2025 Summer Internship - Finance - The Clearing House

About The Clearing House: The Clearing House (TCH) is a banking association and payments company that is owned by several of the largest commercial banks in the United States. TCH owns and operates a core payments system infrastructure in the US and is currently working to modernize that infrastructure with a real-time payment system. TCH is the only private-sector ACH and wire operator in the US, clearing and settling nearly $2 trillion in US dollar payments each day, representing half of all commercial ACH and wire volume. TCH has provided critical services to the banking industry since 1853.

About TCH Finance:

The Finance Department’s main responsibility is to record and report the company's financial transactions and activities. Other responsibilities include:

• Financial reporting: Prepare financial statements, such as balance sheets, income statements, and cash flow statements.
• Accounts payable: Record goods and services purchased by the company and pay timely.
• Accounts receivable: Record assets related to revenue and customers' obligations.
• Payroll: Handle payroll activities with ADP.
• Taxes: Prepare tax returns and ensure that taxes are paid properly and on time.
• Financial audits: Ensure financial records are accurate throughout the year and assist auditors.

About the TCH Finance Summer Internship Program:

The TCH Finance Summer Internship Program is an 8-week experience for rising college seniors interested in the field of finance and accounting. Interns will be located in either New York City or Winston-Salem, North Carolina. Over the course of the 8-week program, interns will have the opportunity to learn about Accounting, Finance, and Procurement activities as well as supporting the activities of the Finance Department. While working within our Finance Department, each intern will be assigned a hands-on project, culminating in a presentation to Finance and the Operations Office senior leadership. Opportunities for the 2025 Summer Internship Program will have a focus on, but not limited to, the following capabilities:

• Assist in month-end closing and perform general accounting responsibilities.
• Assist in processing monthly billings, record and reconcile cash and credit card receipts.
• Assist in the reconciliation of accounts receivable and the preparation of aging reports.
• Assist in providing documentation to external and internal auditors.
• Assist in financial analysis including periodic internal reporting and scenario development
• Assist in procurement analysis related to spend by department, supplier, and category
• Adhere to company risk management/control framework

Skills, Experience and Qualifications Required:

• Currently enrolled undergraduate students pursuing a Bachelor’s Degree in Accounting or Finance.
• Strong technical and PC skills (MS Office applications, Power BI)
• Strong written and verbal communication skills.
  • Ability to communicate work product to colleagues with detail knowledge as well as consolidate for leadership team review.
• Ability to work both independently and in a collaborative environment.
• Highly organized, detail oriented and strong ability to multi-task.

Physical demands and work environment: Work is generally sedentary in nature but may require standing and walking. The working environment is generally favorable. Lighting and temperature are adequate, and there are no hazardous or unpleasant conditions caused by noise, dust, etc. Work is generally performed within an office environment, with standard office equipment available. Occasional travel may be required.

Employees will report to the office two to three days each week. Onsite work requirements may change at any time.

The anticipated hourly rate range for this position is $20-$24. Hourly rate will be determined by the role, experience, skill set and location.