Summer Intern, Model Risk Analytics & Reporting (Hybrid)

The Options Clearing Corporation; Chicago (IL); Hybrid; USD 10,000 - 14,000; Full time

Benefits offered by this job

Hybrid work

Tuition Reimbursement

Student Loan Repayment

Technology Stipend

PTO

401k Match

Health benefits

Job summary

The Options Clearing Corporation (OCC) offers a 12-week Summer Internship Program designed for undergraduate and graduate students actively enrolled at a college or university. The internship is hybrid, with interns contributing to meaningful projects in a collaborative environment within Model Risk Management.

Interns work up to 40 hours per week in a hybrid setting, May–August or June–September, and compensation is provided with a discretionary bonus potential.

Qualifications

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028
• Desired Majors Financial mathematics, Mathematics, Physics, Finance, Computer Science
• Technical Skills/Experience Desired Basic programing skills
• Able to read and write code using a programming language (R or Python)
• Basic Financial mathematics (derivatives pricing models, stochastic calculus, statistics and probability theory, advanced linear algebra)
• Data Analysis, Excel, and PowerPoint

Responsibilities

• Study risk management methods at OCC.
• Conduct ad-hoc analysis of current risk management themes using statistical, econometric and/or machine-learning methods
• Design and implement automated reporting of production vs benchmark discrepancies and root cause analysis results
• Review and adapt best practices of option implied volatility modeling, for example, analyze the changes in implied volatility of equity options after earnings announcement

Skills

Basic programming

Python/R

Data analysis

Excel/PowerPoint

Education

Rising senior or grad student

Tools

R

Python

Job description

The Options Clearing Corporation (OCC) offers a 12-week Summer Internship Program designed for undergraduate and graduate students actively enrolled at a college or university. The internship is hybrid, with interns contributing to meaningful projects in a collaborative environment within Model Risk Management.

Interns work up to 40 hours per week in a hybrid setting, May–August or June–September, and compensation is provided with a discretionary bonus potential.