Summer Intern - Enterprise Quality Governance & Transformation

The Options Clearing Corporation (OCC); Illinois; Hybrid; USD 28,000 - 40,000; Full time

Job summary

The Options Clearing Corporation (OCC) in Chicago offers a 12-week Summer Internship Program open to undergraduate and graduate students. As an intern you will contribute to the ETSQA team within Enterprise Quality Management, applying testing concepts and learning the OCC business context.

The role involves analyzing requirements, creating and executing test cases, automating regression tests, and reporting defects.

Qualifications

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
• Interest in software testing and automation.
• Basic understanding of programming concepts and QA basics.

Responsibilities

• Analyze the business requirements, create detailed test cases for validating business functions.
• Identify test cases for automation and create manual regression test suite.
• Execute test cases in test management tool and report defects.
• Automate manual regression test cases using the agreed upon automation framework.
• Writes clear and precise defect reports as required for identified software defects based on testing results.
• Attend daily scrum standup and report testing issues. Provide key inputs during retrospective meetings.

Skills

Programming languages

AI tools familiarity

Education

Undergraduate or graduate student

Tools

Java

Python

Claude Chat

Claude Code

Job description

Location:

Chicago

Internship type:

Seasonal intern (12 weeks, summer 2027)

Hybrid Work Program

OCC operates under a Hybrid Work Program which, absent an approved exception, requires employees to work from an OCC office at least 3 days per week. To maximize in-person collaboration, Tuesday and Wednesday are considered anchor days, and all employees are expected to work in the office both days. Employees meeting performance expectations are generally permitted to select 2 other days per week to work remotely if desired. When working remotely, employees are generally expected to work from the state in which they reside, absent an exception approved by Human Resources. Additionally, OCC generally does not permit employees to work while traveling internationally.

About OCC:

A World Class Clearing Organization

The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 21 exchanges and trading platforms.

OCC also provides free and engaging educational resources about the benefits and risks of options through its Options Industry Council (OIC).

OCC is building a culture that empowers continued learning, authentic innovation, and constant creativity.

About the Intern Program:

OCC is looking for interns who are eager to learn, humble enough to ask questions, and ready to think critically about complex problems. The OCC Internship Program equips students with the real-world skills needed to transition successfully into a career in financial services. As an intern, you will contribute to meaningful projects, applying your skills and knowledge to real challenges facing the business. Your time with us is a real opportunity to make a genuine impact on the future of OCC!

OCC's Summer Internship Program is a 12-week opportunity running either May through August or June through September, and is open to undergraduate and graduate students who are actively enrolled at a college or university. Interns work up to 40 hours per week in a hybrid work environment, and overtime is not permitted.

About The Team & Role:

The ETSQA team is a part of Enterprise Quality Management that works on ensuring the quality of Enterprise Technology Solutions applications. We are also involved in ensuring compliance across Ovation Testing teams. The intern will be involved in creation of automation scripts to verify quality of the ETS applications along with compliance checks for Ovation Testing Process and Artifacts.

Job Summary & Responsibilities:

• Analyze the business requirements, create detailed test cases for validating business functions.
• Identify test cases for automation and create manual regression test suite.
• Execute test cases in test management tool and report defects.
• Automate manual regression test cases using the agreed upon automation framework.
• Writes clear and precise defect reports as required for identified software defects based on testing results.
• Attend daily scrum standup and report testing issues. Provide key inputs during retrospective meetings.

Candidate Qualifications:

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.

Desired Majors:

• Computer Science or Equivalent

Technical Skills/Experience Desired:

• Any programming language (Java/Python, AI Tools (Claude Chat, Claude Code)

Additional Qualifications:

• Knowledge or aptitude for quality
• Good communication skills
• Team Player

About Us:

The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.

Compensation:

• The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education.
• In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer.
• We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers
• All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed.

Salary Range:

$25.00 - $25.00

Incentive Range:

This position is eligible for an annual discretionary incentive compensation award, for which the target range is listed above (see Incentive Range). The amount of such award, if any, will be based on various factors, including without limitation, both individual and company performance.

OCC is an Equal Opportunity Employer