Summer Intern - Quantitative Risk Management
Role Overview
Seasonal 12-week summer internship in Quantitative Risk Management based in Chicago.
The program is open to actively enrolled undergraduate and graduate students and runs May through August or June through September.
Interns work up to 40 hours per week and overtime is not permitted.
Key Skills for This Role
Full Job Posting
Internship Overview
Seasonal 12-week summer internship in Quantitative Risk Management based in Chicago.
The program is open to actively enrolled undergraduate and graduate students and runs May through August or June through September.
Interns work up to 40 hours per week and overtime is not permitted.
Workplace
- OCC operates a hybrid work program requiring employees to work from an OCC office at least three days per week absent an approved exception.
- Tuesday and Wednesday are required office anchor days, with two additional days generally available for remote work.
Role Responsibilities
- Assist with model specification development and impact analysis.
- Perform PNL decomposition and backtesting exceedance attribution analysis.
- Enhance model performance monitoring.
- Support annual validation, parameter and assumption reviews, and other BAU or research projects.
- Work with quantitative analysts on risk model development and monitoring.
Candidate Qualifications
- Candidates must be rising seniors or second-year graduate students graduating in December 2027 or May or August 2028.
- Candidates must be actively enrolled at a college or university.
Desired Background and Skills
- Desired majors include financial mathematics, financial engineering, statistics, applied mathematics, finance, and economics.
- Desired knowledge includes derivatives pricing, stochastic calculus, probability, statistics, advanced linear algebra, econometrics, data analysis, machine learning, and risk models.
- Understanding of financial markets and derivatives is desired.
- Basic programming ability in Python or another language and experience with office technology are desired.
- CFA or FRM certification is preferred but not required.
About OCC
OCC is a clearing organization providing clearing and settlement services for options, futures, and securities lending transactions.
The Quantitative Risk Management team develops, validates, and maintains models for margin, clearing fund, and stress testing.
Compensation
- The listed salary range is $25.00 to $25.00.
- The position may include discretionary incentive compensation, which is not guaranteed.
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