Experience using data and analytic tools such as Excel, Power BI, or Tableau Good communication and presentation skills Comfort with organizational design, data gathering and analysis, and telling stories Ability to work independently and think outside of the box Strong strategic, operational, and analytical thinking skills Basic knowledge of financial services/payments is a plus Hours: Monday - Friday, 8:00AM – 4:30PM Location: 820 Follin Lane, Vienna VA 22180 About Us Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks. Our approach to careers is simple yet powerful: Make our mission your passion. • Fortune 100 Best Companies to Work For 2025 • Yello and WayUp Top 100 Internship Programs • Computerworld® Best Places to Work in IT • Newsweek Most Loved Workplaces • Fortune Best Workplaces for Women ™ 2024 • 2025 PEOPLE® Companies That Care • Newsweek Most Trustworthy Companies in America • Military Times 2024 Best for Vets Employers • Best Companies for Latinos to Work for 2025 • Forbes® 2025 America's Best Large Employers • Forbes® 2025 America's Best Employers for New Grads • Forbes® 2025 America's Best Employers for Tech Workers • 2025 RippleMatch Campus Forward Award Winner for Overall Excellence • Military.com Top Military Spouse Employers 2025 • 2025 Handshake Early Talent Award From Fortune. ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union. Equal Employment Opportunity: All qualified applicants will receive consideration for employment without regard to age, race, sex, color, religion, national origin, disability, veteran status, pregnancy, sexual orientation, genetic information, gender identity or any other basis protected by applicable law. Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position. For additional details regarding compensation and benefits, review the Benefits page () of the Navy Federal Career Site. Protect Yourself from Job Scams: Navy Federal Credit Union jobs are posted on our career site, jobs.navyfederal.org and reputable job boards (e.g., LinkedIn, Indeed). We do not post jobs on social media marketplaces, messaging apps or unverified websites. We will never ask candidates for payment, bank details or personal financial information during the hiring process. Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act. REQNUMBER: 26922