2025 Mortgage Operations Intern (Finance)

Salem Five is a growing regional financial services organization with a rich history of over 160 years.  As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices.

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we're all about.

Summer Intern Assignment

The intern program at Salem Five Bank is a paid summer internship. Internships are open to college students completing their sophomore or junior years. This is a five day per week assignment, (M-F) 8:30 a.m. to 5:00 p.m.  (2025 program dates are Tuesday, May 27, 2025, through Friday, August 8, 2025.)

This internship offers a comprehensive learning experience, designed to prepare participants for a deeper understanding of the mortgage industry and professional development. During the internship, the intern will have the unique opportunity to work with members of both the Mortgage Operations and Sales teams. This experience is designed to provide a comprehensive understanding of each department's roles, responsibilities and day-to-day business routines. The intern will gain insight into key processes and the broader scope of mortgage banking operations.

In addition to gaining a foundational understanding of mortgage workflows, the intern will interact with various mortgage departments, assisting them in achieving their objectives and learning how these functions interconnect to support the organization's success. The intern will also develop a basic understanding of regulatory compliance requirements and the controls used to ensure adherence to these standards, which are essential in the highly regulated mortgage industry.

Throughout the internship, the intern will actively participate in Salem Five meetings and events, gaining exposure to professional networking and organizational culture. They will also contribute to specific ongoing projects, applying their skills and knowledge in a meaningful way, and gaining practical, hands-on experience in a dynamic work environment.

Day 1

The intern will meet with a representative from Human Resources for orientation to Salem Five.  The intern will then meet with Dawn C Dawson, SVP Mortgage Operations and Logan McClory, Mortgage Administration Manager, who will provide an overview of the department and provide the intern with their Week 1 schedule.  The intern will report to Logan McClory throughout the internship program.  A lunch will be scheduled and introductions to other team members will be made over the course of the first week to learn about each member's role and responsibilities within the department.

Duration of Program

The intern will be performing the responsibilities of the Mortgage Administrator role. The role and responsibilities of the Mortgage Administrator is to ensure accuracy, compliance, and efficiency of loan files from initial disclosure to submission to underwriting. The Mortgage Administrators work directly with the sales team and vendors to set the stage for success allowing the underwriting team to complete accurate quality underwriting and the Loan Analysts to focus on customer service.

Daily Work:  The intern will perform a variety of tasks and functions including those associated with the Disclosure Desk, Appraisal Desk and Loan Set-up, as well as other administrative functions including maintenance, invoicing and vendor management, over the duration of the program. 

Projects/Assignments: The intern will actively contribute to a variety of projects and gain exposure to initiatives within Mortgage Operations and Sales that focus on improving efficiency through automation and innovation. These initiatives will provide hands-on experience in addressing real-world challenges and streamlining processes. Specific tasks the intern may undertake include, but are not limited to:

• Vendor Management Review and Workflow:
  Analyzing current vendor management practices, identifying opportunities for improvement, and assisting in optimizing workflows for enhanced efficiency and compliance.
• Operating Procedures Enhancement:
  Reviewing, updating, and enhancing operational procedures to align with industry best practices and regulatory requirements.
• Creation of Training Guides:
  Developing clear, user-friendly training materials to support staff in adapting to updated processes, procedures, and technologies.

This opportunity will equip the intern with valuable experience in project management, cross-departmental collaboration, and process optimization. 

 

Internship Professional and Development Opportunities 

During the internship, the intern will have the opportunity to:

• Develop a Basic Understanding of the Mortgage Process:
  Gain foundational knowledge of how the mortgage process works from application to closing, including the roles of various teams involved.
• Interact with Members Across the Organization:
  Engage with professionals from different departments, gaining insights into their responsibilities and understanding the mortgage business from a practitioner's perspective.
• Build Business Relationships and Networking Opportunities:
  Develop meaningful connections within the organization that could enhance career development and professional growth.
• Learn Processes and Procedures within Mortgage Operations:
  Explore the detailed workflows, best practices, and compliance requirements that support efficient mortgage operations.
• Familiarize with Systems and Technologies:
  Understand and navigate the software, platforms, and tools used throughout the mortgage process, enhancing technical proficiency.

 

Skills and Mindset Desired for the Position

To be considered and to excel in this internship, candidates should embody the following skills and mindset:

• Interest in Finance and/or Real Estate: A genuine enthusiasm for the fields of finance and real estate, with a curiosity to learn about the intricacies of mortgage banking.
• Attention to Detail: Precision and a methodical approach to managing multiple moving components effectively.
• Technological Proficiency: A strong aptitude for technology with a particular interest in exploring and leveraging emerging technologies.
• Professional Demeanor and Passion for Learning: A polished, professional approach paired with a genuine eagerness to learn and grow.
• High Energy and Adaptability: A positive, can-do attitude with the ability to multitask and effectively handle a variety of initiatives simultaneously.
• Critical Thinking Skills: Exceptional analytical thinking abilities, with a focus on problem-solving and attention to detail.
• Strong Analytical Proficiency: Adept at evaluating data and processes to uncover insights and drive efficiency improvements.
• Self-Motivated and Independent: A resourceful mindset with the ability to take initiative, work independently, and effectively manage assignments with minimal supervision.

This internship seeks individuals who are proactive, curious, and ready to make meaningful contributions while honing their skills in the fast-paced world of mortgage operations and sales.

 

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.

Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c) Summer Interns