Summer Intern - Model Risk Management
About The Position
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. OCC operates under a Hybrid Work Program which, absent an approved exception, requires employees to work from an OCC office at least 3 days per week. To maximize in–person collaboration, Tuesday and Wednesday are considered anchor days, and all employees are expected to work in the office both days. Employees meeting performance expectations are generally permitted to select 2 other days per week to work remotely if desired. When working remotely, employees are generally expected to work from the state in which they reside, absent an exception approved by Human Resources. Additionally, OCC generally does not permit employees to work while traveling internationally. 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.
Requirements
- Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
- Desired Majors: Financial mathematics, Mathematics, Physics, Finance, Computer Science
- 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
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
Benefits
- Paid sick leave accrued based on hours worked.
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What This Job Offers
Job Type
Full-time
Career Level
Intern
Education Level
No Education Listed
