Quantitative Risk Management Summer Intern

About OCC:

A World Class Clearing Organization

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.

About the Intern Program:

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. Here’s what we’re looking for:

Projects and Responsibilities:

Depending on the starting date of the internship and the progress of on-going and planned projects, the intern will be assigned to the following project(s):

• 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.

Candidate Qualifications:

• 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.

• Any additional qualifications: CFA, FRM are not required but preferred

What knowledge and skills will the intern gain from this internship?

• Gain knowledge and skills in development and maintenance of risk models for margin, clearing fund and stress testing. The intern will support on-going model development and maintenance projects by collaborating with other quantitative analysts, business users, data and technology staff, and model validation colleagues. 

Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.  

Step 2
You will receive an email notification to confirm that we've received your application.

Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location. 

For more information about OCC, please click here.

OCC is an Equal Opportunity Employer

About Us

The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.

Compensation

• The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education.
• In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer.
• We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers
• All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed.

Salary Range

Incentive Range

This position is eligible for an annual discretionary incentive compensation award, for which the target range is listed above (see Incentive Range). The amount of such award, if any, will be based on various factors, including without limitation, both individual and company performance.

Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.  

Step 2
You will receive an email notification to confirm that we've received your application.

Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location. 

For more information about OCC, please click here.

OCC is an Equal Opportunity Employer