Graduate Student Intern / Financial Products Consultant
Chicago, IL
Internship
Student (College)
Position Title: Graduate Student Intern / Financial Products Consultant
Division: Financial Products and/or Public Market Investments and/or Data Analytics and Business Intelligence
Domicile: Chicago
Position Summary:
The Illinois State Treasurer’s Office serves as the primary investment officer and banker for the state of Illinois, managing approximately $60 billion in assets. In addition to managing the state investment portfolio, the Treasurer also manages a $20 billion investment fund on behalf of more than 1000 local units of government across Illinois. In addition, the State Treasurer provides low-cost, high-quality financial products to support over 500,000 individuals and families in saving for retirement, higher education, and expenses related to disabilities. These programs are designed to empower families with the tools they need to achieve the American Dream. As of the end of 2024, the financial products offered by the State Treasurer's Office held over $20 billion in assets across retirement, college, and disability savings and various public and private market investment accounts. Various divisions within the Illinois State Treasurer’s Office are responsible for administering these programs, including oversight and strategy, investment analysis, marketing, product development, corporate engagement, stewardship, legislation, public policy, and legal matters.
The Illinois State Treasurer’s Office seeks graduate student interns who will contribute to our mission. Through a full-time, 3-month summer internship, graduate student interns will gain hands-on experience in public finance through projects that may include data analysis, policy research, investment analysis, legislative research, and program development. Interns will be assigned projects associated with one or multiple teams, depending on interest, background, availability, and need. Interns who complete their summer service may also be invited to continue their internship on a part-time basis during the academic year.
Supervision:
Reports to a member of the Financial Products or Public Market Investments Team.
Supervisory Responsibilities:
N/A
Duties and Responsibilities:
General:
- Learn about the Illinois State Treasurer’s Office, including major financial products and investments.
- Learn about state government and public finance through research, meetings, informational interviews, and project-based work.
- Learn about the Illinois State Treasurer’s Office public investment process, including portfolio reviews, manager due diligence, portfolio manager interviews, investment performance analysis, and asset class research.
- Contribute to the work of the Illinois State Treasurer through project assignments encompassing analysis, research, and product development. Examples include:
Examples of Analysis Activities:
- Perform analyses of Illinois’ 529 College Savings, ABLE, and Secure Choice populations of account holders and marketing strategies. Share findings and provide recommendations for improvement.
- Analyze asset classes, investment performance, investment fees, and/or investment managers and provide recommendations for improvement.
- Analyze use of the Illinois Funds portfolio by local governments and identify interesting patterns and opportunities for programmatic change.
Examples of Research Activities:
- Conduct research on federal and state legislation and programming related to college savings, disability, and/or retirement savings.
- Conduct research to recommend program and service enhancements to the Treasurer’s financial products, including:
- Research on 529 college savings and children’s savings initiatives at the local, state, and national levels.
- Research on IL ABLE-related activity and efforts by local, state and national disability rights and service organizations.
- Research on state-administered retirement programs.
- Contribute to academic research studies undertaken by the State Treasurer’s Office in conjunction with its research partners at the University of Chicago Inclusive Economy Lab, Northwestern University Kellogg School of Management, and Civis Analytics.
- Conduct exploratory research on potential investment offerings within the Treasurer’s Office financial products, including analysis on asset classes, share classes, and portfolio construction.
- Conduct research on emerging investment programs and best practices to be implemented by the State Treasurer’s Office, including sustainability practices, infrastructure investments, alternative private investments, and/or student loan financing.
Examples of Product Development Activities:
- Research emerging product enhancements and make recommendations for new or improved program components to the Treasurer’s college savings, ABLE, and retirement programs.
- Contribute to the implementation of new and existing financial products and programs, including the Illinois First Steps Children’s Savings Account program and Financial Education program.
Professional Development
The State Treasurer’s Office is committed to the professional development of its graduate student interns. All interns will be expected to engage in informational interviews, networking, industry conferences, resume reviews, and other professional development activities to help with the intern’s future professional career.
Background:
- Must be a current student pursuing graduate-level studies in public policy, public administration, business administration, social work, or a related field at an accredited graduate school.
Specific Skills:
- Reliable, organized, and positive with a “can-do” attitude and strong overall work ethic.
- Experience researching and synthesizing large reports, legislation, articles, and/or data sets.
- Data-oriented with comfort in Microsoft Excel. Other data management and data analysis tools such as Power BI, Tableau, Python, or R a plus.
- Excellent written and verbal communication skills.
- Strong commitment to the mission of state government, with the ability to maintain satisfactory working relationships, and communicate effectively with all levels of the staff and members of the general public.
- Interest in public policy, public finance/investments, and personal finance.
- Education or work experience in public finance and/or investments a plus, but not required.
Internship Benefits:
- Compensation in-line with other public sector full-time internships.
- Five business days of unpaid vacation permitted throughout the three-month internship.
- Potential for paid part-time role in the academic year after internship completion; with eligibility based on each intern’s performance, capacity, and/or interest.
To Apply:
- Please complete the online internship application on the Treasurer’s website
- Please submit the completed internship application, along with a resume, cover letter, and professional writing sample, according to the instructions on the online internship application.
- Select candidates will be invited to interview for a full-time internship.
Equal Employment Opportunity Employer. Applicants must be lawfully authorized to work in the United States.
Applicants are considered for all positions without regard to race, color, religion, sex, national origin, sexual orientation, age, marital or veteran status, or the presence of a non-job related medical condition or disability.
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