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Quantitative Development Intern - FRM
Chicago, IL
Job/Internship Description
The Chicago office of Milliman Inc. is looking for bright, enthusiastic and qualified candidates to work in their Financial Risk Management (FRM) practice.
We have a focused, multi-disciplinary team of actuaries, financial engineers / capital markets professionals and software developers working together to develop risk management solutions for the financial services industry. We currently advise some of the world's largest insurance companies in areas such as hedging strategy and operations, portfolio risk management, and capital requirements.
Responsibilities
The candidate would potentially be involved in the following types of projects:
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
Required Skills
The ideal candidate will have:
Obtained, or made successful progress toward, an advanced quantitative academic degree, preferably in math, physics, or quantitative finance
Made successful progress toward CFA and/or FRM designations
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
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 ethicEqual Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThe contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information.
Milliman is an equal opportunity employer
Our company, with the full support of our Chief Executive Officer, is fully committed to the maximum utilization of all human resources and the goals of Equal Employment Opportunity and Affirmative Action. We recruit, hire, train, and promote, and consider qualified applicants for employment, in all job titles without regard to age, ancestry, citizenship status, color, creed, familial status, genetic information, marital status, national origin, political ideology, race, religion, sex, sexual orientation, gender identity, status as an individual with a disability, or veteran status, including qualified disabled veterans, Armed Forces service medal veterans, recently separated veterans, and active duty wartime or campaign badge veterans; and shall not discriminate against any individual, or any other characteristic protected by law.
Reasonable Accommodation Notice
Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.
Position Summary
Company
Start Date
As soon as possible
Employment Type
Full Time
Period of Employment
Open
Type of Compensation
Paid
College Credits Earned
No
Tuition Assistance
No
Required Student Status
Open
Preferred Majors
Other
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