A role within risk is not
just about numbers, it is
about striking the balance
between protecting and
optimising our business.”
Maggie, 2016 Intern
Do you want to…
- Use your mathematical modelling skills to shape Westpac Group’s portfolio, balancing risk and reward
- Apply analytical techniques to a wide array of problems ranging from fraud detection algorithms to early warning indicators for companies close to default
- Become a data “artisan”, combining and transforming terabytes of information to identify the signal from the noise
- Be encouraged to bring novel approaches and new insights for solving existing and new problems
- Have opportunities to develop programming skills in SAS, R, Python, VBA
- Get a chance to work with industry-leading teams such as the award-winning card fraud analytics team which is globally recognized for innovative fraud detection techniques
- Access a best-practice, continuous professional development program called GROW which in 2017 will deliver over 120 hours of training and workshops.
Managing the Risks:
Effective risk management sets the Westpac Group apart from our competitors and gives us the edge we need to be one of the world's great service companies. It is about striking the right balance between protecting and optimising our business. The Risk team plays a critical role identifying, modelling, monitoring and managing a range of risks across our diverse operating environment. We provide leading expert advice and analytics to help our business partners make informed decisions.
It’s an exciting time to be a Quantitative Risk Intern with diverse opportunities in credit risk, market risk, fraud and financial crime management.
Why join us?
Westpac Group’s Quantitative Risk Internship program is an excellent opportunity to take the analytical methods you have developed through your studies and apply them to challenging, tangible problems. You will shape strategy through your analytical insights. Your models will reveal novel insights. Challenge your assumptions and refine your insights and in time you may see your work shape the way risk is managed in the Westpac Group.
We support a strong and risk aware organisation through expert advice, constructive challenge and innovative solutions. We develop relationships, build trust and help solve problems. Numbers are only part of it.
If you have strong quantitative aptitude and problem solving abilities then a career in risk could be perfect for you. We consider students from (but not limited to) the following degrees; Mathematics and Statistics, Actuarial Studies, Computer Science, Physics, Engineering and Quantitative Finance.
How your summer could be spent:
Your Internship will be in a model development, model validation or analytics team where you will develop valuable experience and build your network. Interns may work on projects such as:
- Developing predictive models to monitor transactions for fraudulent events whilst ensuring we provide a smooth experience to our customers
- Refine models for credit risk estimates including probability of default models, survival models, loss given default and exposure at default
- Reviewing Financial Markets and Treasury spreadsheets for Value-At- Risk back-testing to make them more robust and add additional functionality
Your internship journey
You will develop technical/analytical skills, regulatory and industry knowledge, project management skills, stakeholder and relationship management and negotiation and influencing skills setting you up in a possible career in:
- Credit Risk
- Market Risk
- Fraud and Financial Crime Management
- Model Validation
You will have the opportunity to be considered for our Quantitative Risk graduate program in 2019.
Maggie, 2016 Intern
What attracted you to the Risk Internship Program?
The reason I chose the Risk Program is because our world is changing rapidly, and with that comes new risks every day. The skills I learned within Risk can be taken anywhere within the Group and are often highly sought after. In my opinion, Risk is a really unique area in that you find people of many different personalities and backgrounds. Whether your interest is in Financial Crime Management, building strong relationships with our Regulators or analytics and coding – Risk has roles that suit almost everyone.
What was the best business project you were able to work on during your Internship?
During my internship I created a Risk Induction training program for all employees new to Risk at Westpac. The project allowed me to meet with many senior stakeholders to gather information about the different types of risks we face, and how to mitigate them. To top it off, I was also given the opportunity to help present the first induction training to our 2016 Risk Graduates.
How did your internship set you up for success on your Graduate program?
The internship is a really good transition from university life into full time employment. During the 3 month internship I gained a good understanding of Risk, which made my first day as a graduate far less daunting. I also developed good networks within the bank, which helped me when I started in a completely new team after rejoining as a graduate.
What are your 3 pieces of advice for a student applying for an intern role?
- Apply for an area you are passionate about and do some research into it. You will find the interview process so much easier and the work so much more rewarding if you have an interest in the area.
- Be yourself. As cliché as it sounds, the interviewers want to see who you really are rather than someone you’re pretending to be.
- Take every step of the interview process as a learning experience.