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State Street · 1 day ago

State Street Enterprise Risk Management - Quantitative Risk Internship - Summer 2026

BOSTON

Internship

Onsite

Intern

$42K/yr - $65K/yr

Start in 2026 Summer

State Street is a leading financial services company that helps institutional investors manage risk and drive performance. They are seeking a Quantitative Risk Intern to enhance and maintain credit risk models and support credit risk analytical processes for the Commercial Real Estate portfolio.

BankingFinanceFinancial Services

Responsibilities

Enhance and maintain credit risk models (PD/LGD/EL) to provide quantitative support to credit risk analytical processes for State Street’s Commercial Real Estate (CRE) portfolio

Enhance credit portfolio risk models for CCAR/CECL/IFRS9/BASEL/Ratings/ICAAP use cases, as well as for economic capital

Review and enhance credit risk and market risk analytical methodology including modeling choices and variable selection (especially macroeconomic variables) in line with expanding business and regulatory requirements

Review and verify key model assumptions with model owners

Review model outputs with properly justified opinions and judgments by experts from credit risk and market risk managers to capture forward-looking financial market and macro-economic outlooks

Implement internally developed models on risk analytical library platform

Streamline the existing modeling and analytical process; increasing the pace of execution to meet the needs of the business

Work in close partnership with the three lines of defense functions, such as model governance, Corporate Audit and Financial Regulatory Assurance to ensure appropriate governance and control infrastructure for credit risk analytics

Prepare and present required reports/reviews to model risk management, senior management and global regulators

Qualification

Quantitative analysisRisk modelingProgramming in Python/R/C/C++/SQLStatistical methodologiesPresentation skillsAnalytical mindsetLeadership skillsOrganizational skillsCommunication skills

Required

Undergraduate student in a quantitative field such as statistics, economics, mathematics, or equivalent with strong programming skills

Strong programming skills in Python/R/C/C++/SQL, etc

Motivated and fascinated in how to apply statistics and econometric methodologies to resolve risk modeling challenges in financial industry

Strong presentation and communication skills, e.g. PowerPoint slides preparation and presentation

Strong analytical and quantitative mindset; ability to take ownership and improve on existing risk models and methodologies

Energetic/motivator: an enthusiastic individual with proven leadership skills and an ability to motivate a diverse, multi-level workforce and instill a sense of urgency on a range of evolving goals and objectives

Organizational strengths: an ability to organize projects, processes and priorities to ensure business needs are met in a coordinated, responsive and timely manner, with minimal direction

Confidence: a self-assured, experienced and knowledgeable individual able to quickly garner support for his/her views based on informed, well-presented direction or analysis, with a willingness to negotiate, and concede, when needed

Communicator: clear, confident, self-assured communication style, coupled with an ability to react and adapt to various audiences and environments without diluting effectiveness