Summer Quantitative Risk Intern — Hybrid Chicago

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

Benefits offered by this job

Paid sick leave accrual

Job summary

The Options Clearing Corporation (OCC) seeks interns for its QRM team in Chicago for a 12-week summer program (May–Aug or Jun–Sept). This hybrid internship requires in-office presence most days, with limited remote days, and 40 hours per week in a collaborative setting.

Open to undergraduate and graduate students actively enrolled in college or university. The intern will contribute to developing and testing quantitative risk models under guidance, gaining real-world experience in financial

Qualifications

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
• Master's or PhD in Financial Mathematics, Financial Engineering, Statistics, Applied Mathematics, Finance, Economics.
• Strong foundation in financial mathematics: derivatives pricing models, stochastic calculus, probability theory, and statistics.
• Programming proficiency in Python (or similar language) for data analysis and model development.

Responsibilities

• Test the assumptions, parameters, and modeling choices of the stress testing model components that determine Clearing Fund sizing.
• Propose sensitivity metrics for testing these assumptions and parameters.
• Explore alternative or more academically advanced methodologies that improve model performance.
• Streamline the team's research Python code library to support model development and testing.

Skills

Financial mathematics

Stochastic calculus

Probability theory

Statistics

Machine learning

Data analysis

oral & written communication

Python

Education

Master's or PhD in Financial Mathematics/Financial Engineering/Statistics/Applied Mathematics/Finance/Economics

Tools

Python

Excel

Job description

The Options Clearing Corporation (OCC) seeks interns for its QRM team in Chicago for a 12-week summer program (May–Aug or Jun–Sept). This hybrid internship requires in-office presence most days, with limited remote days, and 40 hours per week in a collaborative setting.

Open to undergraduate and graduate students actively enrolled in college or university. The intern will contribute to developing and testing quantitative risk models under guidance, gaining real-world experience in financial