Capital Markets Co-Op, June through December 2023

  • Federal Home Loan Bank
  • 909 Locust St. Des Moines, Iowa
  • Oct 31, 2022
Full time Technology

Job Description

At FHLB Des Moines, we work each day to develop an inclusive culture that supports and leverages the complexity of a diverse workforce. This enables us to effectively serve the needs of our members and help them succeed.

The Federal Home Loan Bank of Des Moines has a simple but important vision: Strong Bank. Strong Communities. And we know we’re only as strong as those who impact our success the most: our people!

In our Capital Markets Co-Op, you’ll play a meaningful role supporting the Portfolio Strategy Department in conducting analysis and reporting of profitability, risk and asset/liability management of the Bank’s financial position utilizing complex financial models.


  • Perform daily analysis and monitoring of the Bank’s mortgage pricing, mortgage pipeline, and duration position.
  • Provide quantitative support to departmental tasks such as liquidity analysis and reporting, maturity gap management, income forecasting or ad-hoc requests.
  • Assist with analyzing pricing, funding and hedging strategies for the mortgage portfolio.
  • Assist with developing and improving committee reports for ALCO and other committees as necessary.
  • Assist with testing new systems and functionality as needed.
  • Comply with internal controls and regulations.  
  • Conduct ad-hoc testing and analysis using Principia, QRM and Polypaths.
  • Maintain documentation supporting models and reporting processes including procedures and control checks for internal and external data sets.
  • Other duties and projects as assigned.


  • Bachelor’s Degree in Finance, Economics, Mathematics, Statistics or other quantitative/computing fields and/or equivalent work experience.
  • Coursework should include exposure to complex fixed income financial instruments and derivatives.
  • Programming experience preferred.
  • Strong analytical and computer skills in Access, SQL, Excel and Word. 
  • Strong verbal and written communication skills.

Core bank hours are 8:00 a.m.- 5:00 p.m. Current students and candidates who are able to work full-time hours are preferred. This paid Co-Op is expected to run six months.

Compensation Range:

Hourly: $20.00 - $25.00

This salary range represents the Bank’s good faith and reasonable estimate of possible compensation at the time of hire. Offer to be determined by selected applicant’s education, experience, knowledge, skills & abilities, as well as internal equity and alignment with market data. This role is also eligible to participate in the Bank’s annual incentive plan.
As part of our competitive Total Rewards package, the Bank offers 11 paid holidays, 5 weeks of PTO and a work culture that values work/life balance.  Most roles are eligible for our hybrid work schedule of 3 days per week in office, 2 days per week work-from-home.  We match 100% of the first 6% you contribute to your 401(k), and provide an additional 4% non-discretionary contribution to your 401(k) at the end of year.  More information on our Total Rewards program can be found here.

At FHLB Des Moines, we celebrate diversity, work to create an inclusive culture and champion equity in all of our policies and practices. This enables us to effectively serve the needs of our members and help them succeed.  FHLB Des Moines is proud to be an Equal Opportunity Employer.  We prohibit discrimination on the basis of race, color, religion, sex (including pregnancy, sexual orientation or gender identity), national origin, age, disability, veteran status, genetic information (including family medical history), status as a parent or any other characteristic protected by federal, state or local law.