2024 Summer Intern – Underwriting & Portfolio Management (Irvine)

Job Title: 2024 Summer Intern – Underwriting & Portfolio Management (Irvine)

Location: Irvine, CA

Duration: 10 weeks

Start Date: May 2024

Commercial Summer Internship Program

The Commercial Summer Internship Program is designed to give interns a look at Citizens Bank’s culture and exposure into one of the many commercial banking business lines through project-based assignments, learning curriculum, networking, volunteer opportunities and formal mentorship. Responsibilities will vary based on the group you’re assigned to and will leverage your unique skills and abilities. At the conclusion of the 10-week program, high-performing interns will be considered for a potential offer for direct employment into the Retail Petroleum Team. Note that the Retail Petroleum team is in Irvine, CA and only candidates willing to work from this office location will be considered for the position.

Opportunities Overview: 

The Sumer Intern will support an Underwriting and Portfolio Management (U&PM) Team that focuses on underwriting credit requests for new borrowers and managing a portfolio of the bank’s existing borrower relationships.  Citizens Bank is seeking a Summer Intern to join its Retail Petroleum team within the Specialty Finance Group in the bank’s Irvine California office. The Retail Petroleum team finances multi-site operators of convenience and retail fueling facilities. Successful Summer Interns become well-positioned for a promising career in commercial banking and are equipped with the fundamentals of underwriting and portfolio management, which will be transferrable to a wide range of opportunities.

Responsibilities:

• The Summer Intern will work as part of a commercial client coverage deal team and will support Portfolio Managers (PM), Credit Analysts (CA), and Relationship Managers (RMs) as follows:
• Underwriting credit requests for new borrowers by assisting with credit analysis, preparation of deal screening memos, new credit approval requests, loan closings, and annual reviews of existing client relationships.  This includes learning / preparing financial models, written financial analysis, conducting industry research, and preparing written summaries of industry issues, risks, opportunities, and the competitive environment, communicating questions or observations, and utilizing internal risk and return models and loan systems.
• Managing existing borrower relationships by monitoring for the receipt and accuracy of borrower reporting including financial statements, covenant compliance certificates, and collateral requirements.
• Perform market analysis and assist in the development of commercial client prospect lists as needed.
• Work with the Relationship Managers to assist in preparation of client presentations.
• Participate in Team Meetings, Capital Markets calls and broader Commercial Banking calls.
• Participate in client meetings or conference calls.
• Network within the commercial bank and ask questions about specific roles.
• Complete other tasks and special projects as required.

Qualifications:

• Current students enrolled in an undergraduate program, graduating between Winter 2024 – Spring 2025
• Preferred cumulative GPA of 3.5
• Relevant work experience or coursework in Finance, Accounting or Economics is preferred but all majors will be considered.
• Strong analytical skills and software skills: MS Office (Word, Excel, PowerPoint) proficiency is required.
• You must currently be a U.S. Resident to be eligible for this program.
• Please note that U.S. Immigration sponsorship or work visa is not available for this position or for full time Analyst positions and candidates must have permanent authorization to work in the U.S.

This position offers $30/hr as a starting rate.

Since this a temporary position, you are not eligible to participate in the Citizens colleague benefits program. Accordingly, you will not be eligible to participate in the Citizens health and welfare plans, savings and investment plans, or discretionary award plans or any other Citizens benefit plans or programs, except as otherwise required by law.