The Options Clearing Corporation (OCC) · 10 hours ago
Quantitative Risk Management Summer Intern
Greater Chicago Area
Internship
Onsite
Intern
$25/hr - $25/hrThe Options Clearing Corporation (OCC) is the largest equity derivatives clearing organization in the world, providing central counterparty clearing and settlement services. They are seeking a Quantitative Risk Management Summer Intern to assist in projects related to model development and impact analysis, contributing to the enhancement of their margin framework and other risk management initiatives.
FinanceFinancial ServicesProperty Management
No H1B
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
Qualification
Required
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)
Technical experience desired: Econometrics, data analysis and machine learning techniques. Risk management Models
Technical experience desired: Financial products knowledge: good understanding of markets and financial derivatives
Technical experience desired: Basic programming skills: able to read and/or write code using a programming language (e.g., Python) in a collaborative software development setting
Technical experience desired: Problem-solving skills: be able to identify a problem's possible source, conduct study and provide reasoning in estimating severity and impact
Technical experience desired: Experience in office technology such as PowerPoint, Word, and Excel
Preferred
Any additional qualifications: CFA, FRM are not required but preferred
Benefits
Paid sick leave accrued based on hours worked
Discretionary bonus
Company
The Options Clearing Corporation (OCC)
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization.
Founded in 1973
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
David Hoag
Chief Information Officer
Kristen Baldwin
Chief Information Officer
Recent News
2025-12-24
Company data provided by crunchbase