2027 Summer Intern – Quantitative Analyst (Raleigh, NC)

First Citizens Bank • Raleigh, NC

14h

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, with work involving enhancements to ongoing monitoring, valuation adjustments, and risk measurements. The intern will analyze swaps and vanilla options in interest rates and foreign exchange, benchmark analytics, and validate production results using existing systems.

The internship includes a dedicated manager and program manager, professional development and networking opportunities, and an assigned project intended to improve a process or solve a problem. At the end of the program, the intern will present the project and prepare a wrap-up presentation for the division leader and other key stakeholders. The internship runs from May 24, 2027, through July 30, 2027, and requires 40 hours per week.

Requirements

• High school diploma or GED and one 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.

Nice To Haves

• Pursuing a master’s or doctoral degree with a quantitative focus, such as mathematics, physics, statistics, engineering, or operations research.
• Knowledge of probability theory and stochastic processes, stochastic differential equations, partial differential equations, numerical analysis, and optimization theory.
• Programming experience with Python; SQL experience is a nice-to-have, and QuantLib or Open-Source Risk Engine experience is a bonus.
• Minimum 3.0 GPA.
• Desire to learn and grow; positive attitude, curiosity, and enjoyment of collaboration.
• Ability to multitask, adapt priorities to business needs, take direction, and absorb information quickly.

Responsibilities

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

Benefits

• The company describes its benefits program as competitive, thoughtfully designed, and intended to meet associates’ needs; details are available at the company benefits website.

What This Job Offers

• Job Type: Full-time
• Career Level: Intern
• Education Level: High school or GED