2027 Summer Intern – Quantitative Analyst (Raleigh, NC)

First Citizens Bank•Raleigh, NC

17h

About The Position

First Citizens Bank’s Finance Quantitative Office is the bank’s dedicated modeling organization, covering credit loss, deposit, derivatives, and loan models. This summer internship focuses on derivatives models, including enhancements to ongoing monitoring, valuation adjustments, and risk measurements. Interns apply classroom knowledge in a corporate environment and contribute to projects across the organization. The intern will analyze the bank’s swaps and vanilla options portfolios in interest rates and foreign exchange, benchmark analytics such as mark-to-market and Greeks, and provide rationale for potential extensions to the bank’s model inventory. The role also uses existing systems to cross-check and validate production results and includes participation in a dynamic team and its projects. The program includes professional development, informational and networking sessions, and community service events. Each intern is supported by a dedicated manager and program manager, assigned a project to improve a process or solve a problem, and expected to present the project and internship accomplishments to division leadership and other stakeholders. The internship runs from May 24, 2027, through July 30, 2027, and requires availability for 40 hours per week throughout the program.

Requirements

High school diploma or GED and at least 1 year of experience.
Currently enrolled at an accredited collegiate institution during the summer program.
Ability to work 40 hours per week for the duration of the program.
Adaptability.
Written and verbal communication skills.
Critical thinking skills.
Ability to multitask.
Ability to adapt and adjust priorities based on business needs.
Ability to take direction and absorb information quickly.

Nice To Haves

Pursuing a master’s or doctoral degree with a quantitative focus, such as mathematics, physics, statistics, engineering, or operations research.
Quantitative knowledge relevant to derivatives modeling, including probability theory and stochastic processes, stochastic differential equations, partial differential equations, numerical analysis, and optimization theory.
Programming experience in Python (preferred).
SQL experience (nice to have).
Experience with QuantLib or Open-Source Risk Engine (bonus).
Minimum 3.0 GPA.
Strong desire to learn and grow.
Positive attitude, natural curiosity, and enjoyment of collaboration.

Responsibilities

Analyze the bank’s portfolio of swaps and vanilla options in interest rates and foreign exchange.
Benchmark portfolio analytics, including mark-to-market and Greeks.
Provide rationale for possible extensions to the bank’s existing model inventory.
Use existing systems to cross-check and validate production results.
Contribute to research, analytics, projects, strategy, process review and improvement, and technology enhancements and support.
Attend professional development sessions, informational sessions, networking events, and community service events.
Complete an assigned project designed to improve a process or solve a problem, and present it at the close of the internship.
Prepare and deliver a wrap-up presentation to the division leader and other key stakeholders outlining internship accomplishments and experience.