Portfolio and Model Risk Management Internship - Arch MI

Company Description

Arch Mortgage Insurance Company (Arch MI) is the flagship U.S.-based mortgage insurer of Arch Capital Group Ltd., a leading insurance and reinsurance company operating through its subsidiaries worldwide. Based in Greensboro, North Carolina, our company is committed to our employees and our customers.  Our Total Rewards package offers competitive pay and valuable benefits.  Plus you’ll have access to a variety of programs supporting your professional development and a culture that encourages innovation, collaboration and professional growth.   Arch MI is a new and growing mortgage insurance company with a strong and global parent – Arch Capital Group Ltd.  If you’re interested in spending the summer working with a dynamic company and a team of motivated, high caliber people, apply today and come grow with us!

Intern Responsibilities

The Arch MI Enterprise Risk Management (ERM) department supports all business units in identifying, measuring, monitoring, controlling and continuously reporting on the risks to which Arch MI is or could potentially be exposed.  Within ERM, the Portfolio Risk Management Team is responsible for tracking, analyzing and reporting on the $260B+ insurance portfolio, and the Model Risk Management Team is responsible for ensuring key models are appropriately developed, correctly used and effectively challenged and tested.

As an intern with the Portfolio Risk Management and Model Risk Management teams, the successful candidate will have an opportunity to work on some or all of the following projects:

-ERM Learning Rotations:  Prior to beginning more involved projects, the first project for the ERM intern will be brief learning rotations across each area of the ERM group.  Understanding the basic elements of ERM, and knowing the key personnel will provide a critical foundation for additional project work.

-Mortgage Insurance and Mortgage Industry data benchmarking:  Finding creative and analytical ways to assess the Arch Mortgage Insurance portfolio as it relates to performance and concentrations compared to industry.   Data sources may include:  Fannie Mae and Freddie Mac, competitors, structured mortgage deals and transactions, mortgage bank documentation.

-Analysis of risk management best practices in the insurance industry:  Reviewing and developing a body of information that includes some of the best methods and practices for risk management among well respected insurance companies across all industries.

-ERM failure analysis:  Taking a critical look Arch MI’s current ERM processes and practices and looking for weaknesses / failure points.  Asking the questions “how could it break” and “what could go wrong”.

-Data Governance:  Assisting the newly formed Data Governance Committee as they work to define terms in the merged company environment.

Pay Rate

Range: $18 - $20/hour
Hours/week

Average work week: 37.5-40 hours

Schedule

Monday-Friday. Hours may vary by department, but 8/8:30 - 5 pm daily

Start Date

June 4, 2018
End Date

August 10, 2018

Start / End date flexible?

Start date firm, end date has a little flexibility. Interns must be able to complete all Fellows programming throughout the second week of August 2018.
Please note: all Fellows will attend the Leonard Kaplan Leadership Institute at the Center for Creative Leadership on either June 11 & 12, 2018 or June 18 & 19, 2018. If hired as an intern through the Fellows Program, you will attend one of the sessions in June.

Our organization is interested in hiring:

Students seeking a master's degree preferred
Undergraduate students eligible to apply
Work Authorization: Our organization will consider hiring interns with the following work authorization:

U.S. Citizens or permanent residents preferred
International students on F1 or J1 visa are eligible to apply


Majors Seeking

Economics, Math, Finance, Statistics, or similar field of study 
Address of Internship location

230 N Elm St, Greensboro, NC 27401

This office is located in downtown GSO

Required Qualifications:

-Quantitative and analytical background with a degree in Economics, Finance, Math, Statistics or similar preferred

-Previous work experience (any industry) preferred

-Recently completed or currently working on a graduate degree preferred

-Proficient in MS Office product suite with strong Excel skills. 

-SAS experience a significant benefit

-Strong problem-solving skills required

Work Environment

Corporate environment in downtown Greensboro.  Industry leading Mortgage Insurance company. Great opportunity to work with and meet some of the most influential leaders in the MI industry.
Additional Internship Perks

Paid summer internship, meet and greets with Executive leadership, group outings and lunches, mentor/mentee structure throughout the summer, challenging and rewarding work. Ability/potential to be hired as a full-time employee following internship.

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Your materials have been received for one internship opportunity.

You have successfully submitted materials for one internship in the Opportunity Greensboro Fellows Program. To apply for additional internships, please revisit the Internships page. Each internship requires separate materials, as noted on each individual internship page.

As a reminder, the Opportunity Greensboro Fellows Program has two steps:

1. Complete the application on the APPLY page (you are required to submit a professional letter of recommendation as part of the application).

2. Apply for individual internships on the INTERNSHIPS page.

You must complete both steps by the deadline of Monday, February 26 at noon for consideration.

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