About the role#
The Quantitative Risk Management (QRM) team develops, validates, and maintains the risk models used for margin, clearing fund, and stress testing at The Options Clearing Corporation. As an intern, you will work alongside quantitative analysts to support model development and monitoring efforts. You will gain exposure to how risk models are evaluated and maintained within a central counterparty clearing environment.
What you'll do#
- Assist in model specification development and impact analysis.
- Perform PNL decomposition and backtesting exceedance attribution analysis.
- Contribute to model performance monitoring enhancements.
- Support model annual validation, parameter reviews, and assumption reviews.
What you'll need#
- Status as a rising senior or second-year graduate student, graduating in December 2027 or May/August 2028.
- Pursuing a degree in Mathematics, Statistics, Finance, or Economics.
- Knowledge of financial mathematics, including derivatives pricing models, stochastic calculus, statistics, probability theory, and advanced linear algebra.
- Familiarity with econometrics, data analysis, machine learning techniques, and risk management models.
- Understanding of financial markets and derivatives.
- Programming skills in Python.
- Problem-solving abilities and experience with PowerPoint, Word, and Excel.
- CFA or FRM certifications are preferred.
Location & details#
- This is a full-time, paid internship based in Chicago, Illinois.
- The term is 12 weeks during Summer 2027.
- This position operates under a hybrid work model, requiring at least 3 days per week in the office, with Tuesday and Wednesday as anchor days.
- This position is not eligible for visa sponsorship.
About The Options Clearing Corporation (OCC)
The Options Clearing Corporation is an equity derivatives clearing organization. It provides clearing and settlement services for options, futures, and securities lending transactions. Based in Chicago, the firm operates as a Systemically Important Financial Market Utility. It serves over 100 clearing members and supports 21 exchanges and trading platforms.
How to get in at The Options Clearing Corporation (OCC)
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