Summer Quantitative Risk Intern - Hybrid (Chicago)

The Options Clearing Corporation; Chicago, Northern (IL, KY); Hybrid; USD 28,000 - 40,000; Part time

Benefits offered by this job

Hybrid Work Program

Paid sick leave

Job summary

The Options Clearing Corporation (OCC) in Chicago offers a 12‑week Summer Intern position in Quantitative Risk Management. Interns work in a hybrid program, with a focus on risk model development, validation, and monitoring under supervision of quantitative analysts.

The program runs May–August or June–September for undergraduate and graduate students, with up to 40 hours per week, and a paid sick leave provision for interns. OCC emphasizes learning and collaboration.

Qualifications

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.

Responsibilities

• Assist in the model specification development and impact analysis.
• Work on PNL decomposition and backtesting exceedance attribution analysis.
• Work on model performance monitoring enhancements.
• Support model validation, performance monitoring, and parameter and assumption review.

Skills

Financial mathematics

Derivatives pricing

Stochastic calculus

Statistics & probability

Econometrics

Data analysis

Machine learning

Python

PowerPoint

Word

Excel

Tools

PowerPoint

Word

Excel

Job description

The Options Clearing Corporation (OCC) in Chicago offers a 12‑week Summer Intern position in Quantitative Risk Management. Interns work in a hybrid program, with a focus on risk model development, validation, and monitoring under supervision of quantitative analysts.

The program runs May–August or June–September for undergraduate and graduate students, with up to 40 hours per week, and a paid sick leave provision for interns. OCC emphasizes learning and collaboration.