By Caleb Wendling
This summer I worked as a Risk Intern for Santander Bank, N.A. in the Risk Model Development department under the Governance wing. After the Great Recession in 2008, banks were placed under greater scrutiny and required to clear new regulations such as capital assessments. The Risk Model Development team at Santander assists with these assessments by building quantitative models that demonstrate the bank’s financial health in a variety of simulations. Behind the mathematical formulas and code, the Governance wing that I worked with ensures that document protocols are followed in accordance with regulatory guidelines and that material is properly presented to regulators.
My work this summer entailed categorizing and storing various model documents to meet regulatory standards.This work entailed liasoning across the Risk Model Development department among various team leads to gather reports. Documentation was stored in Sharepoint and often needed some creative troubleshooting to match the software’s capabilities with our storage needs. I also assisted in crafting a quarterly PowerPoint presentation for Federal regulators and an internal report for Santander.
During my work, I was able to build upon the material I learned through Fordham’s IPED program. Dr. Burke’s class in banking assisted greatly in getting me up to speed with various capital assessments such as CCAR. Other courses like Dr. Simon’s econometrics class, provided me a base to understand the general principles behind the Risk Model Development’s quantitative models. Throughout my internship, I was constantly impressed by the intricate relationship between banks and regulators that helps sustain the health of our current financial system.