Summer Intern - Model Risk Management at OCC in Chicago - 125 S Franklin

Job description

• OCC is looking for interns who are eager to learn, humble enough to ask questions, and ready to think critically about complex problems. The OCC Internship Program equips students with the real-world skills needed to transition successfully into a career in financial services. As an intern, you will contribute to meaningful projects, applying your skills and knowledge to real challenges facing the business. Your time with us is a real opportunity to make a genuine impact on the future of OCC!
• OCC's Summer Internship Program is a 12-week opportunity running either May through August or June through September, and is open to undergraduate and graduate students who are actively enrolled at a college or university. Interns work up to 40 hours per week in a hybrid work environment, and overtime is not permitted.
• The Model Risk Management team analyzes model risk across pricing, margin, clearing fund, stress testing and liquidity models. The intern will collaborate with MRM staff to assess model risk and review associate remediation.

Responsibilities

• Study risk management methods at OCC.
• Conduct ad-hoc analysis of current risk management themes using statistical, econometric and/or machine-learning methods
• Design and implement automated reporting of production vs benchmark discrepancies and root cause analysis results
• Review and adapt best practices of option implied volatility modeling, for example, analyze the changes in implied volatility of equity options after earnings announcement

Requirements

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
• Desired Majors
• Financial mathematics, Mathematics, Physics, Finance, Computer Science
• Technical Skills/Experience Desired
• Basic programing skills. Able to read and write code using a programming language (R or Python)
• Basic Financial mathematics (derivatives pricing models, stochastic calculus, statistics and probability theory, advanced linear algebra)
• Data Analysis, Excel, and PowerPoint

Skills

Required

• Basic programming skills (R or Python)
• Data Analysis, Excel, and PowerPoint

Benefits

• 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.
• $25.00 - $25.00
• 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.