Quantitative Development Intern - Winter 2027

Milliman • Chicago, IL

3d • Hybrid

About The Position

The Quantitative Development group, within Milliman’s Financial Risk Management Practice, focuses on capital markets modeling, market-consistent valuation of assets and liabilities, quantitative risk analytics, and simulation analysis of risk management strategies. Systems developed by this group support trading functions within active hedge programs and also serve as calculation engines for stochastic-on-stochastic financial projections of hedge strategy performance.

Requirements

• Begun and made successful progress toward an advanced quantitative academic degree, preferably in math, physics, or quantitative finance
• Experience carrying out quantitative financial analysis, preferably based on portfolio and option valuation theories
• Experience with stochastic modeling exercises including use of Monte Carlo techniques
• Demonstrated proficiency in computer programming languages including C++, Matlab, and Excel VBA, and has an appreciation of object-oriented software design

Nice To Haves

• Demonstrated strong communication skills, capacity for leadership, and creative problem solving
• The ability to work independently and in a team environment
• A results-oriented work ethic

Responsibilities

• Designing models of exotic derivatives appropriate for pricing exercises, setting hedge positions, and projecting hedge strategy performance
• Implementing derivative models as VBA, C++, and C# modules
• Developing both risk neutral and real-world economic scenarios used for hedge strategy testing purposes
• Calibration of capital markets models to market prices and historical capital markets data
• Developing trading strategies and performing historical regression tests

Benefits

• Employee Assistance Program (EAP)
• 401(k) Plan with company matching program and profit-sharing contributions
• Paid Time Off (PTO)
• Transportation benefits (pre-tax savings for eligible transit and parking expenses)

What This Job Offers

• Career Level: Intern