Quantitative Risk Management Intern

## About the Team & Role 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 counterparty clearing environment. ## Job Summary & Responsibilities - 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. ## Candidate Qualifications Rising senior or second-year graduate student, graduating December 2027 or May/August 2028. ## Desired Majors - Financial Mathematics, Financial Engineering, Statistics, Applied Mathematics, Finance, Economics ## Technical Skills/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. ## Additional Qualifications - CFA, FRM are not required but preferred