Quantitative Risk Management Intern

## About the Team & Role QRM builds and maintains the quantitative risk models that OCC uses for margin, clearing fund sizing, and stress testing, using financial mathematics and statistical modeling techniques. The intern will contribute to the development, testing, monitoring, and improvement of these quantitative models, under the guidance of QRM team members. ## Job Summary & Responsibilities The intern may work on one or more of the following project areas, depending on team needs and intern interest: - Testing the assumptions, parameters, and modeling choices of the stress testing model components that determine Clearing Fund sizing - Proposing sensitivity metrics for testing these assumptions and parameters - Exploring alternative or more academically advanced methodologies that improve the performance of various model components, such as those governing equity price and volatility behavior - Streamlining the team's research Python code library to support model development and testing ## Candidate Qualifications Rising senior or second-year graduate student, graduating December 2027 or May/August 2028. ## Desired Majors - Master's or PHD in Financial Mathematics, Financial Engineering, Statistics, Applied Mathematics, Finance, Economics ## Technical Skills/Experience Desired - Strong foundation in financial mathematics: derivatives pricing models, stochastic calculus, probability theory, and statistics - Working knowledge of linear algebra and numerical methods used in model implementation - Familiarity with econometrics and quantitative risk management concepts (VaR, margin methodologies, stress testing frameworks) - Exposure to machine learning or advanced data analysis techniques a plus - Programming proficiency in Python (or similar language) for data analysis and model development in a collaborative codebase - Solid understanding of financial markets and derivatives products (equity options, futures, options on futures) - Proficiency with Excel, PowerPoint, and Word for analysis and presentation of findings. ## Additional Qualifications - Strong analytical and problem-solving skills - Effective written and verbal communication skills, with the ability to translate technical model findings for both quantitative and non-quantitative stakeholders - Comfort working in a collaborative, cross-functional environment with quants, business users, data/technology staff, and model validation teams - CFA and/or FRM coursework or progress toward certification preferred but not required - Demonstrated initiative and curiosity.