Corporate Governance Intern at State of Wisconsin Investment Board

Making a Difference

The State of Wisconsin Investment Board (SWIB), founded in 1951, is a premier global investment organization responsible for managing the more than $178 billion of assets of the fully funded Wisconsin Retirement System (WRS), the State Investment Fund and other state funds. Through SWIB’s effective and innovative investment management, WRS remains one of the only fully funded US public pensions. The WRS consistently ranks among the 10 largest public pension funds in the U.S. SWIB is recognized by the investment industry for our teamwork and innovation. SWIB pursues sophisticated global investment strategies across the asset and risk allocation spectrum. Providers across the investment ecosystem seek to partner with SWIB.

Serving more than 703,000 beneficiaries of the WRS, SWIB is a mission-driven organization focused on providing a strong financial future to those who committed their careers to public service. For public employees and the 1,607 Wisconsin employers who contribute on their behalf, we are a trusted partner. Our team innovates continuously to meet the challenges of an evolving investment landscape while growing and protecting the assets of the WRS.

SWIB provides a strong, steady economic pillar for the state of Wisconsin by growing the trust funds under its management, managing risk, and optimizing costs of the long term. We are a mission-driven organization and the participants we serve are our mission. By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating required returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.

Home To Top Talent

Our high-performing staff is key to what makes us a premier investment manager. SWIB is committed to investing in talented professionals to implement our robust, sophisticated investment strategies and to keep the organization at the forefront of the investment industry. We encourage innovation and offer professional development opportunities to help staff sharpen and expand their skills. Approximately 61 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charterholders.

Job Description:

About the Team

The Corporate Governance Division monitors and analyzes global governance trends, practices, and regulatory developments affecting SWIB’s publicly traded investments and the broader capital markets. The division: 1) develops and implements proxy voting guidelines in consultation with SWIB’s investment staff; 2) votes SWIB’s proxies in accordance with established guidelines; 3) coordinates and participates in engagement with publicly traded companies; and 4) conducts research and analysis on regulatory developments, corporate governance structures, and a broad range of stewardship topics.

The division’s research and analysis cover areas including executive compensation and incentive alignment, corporate initiatives and risks, board compensation, structure and independence, shareholder rights and evolving governance and stewardship practices.

A primary area of focus will be executive compensation at publicly traded companies. The intern will assist in evaluating compensation practices and trends, collecting and analyzing compensation-related data, and researching regulatory and market developments that may affect SWIB’s proxy voting guidelines and approach. The intern may also support other governance research and one-time projects based on the team’s priorities. This position requires strong analytical skills and an ability to collect, organize, interpret, and clearly communicate quantitative and qualitative information.

Essential activities:

Collect, organize, and analyze executive compensation, proxy voting, director, and other governance data from proxy filings and other sources.
Research executive compensation practices and trends, including incentive structures, performance metrics, pay outcomes, and alignment with company performance.
Benchmark SWIB’s proxy voting guidelines and governance approaches against peer institutional investors and evolving market practices.
Research SEC rules, legislation, and other regulatory or market developments that may affect proxy voting, executive compensation, and corporate governance practices.
Analyze governance and compensation data to identify trends and support the team’s evaluation of proxy voting guidelines and stewardship approaches.
Summarize relevant company disclosures, academic and industry research, and other governance information.
Develop summary statistics, tables, charts, and other materials to communicate research and analytical findings.
Support additional corporate governance, proxy voting, engagement, data collection, and research projects as assigned.

The Ideal Candidate:

Ability to work in Madison, WI, for approximately 10 weeks beginning in late May/early June 2027.

Currently pursuing a bachelor’s degree in economics, accounting, public policy, political science, business, or a related field.

Strong research and analytical skills, with the ability to investigate, understand, and summarize new or complex topics.

Excellent attention to detail, strong organizational skills, and ability to work independently.

Strong written and verbal communication skills, including the ability to clearly and concisely communicate research findings.

Proficiency with Microsoft Excel, including formulas, pivot tables, and organizing and analyzing data sets.

Familiarity with generative AI tools, including ChatGPT, and their responsible use in research, data collection, and analysis.

Experience with Python or other tools and techniques for extracting, organizing, or analyzing large data sets from regulatory filings, websites, PDFs, or other sources is a plus.