2027 Market Risk Intern, New York
Millennium Management · New York, United States · 2mo ago
If you are interested in more than one business or office location, you may submit a maximum of 2 applications.
Location
New York, New York
Job Title
2027 Market Risk Summer Intern – New York
About Millennium
Millennium is a global, diversified alternative investment firm, founded in 1989. Defined by evolution, innovation and focus, Millennium’s mission is to deliver results for our investors.
Our people are empowered with both independence and support: the autonomy to pursue ideas with conviction and the backing of a global network committed to collaboration, disciplined risk management and continuous learning. With opportunities to deepen expertise and accelerate development, talent at Millennium is equipped to adapt, evolve and build lasting impact over time. Discover how transformative growth accelerates impact.
Meet the Teams
Millennium’s Global Risk Management Department identifies, measures, monitors, manages and reports on the market risks associated with the firm’s portfolios. The team partners with portfolio managers across asset classes to monitor investment objectives and risk parameters using a broad range of measures and guidelines. During this ten-week program, interns receive training from experienced professionals and may join an Equities, Credit and Mortgage, Rates and Macro, Commodities, Volatility, or Enterprise Risk desk in a rigorous, collaborative environment.
What You’ll Do
Your responsibilities will depend on your desk and role placement you may:
- Develop and support tools for monitoring the risk of the firm’s trading groups, such as risk guideline and pre-trade checks, factor model-based projects and performance measurement, including model development and model validation work.
- Investigate overlapping exposures between portfolio management teams.
- Assess market exposures, stress testing scenarios, and portfolio sensitivities
- Utilize Python for data cleaning, time series analysis, statistical modeling, and visualizations.
- Present data-driven insights clearly and effectively to broader team.
- Evaluate pricing frameworks for financial instruments such as interest rate options, inflation derivatives, and structured products.
- Perform day-to-day tasks as well as longer term projects.
- Build, test and validate quantitative and statistical models, including model performance monitoring and documentation.
- Conduct research and apply data science techniques such as predictive modeling and statistical analysis.
What You
- Graduating between December 2027 to June 2028 with an undergraduate or master’s degree
- Expected GPA of 3.5 or above
- A field of study in mathematics, statistics, physics, computer science or engineering
- Strong quantitative, analytical, statistical analysis and data science skills
- Exposure to quantitative modeling or model validation
- Experience using Python or R
- Experience leveraging AI tools to improve research, workflow efficiency, and problem-solving, while maintaining strong attention to detail and sound judgment
- Understanding of financial markets
Salary Range
The estimated annual compensation package range for this position is $128,000 to $168,000, which is specific to New York and may change in the future.