Summer Intern - Internal Audit Business and Risk

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

Job summary

The Options Clearing Corporation (OCC) invites rising seniors or graduate students to join its 12-week Summer Internship Program in Chicago. The IA team offers exposure to audit engagements and validations, with responsibility for documenting walk-throughs and control testing under supervision.

Open to undergraduate and graduate students enrolled at a college or university, the program is a 40-hour workweek in a hybrid environment. Visa sponsorship is not available for this role.

Qualifications

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
• 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.
• There are no other technical skills required beyond general Microsoft Office proficiency.

Responsibilities

• 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.

Skills

Written and verbal communication

Education

Accounting, Finance, or related field

Tools

Microsoft Office

Job description

• THIS POSITION IS NOT ELIGIBLE FOR VISA SPONSORSHIP*****

• THIS POSITION IS NOT ELIGIBLE FOR VISA SPONSORSHIP*****

• 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

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 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 corporate functions (e.g., Finance, Compliance, etc.), Financial Risk Management, and Operations.

• 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

• Accounting, Finance, or related field

Technical Skills/Experience Desired

• There are no technical skills 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.

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