Summer Intern - Quantitative Risk Management
Role Overview
The Model Performance Monitoring team monitors, tests, and governs the firm's risk models for sound performance, documentation, and regulatory compliance.
The team handles governance reporting, model monitoring framework improvements, platform modernization, AI and process automation, and production support.
Key Skills for This Role
Full Job Posting
Internship and Work Program
- This is a seasonal internship lasting 12 weeks during summer 2027.
- The internship is open to undergraduate and graduate students actively enrolled at a college or university.
- Interns work up to 40 hours per week, and overtime is not permitted.
- The hybrid work program generally requires at least three days per week in an OCC office, with Tuesday and Wednesday as anchor days.
- Eligible employees may generally work remotely two additional days per week from their state of residence.
About OCC
The Options Clearing Corporation is the world's largest equity derivatives clearing organization.
OCC provides clearing and settlement services for options, futures, and securities lending transactions.
OCC operates under the jurisdiction of the SEC, CFTC, and Federal Reserve Board as a systemically important financial market utility.
Intern Program
The internship program provides real-world financial services experience through meaningful projects and complex business challenges.
Interns are expected to learn actively, think critically, and contribute to team projects.
Team and Role
The Model Performance Monitoring team monitors, tests, and governs the firm's risk models for sound performance, documentation, and regulatory compliance.
The team handles governance reporting, model monitoring framework improvements, platform modernization, AI and process automation, and production support.
Planned Responsibilities
- Support model performance and portfolio backtesting using historical data under supervision.
- Contribute to Python and Pandas scripting for data processing and monitoring workflow automation.
- Assist with exploratory data analysis and visualization of model performance metrics using Tableau or Dash.
- Review and help draft documentation for model monitoring metrics and testing procedures.
- Participate in code reviews and discussions about model monitoring best practices.
Job Responsibilities
- Perform model performance testing, including portfolio backtesting using historical data.
- Implement model monitoring metrics, including requirement coding and testing quality.
- Write and review documentation for model monitoring metrics, prototypes, and implementation.
- Support new product launches by enhancing monitoring capabilities.
- Develop Python scripts with Pandas and object-oriented programming to automate data processing.
- Assist analysts in solving analytics questions and challenges.
Candidate Qualifications
- Be a rising senior or second-year graduate student graduating in December 2027 or May or August 2028.
- Be actively enrolled at a college or university during the internship period.
- A master's degree or equivalent in a quantitative field such as data analytics, computer science, mathematics, physics, finance, or financial engineering is desired.
Required Technical Skills
- Strong programming skills and the ability to read or write Python code in a collaborative software development setting.
- Experience with a source code repository system, preferably Git.
- Ability to write and optimize complex analytical SELECT SQL queries.
- Comfort supporting business analysts on high-priority projects.
- Strong problem-solving skills to identify a problem's source, severity, impact, solutions, and resource needs.
- Experience with PowerPoint, Confluence, Word, and Excel.
Preferred Qualifications
- Exposure to data orchestration tools such as Airflow is preferred.
- Experience with Tableau, Dash, or Alteryx is preferred.
- Understanding of applied statistics and hands-on application of statistical concepts is preferred.
- Additional preferred areas include financial mathematics, econometrics, data analysis, machine learning, numerical methods, optimization, and risk management methods.
- Knowledge of financial derivatives and markets across equities, interest rates, and commodities is preferred.
Compensation
- The listed salary range is exclusive of fringe benefits and potential bonuses.
- The salary range stated in the posting is $25.00-$25.00.
- The position may be eligible for a discretionary incentive compensation award that is not guaranteed.
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