2025 Summer Internship - Housing & Community Investment (HCI)

Location Boston

Apply Now (https://phh.tbe.taleo.net/phh01/ats/careers/v2/applyRequisition?org=FHLBBOSTON&cws=38&rid=421)

The Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 440 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that help our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.

Our highly skilled team is diverse, innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, comprehensive wellness benefits, and a work-life balance.

This internship is slated to begin in late May 2025 – late August 2025. This is a hybrid internship with the expectation of a minimum of two in-office days per week. This is a paid internship at $25.00 per hour. This intern will work 35 hours per week.

Job Profile Summary

The HCI Intern is responsible for the completion of reviews, analysis, research and reporting for projects funded through FHLBank Boston’s special programs for affordable housing and community development to ensure compliance with federal regulations, program policies, and Bank procedures. This position requires the incumbent to perform functions with a high degree of attention to detail and independence. This role primarily supports four of our core programs – the Equity Builder Program (EBP), the Affordable Housing Program (AHP), Housing Our Workforce (HOW), and Lift Up Homeownership (LUH).

This role is ideal for someone with entry level experience in a related field that enjoys using their financial acumen, analytical, customer service and research skills in a highly collaborative team environment. Minimal travel may be necessary for this role.

This role is responsible for assisting with the primary review, analysis, and recommendation of EBP/HOW/LUH homebuyer qualification and household income calculations and subsidy disbursement transactions, including communications with the member financial institutions on issues and clarifications.

During the annual AHP funding round, the incumbent will perform the same or similar functions as the other team members and will assist in the online application testing and other round preparation and during the round will review and analyze AHP applications for recommendation of funding. He/she will also prepare individual application recommendation reports and assist department management in the analysis and reporting of the round recommendations for senior management and the Board.

This position will cross-trained to support additional positions and processes within the department. The incumbent will be assigned other duties as needed.

Specific Responsibilities

Equity Builder Program, Housing Our Workforce Programs, Lift Up Homeownership – Review for compliance with AHP regulation and department policies and procedures of the following:

· Review EBP/HOW/LUH household income calculations and enrollments and make a recommendation to the secondary reviewer

· Review and recommend of EBP/HOW/LUH subsidy disbursement requests

· Review and processing of EBP/HOW/LUH subordination requests, net gain/recapture calculations, and foreclosure notifications

· Effectively support members with program technical assistance

· Assist with month-end accounting reconciliations

Affordable Housing Program

· Assist in monthly reconciliation of AHP program subsidies to accounting records

· Perform assigned research projects

· Assist in preparation/distribution of monthly/quarterly AHP portfolio/staff-monitoring reports

· Other tasks and special department projects, including special research and/or reports related to affordable housing and community economic development

· Participation in department outreach, training, and educational activities

· Provide other assistance to team members

Other

· Assist with monthly reconciliation tasks, including pulling and distributing reports

· Assist with research and presentation projects as needed

· Participate with software testing and upgrades, submitting recommendations for needed changes

· Assist with updating forms and procedures as needed.

· Other duties as assigned.

Knowledge/Skills

• Strong interpersonal skills are required, including the ability to work well on team-based projects and the ability to work independently.

• Strong time management and organizational skills are required.

• Strong analytical skills and excellent attention to detail are required.

• Proficiency in effective written and oral communication is required.

• High degree of customer service to ensure a positive member experience.

• Diligence in adherence to policies, while seeking process improvements.

• Strong computer proficiency is required, including Microsoft Excel and Word.

  Education

• Current students working towards a degree in Business, Planning, or Government are the target audience for this internship. Those with a completed degree will also be considered.

• Prior work experience in an environment other than retail is required. Prior experience in a professional environment is preferred.

  Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.

  The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.

  Applications are being accepted on the Careers page of our website: www.fhlbboston.com

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