Summer 2026
Financial Risk Management Intern
Posted on 5/16/2026
Federal Home Loan Bank of New York
201-500 employees
Wholesale mortgage liquidity provider for members
Compensation Overview
$25 - $30/hr
New York, NY, USA
In Person
Year-round internship; 15-20 hours/week during the academic year, transition to full-time in summer, potential continuation into fall.
 Finance & Banking (1) |
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- Bachelor's or Master's in Finance, Engineering, Financial Engineering, Quantitative Finance, Economics or related discipline required
- General knowledge of fixed income and derivative markets, products and risks
- Quantitative, analytical and statistical skills with keen attention to detail
- Programming skills including Python/Java, VBA, SQL. Familiarity with object-oriented programming concepts and design patterns
- Ability to prototype and program risk system solutions and reports
- Team player with great communication skills
- Develop and implement risk solutions and analytics, to decompose and attribute key risk factors using advanced quantitative methodologies.
- During the internship you will work directly with the Financial Risk Management Team on 2 key initiatives.
- 1- Process automation – develop solutions to automate repetitive tasks such as data collection, data validation and reporting. 2 -Develop scripts or tools to support new risk management initiatives such as stress testing or scenario analysis.
- Your contributions will directly enhance our risk management processes, making them more efficient and robust.
- None
The Federal Home Loan Bank of New York (FHLBNY) is a wholesale financial institution that helps local community lenders in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands grow housing and neighborhood development. It provides real-estate-collateralized credit and liquidity to its member institutions, which include commercial banks, savings banks and credit unions, so those lenders can offer affordable housing and community programs in their communities. The bank’s products work by offering secured loans and liquidity to member lenders, who then on-lend to households and small businesses. As a privately-owned cooperative within the nationwide Federal Home Loan Bank System, FHLBNY distinguishes itself by being Congress-chartered and focusing on pooled liquidity and secured credit for its members rather than direct consumer lending. Its goal is to advance housing opportunity and local community development by maximizing the capacity of member lenders to serve their markets.
Company Size
201-500
Company Stage
N/A
Total Funding
N/A
Headquarters
New York City, New York
Founded
1932
Simplify's Take
What believers are saying
- Total assets grew 12.9% to $176.7B by March 31, 2026, boosting liquidity.
- Advances surged 19.5% to $110.5B in Q1 2026 amid rising member demand.
- $225M HDC bond investment supports 6,320 affordable units, deepening partnerships.
What critics are saying
- Net income fell 18.8% to $599.8M in 2025, eroding return on equity.
- Advances dropped 13.1% to $92.5B in 2025, slashing net interest income 13.7%.
- FHFA capital plan raises stock requirements, driving member withdrawals within 18 months.
What makes Federal Home Loan Bank of New York unique
- FHLBNY serves 337 members across New Jersey, New York, Puerto Rico, and U.S. Virgin Islands.
- FHLBNY mandates real estate collateral for all credit products to community lenders.
- FHLBNY allocates earnings like $22.3M in Q1 2026 to affordable housing programs.
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Your Connections
People at Federal Home Loan Bank of New York who can refer or advise you
Benefits
Hybrid Work Options
Remote Work Options
Flexible Work Hours
Health Insurance
401(k) Retirement Plan
401(k) Company Match
Medical Insurance
Dental Insurance
Vision Insurance
Wellness Program
Company News
The Federal Home Loan Bank of New York reported net income of $599.8 million for 2025, down 18.8% from $738.5 million in 2024. Net interest income fell 13.7% to $851.8 million, driven by an 85 basis point decrease in yield on average earning assets and an $8.9 billion decline in average advances balances. Total assets stood at $156.5 billion as of 31 December 2025, down 2.4% from the previous year. Advances decreased 13.1% to $92.5 billion. Return on average equity was 7.25% for the year, compared to 8.49% in 2024. The FHLBNY allocated $66.7 million from 2025 earnings to its Affordable Housing Programme and set aside an additional $48.3 million for voluntary affordable housing and community development initiatives. The bank remained compliant with regulatory capital ratios and liquidity requirements.
The Federal Home Loan Bank of New York has invested $225 million in a New York City Housing Development Corporation bond issuance to help create, rehabilitate or preserve 6,320 units of affordable housing. This follows a $150 million bond purchase in June 2025 supporting over 2,250 homes. The investment will fund nine senior loans under the ELLA programme for extremely low and low-income housing, preservation programme financing, and rehabilitation of 3,595 public housing units through HDC's PACT programme. Affordability levels reach as low as 30% of area median income. Over 25 years, FHLBNY has invested $1.66 billion in HDC bonds, supporting 70,000 homes across New York City. The partnership reflects both organisations' focus on addressing housing affordability and supply challenges.
Columbia Bank recently celebrated $6.73 million in new grant funding from the Federal Home Loan Bank of New York for 10 affordable housing projects in New Jersey.
The Federal Home Loan Bank of New York (FHLBNY) announced the 2025 Round of its Small Business Recovery Grant Program, offering $5 million in grants to local small businesses, farms, and non-profits. Grants range from $2.5k to $10k each. Since 2020, FHLBNY has awarded $29 million to over 3,100 businesses and non-profits. The program supports organizations facing economic challenges like inflation and supply-chain issues.
"Provident Bank is proud to partner with the Federal Home Loan Bank of New York to support these worthy organizations through the Small Business Recovery Grant Program," Mary Brown, senior vice president, chief compliance officer, said.