2027 Summer Intern – Quantitative Analyst (Raleigh, NC)

First Citizens Bank is hiring a summer intern for its Finance Quantitative Office, which develops models covering credit loss, deposits, derivatives, and loans. The role focuses on derivatives models, including portfolio analysis, analytics benchmarking, model inventory recommendations, and validation of production results.

What you'll do:

• Analyze the bank’s portfolio of both swaps and vanilla options in rates and foreign exchange
• Benchmark various analytics (i.e., mark-to-market and Greeks) on the above portfolios
• Provide rationale for possible extensions to bank’s existing model inventory
• Use existing systems to cross-check and validate production results
• Be part of a dynamic team with interesting projects
• Accountabilities can and may include areas such as research, analytics, projects, strategy, process review and improvement, as well as technology enhancements and support
• Attend professional development sessions, informational sessions, networking and community service events
• Have a dedicated manager and program manager to help you navigate the bank and the internship program
• Be assigned a project, designed to improve a specific process or solve a problem that you will present at the close of the internship
• Prepare a wrap-up presentation to be shared with the division leader and other key stakeholders in the company to outline your accomplishments and experience during the internship

What they're looking for:

• Adaptability
• Communication (Written & Verbal)
• Critical Thinking Skills
• High School Diploma or GED and 1 year of experience
• Currently enrolled at an accredited collegiate institution (during the time of the summer program)
• Student pursuing a Master's (MS/MSc) or Doctoral (PhD) degree with a quantitative focus: mathematics, physics, statistics, engineering, or operations research
• Quantitative skills specific to derivatives modeling: probability theory and stochastic processes, stochastic differential equations, partial differential equations, numerical analysis, and optimization theory
• Programming experience: Python (preferred), SQL (nice-to-have), QuantLib or Open-Source Risk Engine (bonus)
• 3.0 minimum GPA
• Strong desire to learn and grow
• Possess a positive attitude, naturally curious and enjoys collaborating with others
• Strong verbal and written communication skills

Benefits:

• Development opportunities and hands-on work experience
• Professional development sessions
• Informational sessions
• Networking and community service events
• A dedicated manager and program manager to help you navigate the bank and the internship program
• Hybrid work arrangement