Intern - Model Risk Management

Job Description

Job Description

Thank you for your interest in the First Merchants 2027 Summer Internship Program! First Merchants is seeking highly motivated, enthusiastic college students for our 12-week paid summer internship program.

Why Intern at First Merchants?

• Gain hands-on experience in the financial services industry
• Work on meaningful projects that impact the business
• Receive mentorship from experienced professionals
• Build relationships with leaders across the organization
• Participate in networking and development events
• Volunteer alongside fellow interns during a community service project
• Present accomplishments and key learnings to senior leadership

Summer Internship Program Overview

First Merchants internship opportunities are available in a variety of business areas including Credit Administration, Commercial Banking, Consumer Banking, Treasury Management, Private Wealth, Technology, Human Resources, Marketing, Risk, Operations, and other business functions.

Department Internship Duties & Responsibilities

The Model Risk Management   Intern will support the team through day-to-day responsibilities, projects, and initiatives that contribute to the Bank’s model governance, AI governance, model review, and tool governance programs. The intern will gain exposure to second-line risk management practices and support work that helps ensure models, AI-enabled solutions, and non-model tools are appropriately identified, documented, assessed, monitored, and governed.

Responsibilities may include assisting with model inventory updates, model determination documentation, AI and Copilot agent governance reviews, questionnaire tracking, risk assessment support, policy and procedure documentation, validation and review evidence organization, meeting preparation, and the development of reporting materials for management and governance forums.

Below is what you can expect to learn from an internship in Model Risk Management at First Merchants Bank:

1. How financial institutions govern models across the end-to-end model risk management lifecycle, including model identification, risk assessment, validation, ongoing monitoring, issue management, and inventory maintenance.
2. How AI and Generative AI governance practices are applied in a banking environment, including review of AI use cases, Copilot agents, policy alignment, audit evidence, and escalation processes.
3. How to support model review activities by organizing documentation, assessing completeness of evidence, tracking findings or action items, and understanding the role of effective challenge.
4. How non-model tools and technology-enabled solutions are evaluated, documented, and monitored to support appropriate governance and risk oversight.
5. How risk management professionals communicate observations, prepare reporting, and collaborate with business, technology, compliance, and enterprise risk partners.

Successful students will possess:

• Initiative
• Enthusiasm
• Strong Work Ethic
• Team Mentality
• Self-Motivation

In addition to the learning objectives, all interns will participate in a coordinated community service project. Interns will have an opportunity to network with Executive and Senior Leadership at our Intern Meet & Greet event and will present a summary of their experience at the conclusion of the internship program.

Required Qualifications

• Be a full-time Bachelor (or higher) degree-seeking student at an accredited college or university.
• Be available to work 40 hours per week from May 17th- August 6th, 2027 .
• Be authorized to work in the United States.
• Have demonstrated interest in the industry and/or specific area of interest.
• Possess a GPA of 3.0 or higher.
• Be able and willing to travel periodically throughout the First Merchants footprint, if applicable.

About First Merchants:

First Merchants Corporation is the largest financial services holding company located in Central Indiana. We provide our clients with broad financial services delivered locally by bankers who are known and trusted in their communities. We offer personal banking, business banking, mortgage lending, treasury management services, and wealth management.

Since its organization, the Corporation has grown to include more than 126 banking center locations in Indiana, Michigan, and Ohio, and a wealth management company.  

Our Vision Is:

To enhance the financial wellness of the diverse communities we serve.

Our Mission is:

To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.

Our Team:

"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."