Job overview

The Interest Rate Risk Intern will take part in a project aimed at segmenting client deposits to enhance behavioral modeling for interest rate risk. This role offers hands-on experience in data analysis, management, mining, and classification. Interns will also become familiar with various deposit products and customer behaviors, while learning about risk management—especially treasury and interest rate risk—with support from seasoned professionals in the Global Treasury Risk Management group and collaboration with other project participants.

Key responsibilities

• Collect all necessary data inputs to evaluate deposit segmentation.

• Implement appropriate data cleansing and imputation methods as needed.

• Perform research on data mining and classification methodologies.

• Develop a thorough understanding of State Street’s deposit product characteristics.

• Analyze the primary factors driving interest rate risk exposure in State Street’s deposit products, working closely with the GTRM group.

• Work collaboratively with the GTRM group and other stakeholders to identify potential segmentation attributes.

• Evaluate various segmentation strategies by integrating key attributes considering their materiality and influence on risk drivers’ behavior.

• Contribute to the formulation of a segmentation proposal for non-maturity deposits.

• Compile comprehensive documentation of project findings and outcomes.

Required skills

• Pursuing a degree in Finance, Economics, Risk Management, Mathematics or a related quantitative field

• Currently enrolled in an undergraduate program

• Proficiency in Microsoft Office Suite (Excel, Access, Word, Outlook, Power Point)

• Familiarity with the use of databases

• Strong written and verbal communication skills

• Strong organizational and multitasking skills

• Strong initiative and problem-solving skills

• Ability to work effectively in a team environment

• Previous internship experience is a plus

Salary Range:

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.