Summer Intern - Internal Audit

The Options Clearing Corporation; Chicago (IL); On-site; USD 28,000 - 40,000; Full time

Benefits offered by this job

Tuition Reimbursement

Student Loan Repayment

Technology Stipend

Generous PTO

Job summary

The Options Clearing Corporation (OCC) invites students to join its Internal Audit internship program for a 12-week summer session in Chicago. Interns will contribute to audit and validation engagements, work up to 40 hours per week in a hybrid setting, and gain hands-on experience in a financial services environment.

Under the IA team’s supervision, you will plan, perform fieldwork, document findings, and present outcomes.

Qualifications

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
• MIS, Accounting, Finance, or related field.
• Technical Skills: General Microsoft Office proficiency.
• Strong written and verbal communication, ability to prioritize tasks and drive them to completion.

Responsibilities

• Assist with audit and/or validation engagements under supervision.
• Support planning, fieldwork, and reporting phases of assigned engagements.
• Document process walkthroughs, control design, and operating effectiveness procedures.
• Collaborate with engagement leads and supervisors to complete assigned tasks.

Job description

Eligibility & Work Authorization

****THIS POSITION IS NOT ELIGIBLE FOR VISA SPONSORSHIP**** To be considered for this position, applications and resumes are accepted only through our careers site by directly applying to the posted job. We do not accept unsolicited resumes or sales solicitations from staffing agencies. Any OCC employee wishing to submit a referral must do so through their Workday account. Any resume submitted outside of an active job posting will not be considered for employment. *****INTERNS AND SEASONAL INTERNS ARE ELIGIBLE ONLY FOR PAID SICK LEAVE ACCRUED BASED ON HOURS WORKED. NO OTHER BENEFIT INCLUDING TECHNOLOGY STIPEND APPLY TO INTERNS OR SEASONAL INTERNS*****

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

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.

Team & Role

The Internal Audit (IA) team is an independent function within OCC that is responsible for evaluating and contributing to OCC’s governance, risk management, and control processes using a systematic, disciplined, and risk-based approach. The IA team conducts both audit engagements and validation work covering a variety of business functions throughout OCC each year. Interns in the IA department are assigned to audit engagements and validations and support the execution of planning and fieldwork testing. This includes reviewing and documenting support provided by the business, participating in internal and client meetings, and coordinating with supervisors on assigned engagements.

Job Summary & Responsibilities

The summer internship program will include assignments on audit and/or validation engagements that are ongoing at the time of the internship. This will involve audit planning, fieldwork, and reporting phases for the assigned engagement. Interns will be expected to work with the engagement Lead and supervisors to execute the assigned tasks, which may include planning deliverables and control testing. Areas of audit may include Cybersecurity and Information Technology. In executing the assigned audit work, the intern will be responsible for clearly and concisely documenting process walkthroughs, control design and operating effectiveness procedures, and any finding or enhancement that may result from procedures performed.

Candidate Qualifications

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
• Desired Majors MIS, Accounting, Finance, or related field
• Technical Skills/Experience Desired No technical experience is required outside of general Microsoft Office proficiency.
• Additional Qualifications Strong written and verbal communication, the ability to prioritize multiple tasks and drive them to completion, and a willingness to take on undefined tasks and propose solutions.

Equal Employment Opportunity

OCC is an Equal Opportunity Employer. OCC is an equal opportunity employer that is committed to diversity, equity, and inclusion. OCC provides equal employment opportunities to all employees and applicants for employment without regard to race, color, national origin, citizenship status, sex, sexual orientation, gender identity or expression, disability, age, marital status, religion, veteran status, or any other characteristics protected by applicable federal, state, or local laws. Numerous studies have shown that people from certain groups are less likely than others to apply to jobs if they believe they do not meet 100% of the requirements. We encourage everyone to review our open positions and apply if you think your experience may be a match, even if you do not meet all of the qualifications. Your perspective may be an element we need to continue building innovative solutions to support the markets and market participants we serve. If you need a disability related accommodation for any part of the application process, please email [e-mail].

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.

Benefits

A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness. Some of these components include:

• A hybrid work environment
• up to 2 days per week of remote work
• Tuition Reimbursement to support your continued education
• Student Loan Repayment Assistance
• Technology Stipend allowing you to use the device of your choice to connect to our network while working remotely
• Generous PTO and Parental leave
• 401k Employer Match
• Competitive health benefits including medical, dental and vision

Scam Warnings & Recruitment Safeguards

OCC will never ask for payment or request personal banking information at any stage of the recruitment or career process. All official recruitment communications will come from a verified OCC email address ending in @theocc.com or the specific e-mail address of [e-mail]. Be cautious of messages from personal or non-company email addresses. Do not engage with or respond to suspicious emails or messages. If you are unsure about the legitimacy of a communication, verify the sender's email address and contact us directly. Hover over the sender's email address and confirm it ends with @theocc.com or myworkday.com and be alert for misspellings or added words. If you receive a suspicious email, text or phone call using OCC's name, please forward it to [e-mail].

Interviews OCC does not utilize video chat rooms (that is, Google Hangouts) to conduct interviews. OCC will only use our approved Zoom video interview platform. Your vigilance helps protect you and supports the integrity of our hiring process.