Summer Quant Risk Intern: Model Validation & Analysis

The Options Clearing Corporation; Chicago (IL); Hybrid; USD 30,000 - 39,000; Full time

Benefits offered by this job

Tuition Reimbursement

Student Loan Repayment Assistance

Technology Stipend

Generous PTO and Parental leave

401k Employer Match

Competitive health benefits including,

Hybrid work environment

Job summary

The Options Clearing Corporation (OCC) invites driven students to join the QRM internship program in Chicago for a 12-week summer session. You will assist with model specification, PNL decomposition, and backtesting attribution while collaborating with quantitative analysts to enhance risk model monitoring.

The role emphasizes hands-on learning, exposure to live central counterparty clearing environments, and a pathway into financial services careers.

Qualifications

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
• Majors: Financial Mathematics, Financial Engineering, Statistics, Applied Mathematics, Finance, Economics.
• Technical Skills: programming (e.g., Python) in a collaborative setting; problem-solving and data analysis.

Responsibilities

• Assist in model specification development and impact analysis.
• Work on PNL decomposition and backtesting exceedance attribution analysis.
• Work on model performance monitoring enhancements.
• Support BAU or R&D projects like model annual validation and parameter review.

Skills

Python

PowerPoint

Excel

Financial mathematics

Data analysis

Education

Finance/Math/Statistics or related field

Tools

Python

Job description

The Options Clearing Corporation (OCC) invites driven students to join the QRM internship program in Chicago for a 12-week summer session. You will assist with model specification, PNL decomposition, and backtesting attribution while collaborating with quantitative analysts to enhance risk model monitoring.

The role emphasizes hands-on learning, exposure to live central counterparty clearing environments, and a pathway into financial services careers.