2026 Summer Internship - Housing & Community Investment (HCI)
Location Boston
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The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England serving more than 420 financial institutions across the region. 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 420 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 helps 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 of 225 is 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, robust benefits, and a work-life balance.
Bank Interns are expected to work in our Prudential Tower office in Boston's Back Bay neighborhood as often as possible. The Bank does offer full-time employees a hybrid work model that does require weekly in-office time.
The Bank does not offer remote internships.
The Bank is not able to sponsor work authorization for Interns.
Internship Summary
The intern will work within the Housing and Community Investment (HCI) department to complete the reviews, analysis, research, and reporting for projects funded through the Bank's programs for affordable housing and community development to ensure compliance with federal regulations, program policies, and Bank procedures. These core programs include the Equity Builder Program (EBP), the Affordable Housing Program (AHP), Housing Our Workforce (HOW), and Lift Up Homeownership (LUH).
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.
This role is ideal for someone who is passionate about learning the affordable housing and economic development industry and has 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. The HCI intern will need to perform functions with a high degree of attention to detail and independence. Cross-training will be provided to support additional positions and processes within the department.
The pay for the internship is $28/hour. This is a full-time internship, anticipated to require 40 hours a week, and it will be part of our 2026 summer internship cohort, running from mid-May to mid-August 2026.
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.
Benefits for the Intern
· Expand network and establish relationships with and receive hands-on guidance from HCI team to ensure a successful internship experience.
· Gain real world experience in a professional office setting.
· Acquire an understanding of the Bank's community investment programs and the different ways the Bank supports members and community development.
· Opportunities to learn about the work carried out by other departments.
· Monthly commuter support, up to $100 a month.
Qualifications
Education
· Progress towards an undergraduate degree in Business, Planning, Government, or a relevant field of study . Those with a completed degree will also be considered.
Experience
· Experience in extracurriculars, projects, and work related to Housing and Community Development.
· Prior experience in an office environment is preferred.
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.
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.
Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
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