Summer Intern, Credit Risk Management

About OCC

The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization, founded in 1973. OCC promotes stability and market integrity by delivering clearing and settlement services for options, futures, and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 21 exchanges and trading platforms.

About The Team & Role

Credit Risk Management (CRM) is part of OCC's Financial Risk Management (FRM) division. The team safeguards OCC from counterparties with elevated credit or operational risk or lacking sound risk management programs. The team manages the counterparty lifecycle from onboarding, monitoring, risk examinations, and off boarding.

An intern on the CRM team will gain hands-on exposure to a live counterparty risk function and contribute to managing counterparty risk. The intern will be paired with CRM staff, exposed to senior stakeholders, and gain visibility into how OCC's first line of defense manages counterparty credit risk.

Key Responsibilities

• Supporting due diligence and financial statement analysis for Clearing Member or bank on-boarding applications.
• Assisting with Watch Level surveillance: pulling and reviewing financial/operational data to help identify emerging risk trends.
• Helping prepare materials for Clearing Member risk examinations (questionnaires, document requests, findings write-ups).
• Contributing to analysis and/or reporting to management.
• Assisting with special projects (e.g., process enhancements, data transformation, code reviews, dashboard design, or credit rating model support) alongside Analysts and Associates on the team.

Internship Details

• Internship type: Seasonal intern (12 weeks, summer 2027)
• Location: Chicago or Dallas
• Hybrid Work Program: Requires working from an OCC office at least 3 days per week. Tuesdays and Wednesdays are anchor days.
• Work hours: Up to 40 hours per week; overtime is not permitted.
• Eligibility: Open to undergraduate and graduate students actively enrolled at a college or university.

Requirements & Tech Stack

• Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
• Desired Majors: Bachelor’s degree preferably in Finance, Economics, Accounting, Risk Management, or a computational & quantitative major.
• Proficient in Microsoft Office, including Excel experience using lookups and pivot tables for data analysis.
• Comfortable developing PowerPoint presentations.
• Ability to read and understand financial statements.
• Excellent organization skills – must be detail-oriented.
• Strong verbal and written communication skills.
• Familiarity with large relational data sets, programming languages (SQL, Python, Java), and data visualization tools is preferred.
• Demonstrated analytical and problem-solving skills.
• Ability to work in a collaborative environment.

Compensation

• Hourly rate: $25.00
• Eligible for an annual discretionary incentive compensation award (target range not specified).
• Paid sick leave accrued based on hours worked.
• No other benefits, including technology stipend, apply to interns.