Summer Associate Internship
5 days ago
Make sure to apply quickly in order to maximise your chances of being considered for an interview Read the complete job description below.
Our CECL (Current Expected Credit Loss) Quantitative Modeling Team operates at the heart of the Lending Business unit, building accurate credit loss forecasting models through advanced statistical technique, and playing a pivotal role in ensuring the financial stability of Navy Federal Credit Union by informing CU leaders the right level of credit reserve recommendations. Our team’s primary responsibility is to develop and implement advanced quantitative models that enable accurate assessments of potential credit losses across our lending portfolio.
The Summer Associate will work in a flexible hybrid manner and report to leadership at our Vienna, VA campus. Responsibilities will include analyzing data and participating in activities related to quantitative modeling. As part of the team, you will have the chance to work on real-world projects, collaborate with seasoned professionals, and contribute to impactful initiatives. You’ll gain exposure to quantitative modeling techniques commonly employed by nation’s largest financial institutions, and learn analytical skills applied to large financial data.
Potential projects include following.
Develop models to test and evaluate different modeling techniques
Investigating and analyzing potential model performance-improving independent variables
Analyzing model performance and understanding the cause of prediction errors
Finding potential performance-improving changes to the existing models
Model sensitivity analysis
Analyzing portfolio shifting and its impacts
Economic research relating to portfolio performance
Automating modeling related activities using R or Python
The Summer Associate Program is a 12-week internship program beginning in May 2025 and ending in August 2025. 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 2025 or later.
Responsibilities
Perform data pull from source data systems and prepare data for analysis or model development
Analyze data to understand its impact on model performance
Participate in model development, model execution and model monitoring related activities
Work with experienced modeling professionals within the team to support various initiatives
Perform other ad hoc analysis
Prepare reports of analytical findings
Qualifications
Currently pursuing a master’s or PhD degree in a quantitative field like statistics, computer science, data science, quantitative finance, or economics
Experience with research, analysis, and data manipulation
Experience using programming and analytic tools such as: Python, R, SQL, or Tableau
Strong problem-solving, critical, and analytical thinking skills
Good communication and presentation skills
Comfort working with large datasets and understand the basic database concepts
Ability to work independently and think outside of the box
Basic knowledge of financial services/payments a plus
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.
• Best Companies for Latinos to Work for 2024
• Computerworld® Best Places to Work in IT
• Forbes® 2024 America's Best Large Employers
• Forbes® 2023 The Best Employers for New Grads
• Fortune Best Workplaces for Millennials™ 2023
• Fortune Best Workplaces for Women ™ 2023
• Fortune 100 Best Companies to Work For® 2024
• Military Times 2023 Best for Vets Employers
• Newsweek Most Loved Workplaces
• Ripplematch Campus Forward Award - Excellence in Early Career Hiring
• Yello and WayUp Top 100 Internship Programs
From Fortune. ©2024 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: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.
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
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
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