Summer Intern - Model Risk Management

• 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*****

chicago

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.

the model risk management team analyzes model risk across pricing, margin, clearing fund, stress testing and liquidity models. The intern will collaborate with mrm staff to assess model risk and review associate remediation.

• study risk management methods at occ.
• conduct ad-hoc analysis of current risk management themes using statistical, econometric and/or machine-learning methods
• design and implement automated reporting of production vs benchmark discrepancies and root cause analysis results
• review and adapt best practices of option implied volatility modeling, for example, analyze the changes in implied volatility of equity options after earnings announcement

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

• financial mathematics, mathematics, physics, finance, computer science

• basic programing…