Illinois Housing Development

Compensation

Full Description

Position Title: Financial Analyst Intern Department: Finance   Who we are: The Illinois Housing Development Authority (IHDA) is one of the Nation’s preeminent Housing Finance Agencies and one of the State’s ten largest financial institutions. Our mission is to finance the creation and preservation of affordable housing across the state. IHDA oversees more than 20 federal and state programs on behalf of the state of Illinois and serves as one of the state’s primary resources for housing policy and program administration. For over 50 years, IHDA has led the state in financing and supporting affordable housing.   At IHDA we strive to create and maintain a work environment that promotes diversity, recognition and inclusion. IHDA is committed to hiring and investing in individuals of diverse talents and backgrounds to ensure a range of perspectives and experiences inform and guide our work of financing affordable housing in the state of Illinois.   Summary: This is a Financial Analyst internship in the Finance Department for the Illinois Housing Development Authority. The department evaluates and monitors financial business of the Authority, performs, provides analysis on financial arrangements and obligations, and undertakes necessary action (for the Authority to achieve its mission) while maintaining and managing acceptable financial risks. The Financial Analyst intern will rotate across two primary functional areas of the Finance Department, Capital Markets (“CM”) and Financial Planning and Analysis (“FP&A”).  Rotation One (1) is within Capital Markets, where the Finance Intern will assist with cash management, investment operations, and debt-related activities. Responsibilities may include helping process financial transactions, supporting the execution and monitoring of debt issuances, contributing to financial reporting, and performing analytical work related to IHDA’s assets, liabilities, and overall funding strategy.  Rotation two (2) will be in FP&A whereby the Financial Analyst intern will complete a program project that will yield historical activity, cost trending, and both cost reduction and process efficiency recommendations.      Responsibilities: * Work with teams, peers, and other stakeholders to define and implement new processes, procedures, and controls to improve efficiency and reduce risk. * Overall evaluation of the Authority’s single-family pipeline, daily positioning and trading. * Assist with the investment of funds of various accounts and ongoing financial reports of the team. * Assist in the purchases and sales of securities of various Authority managed funds in conjunction with the current Illinois Public Funds Investment Act, policies and procedures; participate in TBA forward trade settlements. * Run and monitor the department’s inbox/file folders to ensure emails and documents are properly filed. * Supports compliance and monitoring, reporting and recording of ongoing business activities. Maintains the integrity of business activities/transactions throughout the entire business process and supports business continuity practices applicable to the department. * Assist with daily cash management activities such as wire transfers for disbursements as well as monthly settlement of trust accounts. * Assist in directing, moving and reconciling funds including Federal government-type funds, State trust funds or any other similar funds deemed by the Authority. * Produce and review daily reports of trust accounts and compare them to ensure trust accounts have sufficient funds to make timely debt service payments.    * Help research and analyze new and improved ways to generate revenue for the Authority. * Participate in bond issuance transactions, working with counterparties such as the financial advisor, investment banks, legal counsel, trustees and rating agencies. * Participate in review of the financial feasibility, risks and costs and benefits of existing and new debt. * Works with quantitative analyst and Trustee(s) to facilitate liability oversight and handling of proper recording of debt issuance and ongoing record management. * Gathering and analyzing data related to product costs, including grant and loan expenditures, direct, and indirect costs. * Collaborate with cross-functional teams to identify data requirements, sourcing, and defining. * Conduct research to benchmark against standards, where applicable. *  Prepare detailed historical activity, cost reports, and presentations for management review. * Performs other duties assigned. Experience:   * Currently a senior or graduate-level student pursuing a degree in Finance, Economics, Statistics, Business Administration, or Public Policy. * Strong analytical skills, including the ability to work independently and assume responsibility for transactions and / or project deliverables with minimal supervision. * Excellent organizational skill set and ability to handle multiple assignments.  Proficient PC skills, including experience with Microsoft Office Suite.        Knowledge of database systems and data analysis.   * Effective interpersonal skills.  Able to build relationships with internal and external partners and suggest solutions. Good oral/written communication skills. Ability to communicate effectively with Management.  * Business Acumen - Understands how businesses work.   Willingness to learn business strategies, tactics, and information affecting his/her business and organization. Physical Requirements: Alternating between sitting, standing, and walking. Ascending and descending stairs. Crouching and stooping. Pushing and pulling. Reaching overhead or below. Repetitive tasks movements (filing, keyboarding, copying). Lifting, carrying, and moving objects of up to 10 -15 pounds. IHDA’s Summer Internship Program Highlights: * Paid Internship * Open to college students (must be an actively enrolled undergraduate or graduate student at the time of applying) * Full-time hybrid internship program that runs from June – August (typically 10 weeks) * You will receive on-the-job training from industry experts * Participate in workshops to gain insight on key departments at the Authority * Participate in IHDA’s Mentorship Program * Attend outings to connect with fellow interns EOE