Summer Intern - Quantitative Risk Management

to be considered for this position, applications and resumes are accepted only through our careers site by directly applying to the posted job. We do not accept unsolicited resumes or sales solicitations from staffing agencies. Any occ employee wishing to submit a referral must do so through their workday account. Any resume submitted outside of an active job posting will not be considered for employment.

• interns and seasonal interns are eligible only for paid sick leave accrued based on hours worked. No other benefit including technology stipend apply to interns or seasonal interns*****

location: chicago

internship type: seasonal intern (12 weeks, summer 2027)

occ operates under a hybrid work program which, absent an approved exception, requires employees to work from an occ office at least 3 days per week. To maximize in–person collaboration, tuesday and wednesday are considered anchor days, and all employees are expected to work in the office both days. Employees meeting performance expectations are generally permitted to select 2 other days per week to work remotely if desired.

When working remotely, employees are generally expected to work from the state in which they reside, absent an exception approved by human resources. Additionally, occ generally does not permit employees to work while traveling internationally.

a world class clearing organization

the options clearing corporation (occ) is the world's largest equity derivatives clearing organization. Founded in 1973, occ is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a systemically important financial market utility (sifmu), occ operates under the jurisdiction of the u.s. Securities and exchange commission (sec), the u.s. Commodity futures trading commission (cftc), and the board of governors of the federal reserve system.

Occ has more than 100 clearing members and provides central counter party (ccp) clearing and settlement services to 21 exchanges and trading platforms.

occ also provides free and engaging educational resources about the benefits and risks of options through its options industry council (oic).

occ is building a culture that empowers continued learning, authentic innovation, and constant creativity.

occ is looking for interns who are eager to learn, humble enough to ask questions, and ready to think critically about complex problems. The occ internship program equips students with the real-world skills needed to transition successfully into a career in financial services. As an intern, you will contribute to meaningful projects, applying your skills and knowledge to real challenges facing the business.

Your time with us is a real opportunity to make a genuine impact on the future of occ!

occ's summer internship program is a 12-week opportunity running either may through august or june through september, and is open to undergraduate and graduate students who are actively enrolled at a college or university. Interns work up to 40 hours per week in a hybrid work environment, and overtime is not permitted.

qrm's core function is the development, validation, and ongoing maintenance of risk models used for margin, clearing fund, and stress testing at occ — the world's largest equity derivatives clearing organization. The team's work spans model specification, performance monitoring, and analysis of model behavior against realized market outcomes. The intern will contribute directly to this function, working alongside quantitative analysts to support ongoing model development and monitoring efforts — gaining exposure to how risk models are evaluated, challenged, and maintained in a live central counter party clearing environment.

• 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 other bau or / and r&d research projects such as supporting model annual validation, model performance monitoring, and parameter and assumption review.

rising senior or second-year graduate student, graduating december 2027 or may/august 2028.

• financial mathematics, financial engineering, statistics, applied mathematics, finance, economics

• financial…