2025 Summer Intern - Underwriting & Portfolio Management (Boston, MA)

Description

Start Date: May 2025

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 program, high performers will get early consideration into the Commercial Banker Development Program (CBDP), a 1-year rotational training and development program and start to your career in Commercial Banking.

Underwriting and Portfolio Management (U&PM) focuses on underwriting credit requests for new and existing clients and managing / monitoring the bank's portfolio through the life of the relationship. There are many client groups within U&PM including Middle Market, Mid Corporate, Commercial Real Estate, Asset Finance, and Business Capital, to name a few. Colleagues in U&PM work in cross-functional teams to review and analyze historical and projected financial performance, identify risks and mitigants, structure credit facilities, ancillary banking products and services for the bank and its clients. U&PM ensures that clients are complying with the terms of the underlying credit facilities and monitors for any current or future deterioration in credit, as well as future opportunities to assist clients in achieving their goals and objectives.

For the internship, you will be placed within one of the following U&PM teams in Boston:

• The Asset Based Lending Team is a vertical of the bank that lends to businesses in the form of facilities secured by collateral that is governed by a highly monitored borrowing base with Advance Rates typically against Accounts Receivable & Inventory. Leveraged names are common for the group with risk classification remaining normal due to collateral governance of the loan.
• The Subscription Finance & Services (SF&S) portfolio management team oversees a portfolio of private equity fund relationships of varying size and complexity and applies credit policy and fields questions related to the underwriting and portfolio management of subscription lines of credit, which are used to manage capital calls from the funds limited partners. The team conducts detailed research and due diligence of the fund's limited partners, market trends and other factors related to the financing that will be considered as part of credit decisions.
• The Streamlined Accounts Center of Excellence ("SACOE") Team provides centralized management expertise of small accounts in Commercial. SACOE drives efficiency and consistency of portfolio management and underwriting standards through colleagues who are encouraged to champion change, redesign / improve processes, and drive innovation.
• The Commercial Real Estate New England Team structures, underwrites and maintains a portfolio of CRE loans for institutional sponsors while following the lifecycle of the loan. The portfolio consists of a variety of asset types for both income producing and construction loans.

Job Responsibilities

The summer intern will work as part of a commercial client coverage deal team. You may get exposure to all Underwriting & Portfolio Management responsibilities including financial analysis, financial covenant tracking, credit risk assessment, and preparation of credit approval requests. The position will support Portfolio Managers (PM), Credit Analysts (CA), and Relationship Managers (RMs) in new loan transaction underwriting, loan monitoring, and business development activities:

• Monitor for the receipt and accuracy of client reporting including financial statements, covenant compliance certificates, and collateral requirements.
• Assist in 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.
• Performs market analysis and assist in the development of commercial client prospect lists as needed. Works 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 deal screen presentations and credit approval meetings.
• Work as part of the deal team on a deal screen or new transaction.
• 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:

• Successfully complete a video interview assessment within 7 days of receiving the link. If not completed within the timeframe, your application will be automatically withdrawn from consideration.
• Current students enrolled in an undergraduate bachelor's program, graduating between Winter 2025 - Spring 2026 OR current students enrolled in a graduate program, graduating between Winter 2025 - Spring 2026
• Minimum GPA of 3.2; Preferred cumulative GPA of 3.5.
  • Please include your cumulative GPA on your resume.
• Relevant work experience, leadership 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.
• Candidates 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 intern / full time Analyst positions and candidates must have permanent authorization to work in the U.S

Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.

Equal Employment Opportunity

At Citizens we value diversity, equity and inclusion, and treat everyone with respect and professionalism. Employment decisions are based solely on experience, performance, and ability. Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression (including transgender individuals who are transitioning, have transitioned, or are perceived to be transitioning to the gender with which they identify), genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague's or a dependent's reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws.

Equal Employment and Opportunity Employer

Citizens is a brand name of Citizens Bank, N.A. and each of its respective affiliates.

Background Check

Any offer of employment is conditioned upon the candidate successfully passing a background check, which may include initial credit, motor vehicle record, public record, prior employment verification, and criminal background checks. Results of the background check are individually reviewed based upon legal requirements imposed by our regulators and with consideration of the nature and gravity of the background history and the job offered. Any offer of employment will include further information.
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