Job Description
Position Summary:
The 2026 summer internship position sits within the State Street Investment Management (State Street IM) - Operational Risk Management team. The Investment Management ORM team provides independent risk oversight to State Street IM’s business through various operational risk management programs such as error/incident analysis, Targeted Risk Assessment (TRA), Material Risk Identification (MRI), Key Risk Indicator (KRI), Risk and Control Self-Assessment (RCSA) and other risk governance and reporting activities. State Street IM is the asset management arm of State Street Corporation and provides investment solutions and services to world’s largest institutional clients. With over $5 trillion in AUM and 2,100 institutional clients in 57 countries, State Street IM is the 4th largest asset management firm in the world.
Our Team:
We are a diverse team of over 65 risk professionals based in Boston, Stamford, London, Dublin, Krakow, Bangalore and Sydney. As a combined group, we are responsible for identification, control, and reporting of operational, investment, liquidity, credit, and model risk globally. All over the world, institutional investors rely on State Street Investment Management to help them deliver on diverse investment objectives, handle risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and talented, engaged employees are critical to our continued success. Our promise to maintain an environment where every employee feels valued and able to meet their full potential inspires our mission. It’s also part of our dedication to inclusion, development and engagement, and corporate social responsibility.
Your Duties and Responsibilities:
As an Operational Risk Intern, you will be
Supporting operational risk leads on various incident root cause analysis by collecting, cleaning, analyzing incident and business data; creating various charts, graphs and tables; and help the lead in interpretating data, summarizing and presenting the results and risk insights to senior management and committees;
Executing targeted risk assessments (TRAs) under the supervision of operational risk leads. TRAs are projects/reviews of targeted GA business activities and functions, which may have shown actual or perceived higher risks and may require mitigating actions. TRAs involve walkthroughs, interviews with business unit management to identify gaps and areas for improvement and provide practical recommendations;
Working with operational risk team members in the development of Artificial Intelligence (AI) solutions and other special projects.
What we Value:
These skills will help you succeed in this role:
Strong data analytical and communication skills
Some programming (Phyton and R) skills and experience will be useful in order to successfully engage in the operational risk AI project
Intellectual curiosity, flexibility and ability to work in a self-motivated environment
Attention to detail
Strong knowledge of Excel and PowerPoint is a plus
Skill Development Opportunities:
As an Intern, you will have the opportunity to gain the following:
Learn more about risk oversight governance, framework and programs within an asset management firm, including the connections between Risk (2nd line) and business units (1st line)
Familiarity with the IM business areas (Investments, Operations, Sales and Marketing and other functions)
Learn about enterprise risk management (ERM) and other State Street IM risk disciplines (market, counterparties, liquidity, model)
Involvement in AI operational risk projects and develop understanding of operational risk data, models and various other analytical approaches and methods
Salary Range:
$41,600 - $65,000 AnnualThe range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.
Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
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Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.