Quantitative Risk Management Summer Intern
About The Position
OCC is the largest equity derivatives clearing organization in the world. We provide central counterparty clearing and settlement services for equity options, futures, options on futures, and securities lending transactions. We serve approximately 115 clearing members and 15 exchanges including CBOE, Nasdaq, and NYSE. OCC is building a culture that empowers continued learning, authentic innovation, and constant creativity. OCC is looking for interns who are hungry for the chance to learn more, humble enough to admit they don’t know all the answers, and smart enough to recognize the opportunity. The OCC Internship Program provides students with the real-world skills to successfully transition into a career in the financial services industry. As an intern, you will help lead projects that help shape the future of OCC. This person will apply their skill set and knowledge toward tackling designated projects. This is an exciting opportunity to have a true impact on the company by designing and implementing solutions for real challenges facing the business.
Requirements
- Desired major(s): Financial Mathematics, Financial Engineering, Statistics, Applied Mathematics, Finance, Economics
- Desired year in school (graduate school vs. undergrad, rising junior, senior, etc.): PhD or Master students in graduate school
- Technical experience desired: Financial mathematics (derivatives pricing models, stochastic calculus, statistics and probability theory, advanced linear algebra).
- Econometrics, data analysis and machine learning techniques.
- Risk management Models.
- Financial products knowledge: good understanding of markets and financial derivatives.
- Basic programing skills: able to read and/or write code using a programming language (e.g., Python) in a collaborative software development setting.
- Problem-solving skills: be able to identify a problem's possible source, conduct study and provide reasoning in estimating severity and impact.
- Experience in office technology such as PowerPoint, Word, and Excel.
Nice To Haves
- CFA, FRM are not required but preferred
Responsibilities
- Multi-factor Model (MFM) development and impact analysis: to enhance the STANS margin framework, QRM has proposed the MFM. The intern will assist in the model specification development and impact analysis.
- Price Editing and Implied Volatility Surface Parameterization.
- Clearing Fund and Stress Test (CFST) finding remediation: the intern will support multiple items in CFST finding remediation.
- Other BAU and R&D projects: the intern will get involved in BAU or / and R&D research projects such as supporting model annual validation, model performance monitoring, and parameter and assumption review.
Benefits
- A hybrid work environment, up to 2 days per week of remote work
- Tuition Reimbursement to support your continued education
- Student Loan Repayment Assistance
- Technology Stipend allowing you to use the device of your choice to connect to our network while working remotely
- Generous PTO and Parental leave
- Competitive health benefits including medical, dental and vision
- 401k Employer Match
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What This Job Offers
Career Level
Intern
