SIMM Intern

Location: New York – Hybrid Role (minimum 3 days in-office)

Salary Range: $18/hour

ISDA’s Standard Initial Margin Model (SIMM) team is seeking a motivated intern to join its New York office. SIMM is a globally adopted regulatory model used by derivatives market participants to calculate initial margin for non‑cleared derivatives. This internship offers hands‑on exposure to quantitative analysis, market data, and regulatory infrastructure at the center of global derivatives markets, with close interaction across ISDA teams and industry stakeholders.

• Support quantitative analysis for the SIMM maintenance and calibration cycle
• Assist with data collection, validation, and aggregation from firms, vendors and public sources
• Contribute to model testing, back‑testing, and benchmarking exercises
• Help prepare technical notes, summaries, and materials for working groups and internal stakeholders
• Support research on market data, risk and model methodologies

• Undergraduate or postgraduate student (or recent graduate) in a quantitative discipline (e.g. mathematics, statistics, economics, finance, engineering, or computer science)
• Strong analytical and problem‑solving skills
• Interest in derivatives markets, risk management, or financial regulation
• Proficiency in Excel; experience with Python or similar tools is an advantage
• Strong communication skills and ability to work in a collaborative, global team

• Exposure to a globally used regulatory margin model
• Hands‑on experience with real‑world financial and risk data
• Insight into how industry standards are developed and governed
• Opportunity to contribute to high‑impact, market‑relevant work