Commercial Banking Internship

What Makes You a Great Fit

You are an undergraduate college-level student who is interested in gaining financial and operational experience in a Community Bank environment. You are willing to work onsite to learn from field experts and gain valuable exposure to bank operations and financial processes.

What we Offer

This is a paid internship. You will gain first-hand knowledge within your area of interest, which may include:

• Exposure to high-net-worth clients and prospects
• Development of communication and presentation skills within a professional work environment
• A thorough understanding of bank policies and external regulatory requirements.
• Participation in education events, networking and presentations.

Compensation & Benefits

Base pay: $18.50/hour

Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent's knowledge, skills and experience.

Benefits: How We Support You - Old Second

Minimum Qualifications

• Must have a high school diploma or equivalent and be in pursuit of an undergraduate college degree, as follows:




• Currently enrolled in college; or
• Enrolled in college for Fall 2025; or
• College graduate between May 2024 - June 2025




• Must have reliable transportation and be able to work onsite. Onsite locations depend on the department. Common onsite locations include Downers Grove, Oakbrook, Aurora and Chicago-Wacker.
• Must be available to work 20-40 hours per week and be available to start late May/early June through the end of July/early August.
• Internship durations vary between 8 - 12 weeks.

Competencies

• Proficient in using Window 2010 Office software with intermediate skills in Word, Excel and PowerPoint.
• High degree of accuracy and attention to detail.
• Ability to work in a fast-paced environment; prioritizing work and multi-tasking.
• Desire to work in a professional environment.

Commercial Banking Internship

Commercial Banking at Old Second focuses on offering business customers lending, banking and treasury management solutions for their business. Our business customers span from small to middle market businesses with commercial credits under $1m and up to $30m of more. We offer business loans, Commercial & Industrial lending, Investment Real Estate, and some Specialty lending.

The Commercial Banking Intern will be responsible for learning and participating in all aspects of the Commercial loan lifecycle. The intern will spend time in three departments including Commercial Credit, Commercial Banking, and Loan Operations. The intern will have an opportunity to learn and participate in the following.

Rotate within the Commercial Credit department whose primary responsibility is to structure, underwrite and mitigate risk in lending. The intern will perform functions utilized to make decisions on credit structure and risk, as follows:

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  • Spread customer financial statements, assess risk ratings, participate in preparation of exception reports and comply with company and regulatory guidelines.
  • Assist Commercial Bankers with renewals and portfolio management; perform loan covenant testing.
  • Review and underwrite basic commercial credits; produce thorough and accurate packages that include all relevant risk, trends and industry information.
  • Review and manage commercial loan collateral.
  • Review and understand real estate and other property appraisals and their bearing on the loan structure and risk.
  
  
  
  

Rotate within the Commercial Banking department whose purpose is to prospect for new business, build commercial relationships, manage a business portfolio and advise customers of lending and banking products that best support their business. The intern will:

• Review and understand client base and portfolio
• Review and collect supporting loan documentation required to originate/renew a loan. This may include:
  
  
  
  • Coordinate documents to ensure proper documentation is gathered for new loans, renewals, and covenant monitoring. This includes ordering third party due diligence reports (flood certificate, certificate of good standing, suits liens and judgements, etc.) as required for loan underwriting.
  • Run and track key reports to identify and follow up on past dues, renewals, and other actionable account data.
  • Assist Commercial Bankers with their financial tracking items, collecting the document from the customer or lender, uploading the document to Onbase and adjusting the tracking date.
  
  
  
  
• Attend banker calls, loan closings, portfolio management, etc.
• Attend Loan Committee meeting
• Attend networking events with Banker,
• Learn and review Portfolio Management issues including outstanding financial exceptions. Participate in crafting letters to obtain necessary financials
• Loan renewal - look at maturing loan report - needed items and requests

Rotate within the Loan Operations department whose purpose is the oversight of loan documentation, records, and updates of consumer and commercial loans within the Bank. Verticals within the department include loan boarding, servicing, documentation, and collateral management. The department manages the upkeep and release of records through the various stages of the loan from inception through maturity. The intern will:

• Validate and update ticklers in core related to insurance exceptions.
• Process payments, maintenance, and payoff funds.
• Request documents loan officers, or third-party vendors for outstanding items.
• Insurance tracking/ contact insurance companies for updated insurance.
• Research tax status on collateral property.
• Send notification letters to customers.
• Other projects may be assigned.