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Internship Risk Quant Jobs in Minnesota (NOW HIRING)

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Internship Risk Quant information

What is an internship risk quant?

Internship Risk Quants are students or recent graduates who take on temporary roles within financial institutions to assist with quantitative analysis related to risk management. Their main responsibilities include analyzing financial data, developing risk models, and helping identify potential risks for the company. These internships provide hands-on experience with statistical tools, programming, and risk assessment in real-world finance environments. The goal is to prepare interns for full-time quantitative risk analyst roles after graduation.

What types of projects does an internship risk quant typically work on, and how do these projects contribute to the overall risk management strategy of the firm?

Risk Quant interns often work on projects involving data analysis, model validation, and the development of risk assessment tools under the guidance of senior quants. These projects may include tasks such as back-testing risk models, analyzing large datasets to identify potential risk exposures, and automating reporting processes. By contributing to these initiatives, interns help improve the firm's ability to measure and manage financial risks, gaining practical experience with real-world quantitative finance tools and methodologies. Collaboration with teams like trading, risk management, and IT is common, offering interns broad exposure to how quantitative analysis supports strategic decision-making in the organization.

What are the key skills and qualifications needed to thrive as an internship risk quant, and why are they important?

To thrive as an Internship Risk Quant, you typically need strong quantitative skills, a solid background in mathematics, statistics, or finance, and progress towards a relevant degree such as in quantitative finance or a related field. Familiarity with programming languages like Python, R, or MATLAB, as well as experience with risk management systems and financial modeling tools, is highly valued. Attention to detail, analytical thinking, and effective communication skills help interns collaborate and present complex findings clearly. These capabilities are critical for analyzing risk data accurately and supporting decision-making in dynamic finance environments.

What is the difference between Internship Risk Quant vs Risk Analyst?

AspectInternship Risk QuantRisk Analyst
Required CredentialsTypically pursuing or recent graduate, some quantitative courseworkBachelor's or master's in finance, economics, or related field; certifications like FRM or CFA often preferred
Work EnvironmentInternship setting, often in financial institutions or asset management firmsFull-time role in banks, hedge funds, or investment firms
Industry UsageCommonly used for entry-level or internship positions in risk managementEstablished role for ongoing risk assessment and management

The main difference is that an Internship Risk Quant is an entry-level, temporary position aimed at gaining experience, while a Risk Analyst is a full-time professional role responsible for ongoing risk evaluation within financial organizations.

What are the most commonly searched types of Risk Quant jobs in Minnesota?

The most popular types of Risk Quant jobs in Minnesota are:

What are popular job titles related to Internship Risk Quant jobs in Minnesota?

For Internship Risk Quant jobs in Minnesota, the most frequently searched job titles are:

What cities in Minnesota are hiring for Internship Risk Quant jobs?

Cities in Minnesota with the most Internship Risk Quant job openings:

Audit - Valuation & Analytics - AI Specialist

Deloitte

Minneapolis, MN • On-site, Remote

Full-time

Posted 5 days ago


Deloitte rating

8.2

Company rating: 8.2 out of 10

Based on 93 frontline employees who took The Breakroom Quiz

45th of 151 rated financial services


Job description

AI is reshaping how companies operate - from machine learning models driving accounting estimates and automating close processes, to broader AI systems and agents deployed across operations, risk management, and decision-making enterprise-wide. In this role, you'll support engagement teams in identifying, understanding, and evaluating AI systems at the entities we audit and advise - helping assess governance, risk, and controls wherever AI is in use, and contributing to the design of appropriate audit and assurance responses under the guidance of senior team members.

Recruiting for this role ends on 9/2/2026.

Work You'll Do

AI Risk, Governance & Controls Assessment

  • Support engagement teams in identifying and documenting how client entities are using AI - across financial reporting processes and broader enterprise functions - including intelligent automation, AI agents, and agentic systems.
  • Assist in evaluating AI model complexity, reliability, and performance - applying statistical and quantitative methods to assess model inputs, outputs, and assumptions, including drift and year-over-year change, under the direction of senior team members.
  • Help assess governance structures and risk management practices around AI systems, referencing recognized frameworks (e.g., NIST AI RMF, ISO/IEC 42001) as part of broader team assessments.
  • Support the preparation of assessment reports, maturity scorecards, and other client deliverables that document governance gaps and recommended remediation.

Audit Response & Controls Testing

  • Support the evaluation of process vs. control determinations, including the appropriateness of human oversight and monitoring controls over AI systems (e.g., human-in-the-loop reviews, KPI monitoring controls).
  • Assist in designing audit responses to AI-related risks, including controls testing over AI governance, data inputs, and model outputs.
  • Support planning and execution of substantive procedures over account balances and transactions impacted by the use of AI (e.g., accounting estimates derived from ML models, automated journal entries, AI-driven reconciliations).

Communication & Team Collaboration

  • Support day-to-day communication with client working teams (e.g., IT, risk, business process owners) as part of the broader engagement team.
  • Assist in preparing materials and supporting analysis for status updates and workshops with client stakeholders.
  • Communicate technical AI/ML concepts clearly in team settings and client working sessions, under the guidance of senior team members.
  • Stay current on developments across the AI landscape and contribute to internal training materials and team knowledge-sharing.

A successful candidate would possess these skills:

  • Ability to work independently and collaborate as part of a team
  • Effective written and verbal communication skills
  • Meticulous attention to detail and quality of work product
  • Ability to build and sustain professional relationships
  • Ability to lead projects or workstreams
  • Ability to manage and prioritize multiple tasks in a fast-paced and dynamic environment
  • Strong interpersonal skills and professional demeanor
  • Ability to meet deadlines
  • Ability to provide clear guidance to others

The Team

The AI Specialist team sits within Deloitte's Valuation & Analytics practice, embedded in Audit & Assurance. We work with engagement teams across industries to navigate the growing presence of AI in the entities we audit and advise - a high-visibility, high-growth area where you'll build foundational experience while supporting how Deloitte approaches AI across the enterprise.

Qualifications
Required:

  • Bachelor's degree in Computer Science, Data Science, Information Systems, Statistics, Accounting, Finance, or a related field.
  • 1+ years of experience in AI/ML, risk and controls, external or internal audit, advisory, or a technology-focused role (internship experience welcome).
  • Foundational knowledge of machine learning, generative AI, LLMs, and agentic/RAG-based systems - how they're built, validated, monitored, and where they can fail.
  • Basic understanding of internal controls frameworks (e.g., COSO, ICFR) and risk assessment principles.
  • Exposure to model evaluation concepts, such as assessing model accuracy, robustness, and fitness for purpose.
  • Solid grounding in statistics and quantitative methods - including regression, hypothesis testing, and probability.
  • You should reside within a commutable distance of your assigned office with the ability to commute daily, if required.
  • You should expect to co-locate with team members or other colleagues in a Deloitte office, at a client site and/or virtually, based on specific team and business expectations.
  • Ability to travel up to 25%, on average, based on the type of work you perform and the clients served.
  • Limited immigration sponsorship may be available.

Preferred:

  • Hands-on experience with AI/ML tools - e.g., Python (scikit-learn, pandas, PyTorch/TensorFlow), cloud ML platforms (AWS SageMaker, Azure ML, GCP Vertex AI), or similar.
  • Familiarity with the AI regulatory landscape - including the EU AI Act, NIST AI RMF, and related standards.
  • Exposure to advisory or assurance engagements involving organizational governance, risk, or controls (e.g., IT general controls reviews, enterprise risk assessments) outside of the financial statement audit.
  • Master's degree in Computer Science, Data Science, Information Systems, Statistics, or a related field.

The wage range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs. The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled. At Deloitte, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is $67,950 to $136,375.

Qualifications:

AI is reshaping how companies operate - from machine learning models driving accounting estimates and automating close processes, to broader AI systems and agents deployed across operations, risk management, and decision-making enterprise-wide. In this role, you'll support engagement teams in identifying, understanding, and evaluating AI systems at the entities we audit and advise - helping assess governance, risk, and controls wherever AI is in use, and contributing to the design of appropriate audit and assurance responses under the guidance of senior team members.

Recruiting for this role ends on 9/2/2026.

Work You'll Do

AI Risk, Governance & Controls Assessment

  • Support engagement teams in identifying and documenting how client entities are using AI - across financial reporting processes and broader enterprise functions - including intelligent automation, AI agents, and agentic systems.
  • Assist in evaluating AI model complexity, reliability, and performance - applying statistical and quantitative methods to assess model inputs, outputs, and assumptions, including drift and year-over-year change, under the direction of senior team members.
  • Help assess governance structures and risk management practices around AI systems, referencing recognized frameworks (e.g., NIST AI RMF, ISO/IEC 42001) as part of broader team assessments.
  • Support the preparation of assessment reports, maturity scorecards, and other client deliverables that document governance gaps and recommended remediation.

Audit Response & Controls Testing

  • Support the evaluation of process vs. control determinations, including the appropriateness of human oversight and monitoring controls over AI systems (e.g., human-in-the-loop reviews, KPI monitoring controls).
  • Assist in designing audit responses to AI-related risks, including controls testing over AI governance, data inputs, and model outputs.
  • Support planning and execution of substantive procedures over account balances and transactions impacted by the use of AI (e.g., accounting estimates derived from ML models, automated journal entries, AI-driven reconciliations).

Communication & Team Collaboration

  • Support day-to-day communication with client working teams (e.g., IT, risk, business process owners) as part of the broader engagement team.
  • Assist in preparing materials and supporting analysis for status updates and workshops with client stakeholders.
  • Communicate technical AI/ML concepts clearly in team settings and client working sessions, under the guidance of senior team members.
  • Stay current on developments across the AI landscape and contribute to internal training materials and team knowledge-sharing.

A successful candidate would possess these skills:

  • Ability to work independently and collaborate as part of a team
  • Effective written and verbal communication skills
  • Meticulous attention to detail and quality of work product
  • Ability to build and sustain professional relationships
  • Ability to lead projects or workstreams
  • Ability to manage and prioritize multiple tasks in a fast-paced and dynamic environment
  • Strong interpersonal skills and professional demeanor
  • Ability to meet deadlines
  • Ability to provide clear guidance to others

The Team

The AI Specialist team sits within Deloitte's Valuation & Analytics practice, embedded in Audit & Assurance. We work with engagement teams across industries to navigate the growing presence of AI in the entities we audit and advise - a high-visibility, high-growth area where you'll build foundational experience while supporting how Deloitte approaches AI across the enterprise.

Qualifications
Required:

  • Bachelor's degree in Computer Science, Data Science, Information Systems, Statistics, Accounting, Finance, or a related field.
  • 1+ years of experience in AI/ML, risk and controls, external or internal audit, advisory, or a technology-focused role (internship experience welcome).
  • Foundational knowledge of machine learning, generative AI, LLMs, and agentic/RAG-based systems - how they're built, validated, monitored, and where they can fail.
  • Basic understanding of internal controls frameworks (e.g., COSO, ICFR) and risk assessment principles.
  • Exposure to model evaluation concepts, such as assessing model accuracy, robustness, and fitness for purpose.
  • Solid grounding in statistics and quantitative methods - including regression, hypothesis testing, and probability.
  • You should reside within a commutable distance of your assigned office with the ability to commute daily, if required.
  • You should expect to co-locate with team members or other colleagues in a Deloitte office, at a client site and/or virtually, based on specific team and business expectations.
  • Ability to travel up to 25%, on average, based on the type of work you perform and the clients served.
  • Limited immigration sponsorship may be available.

Preferred:

  • Hands-on experience with AI/ML tools - e.g., Python (scikit-learn, pandas, PyTorch/TensorFlow), cloud ML platforms (AWS SageMaker, Azure ML, GCP Vertex AI), or similar.
  • Familiarity with the AI regulatory landscape - including the EU AI Act, NIST AI RMF, and related standards.
  • Exposure to advisory or assurance engagements involving organizational governance, risk, or controls (e.g., IT general controls reviews, enterprise risk assessments) outside of the financial statement audit.
  • Master's degree in Computer Science, Data Science, Information Systems, Statistics, or a related field.

The wage range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs. The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled. At Deloitte, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is $67,950 to $136,375.

Education:Bachelor's DegreeEmployment Type:

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