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Campus Undergraduate - 2023 Commercial Rating and Underwriting Summer Internship

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American Express

American Express

Campus Undergraduate - 2023 Commercial Rating and Underwriting Summer Internship

Salt Lake City, UT
Internship
Paid
  • Responsibilities

    Commercial Rating and Underwriting (CRU) sits within the Credit and Fraud Risk division within American Express. The CRU team plays the critical role of assessing and managing the risk of institutional exposures across all business units within American Express, and in all regions globally. Credit exposures are primarily generated through corporate and small business card programs, via merchant service relationships where non-delivery risk exists, and among the securities portfolio held for firm-wide liquidity. CRU is led from Salt Lake City with regional teams in New York, London, Singapore, and Sydney.

    In addition to determining the internal credit rating which drives the probability of default of each exposure, CRU also calculates the loss given default of these obligors while underwriting card programs. As a bank holding company, American Express must comply with the highest global banking standards set by the bank’s primary regulator, the Federal Reserve.

    Job Responsibilities

    Interns in CRU are responsible for rating and underwriting credit exposures in their assigned region, industry, and business line. Fundamental analysis incorporates a thorough review of business, financial, industry and country risk coupled with support from internal and external rating model outputs. Assessment includes understanding of the need for credit extension, profitability of the relationship and program structures.

    Desired Skills

    • Understanding of fundamental financial analysis including the ability to review corporate financial statements to determine the ability of the obligor to honor its credit obligations

    • Comfort with GAAP/IFRS accounting standards, corporate valuation, and forecasting

    • Comfort with public agency ratings and supporting analysis

    • Understanding of current macroeconomic trends and how to provide recommendations to improve the probability of default (PD) estimation based on the business cycle

    • Experience preparing company-specific and industry-wide credit memorandums

    • Familiarity with global markets (foreign language ability a plus)

    • Confident and persuasive written and verbal communicator

    • Student working on a bachelor’s degree from a top tier university (a degree or substantial coursework in finance, accounting, economics, or statistics a plus)

    Educational Requirements

    • Currently enrolled in a full-time undergraduate degree program

    • Preference for students who have a graduation date between December 2023 and June 2024

    Employment eligibility to work with American Express in the U.S. is required as the company will not pursue visa sponsorship for these positions.

    Life at American Express

    American Express is known for backing our customers to help them achieve their goals and dreams, big and small. At American Express, we’re changing the way people live and work through meaningful projects with real-world impact. When you join our team, you can make a difference by improving the everyday lives of customers around the world.

    Growing great leaders is one of the things that sets American Express apart. Every colleague has the opportunity-and is encouraged-to take their personal leadership to the next level through a wide variety of leadership and learning programs.

    Creating an inclusive culture is both a part of who we are and what we do together. We value and embrace the diversity of thought, backgrounds, and experiences of all our colleagues. Through our 15 Employee Networks, participants can broaden their associations with other colleagues while expanding their knowledge of the business. American Express is a place where being yourself matters.

    Why Work at American Express

    There’s a difference between having a job and making a difference.

    American Express has been making a difference in people’s lives for over 160 years, backing them in moments big and small, granting access, tools, and resources to take on their biggest challenges and reap the greatest rewards.

    We’ve also made a difference in the lives of our people, providing a culture of learning and collaboration, and helping them with what they need to succeed and thrive. We have their backs as they grow their skills, conquer new challenges, or even take time to spend with their family or community. And when they’re ready to take on a new career path, we’re right there with them, giving them guidance and support.

    Because we believe that the best way to back our customers is to back our people.

    The powerful backing of American Express. Don’t do business without it. Don’t live life without it.

    Learn more about our Credit & Fraud Risk group at American Express by visiting https://careers.americanexpress.com/students/

    With a job at American Express, almost anything is possible. Apply now!

    UNITED STATES ONLY:

    American Express is an equal opportunity employer and makes employment decisions without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran status, disability status, age, or any other status protected by law.

    We back our colleagues with the support they need to thrive, professionally and personally. That's why we have Amex Flex, our enterprise working model that provides greater flexibility to colleagues while ensuring we preserve the important aspects of our unique in-person culture. Depending on role and business needs, colleagues will either work onsite, in a hybrid model (combination of in-office and virtual days) or fully virtually.

    US Job Seekers/Employees - Click here to view the “EEO is the Law” poster and supplement and the Pay Transparency Policy Statement.

    If the links do not work, please copy and paste the following URLs in a new browser window: https://www.dol.gov/agencies/ofccp/posters to access the three posters.

  • Industry
    Financial Services
  • About Us

    American Express is a globally integrated payments company, providing customers with access to products, insights and world-class experiences that enrich lives and build business success.