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Model Risk Intern Jobs in Saint Charles, IL (NOW HIRING)

Compeer Financial

Pricing Specialist

Naperville, IL · On-site

Casual/seasonal & intern team members are not eligible for benefits except for state-mandated ... Supports model risk management for all Asset Liability Committee (ALCO)/pricing models, including ...

DRW

Venture Capital Analyst Intern

Chicago, IL · On-site

$80K/yr

Underwrite and evaluate investments based on risk and return fundamentals * Assist with deal ... Prepare discounted cash flow, competitive market and development model analyses for current and ...

Ocean Tomo, LLC

Ocean Tomo Summer Internship

Chicago, IL · On-site

$20 - $30/hr

... strategy and risk management consulting; mergers and acquisitions; debt and equity private ... As an intern, you may be engaged in financial modeling, research, and report composition. We work ...

TransMarket Group

Algorithmic Trader Intern

Chicago, IL · On-site

$15.50 - $20.50/hr

We use next-generation technology to capture opportunities around the world and manage risk in ... Build and maintain trading quantitative model tools and analytics * Learn and master programming ...

New

TransMarket Group

Algorithmic Trader Intern

Chicago, IL

$15.50 - $20.50/hr

We use next-generation technology to capture opportunities around the world and manage risk in ... Build and maintain trading quantitative model tools and analytics * Learn and master programming ...

New

Ocean Tomo

Summer Internship

Chicago, IL · On-site

$20 - $30/hr

... strategy and risk management consulting; mergers and acquisitions; debt and equity private ... As an intern, you may be engaged in financial modeling, research, and report composition. We work ...

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All JobsModel Risk Intern JobsModel Risk Intern Jobs in Saint Charles, IL

Model Risk Intern information

See Saint Charles, IL salary details

$24.9K

$41.7K

$86.1K

How much do model risk intern jobs pay per year?

As of Aug 6, 2026, the average yearly pay for model risk intern in Saint Charles, IL is $41,654.00, according to ZipRecruiter salary data. Most workers in this role earn between $31,800.00 and $45,000.00 per year, depending on experience, location, and employer.

What is the difference between Model Risk Intern vs Quantitative Analyst Intern?

AspectModel Risk InternQuantitative Analyst Intern
Required CredentialsTypically pursuing or holding a degree in finance, mathematics, or related fieldsSimilar educational background, often with additional focus on finance or economics
Work EnvironmentRisk management teams within banks, asset managers, or financial institutionsQuantitative research teams in investment firms, banks, or hedge funds
Employer & Industry UsageCommon in risk management departments across financial servicesPrevalent in trading, investment, and financial analysis roles

The Model Risk Intern focuses on identifying, assessing, and mitigating risks associated with financial models, ensuring their accuracy and compliance. In contrast, the Quantitative Analyst Intern typically develops and applies mathematical models for trading, investment strategies, or financial analysis. Both roles require strong quantitative skills and often overlap in educational background, but they serve different functions within financial organizations.

What is a model risk intern?

Model Risk Interns are students or early-career professionals who support the model risk management teams within financial institutions or other organizations that rely on quantitative models. Their responsibilities typically include assisting with model validation, documentation, testing, and analysis to ensure models are accurate and compliant with regulatory requirements. They work under the supervision of experienced model risk analysts, gaining hands-on experience in risk assessment, data analysis, and regulatory compliance. This role is ideal for individuals pursuing degrees in mathematics, statistics, finance, or related fields.

What types of projects does a model risk intern typically work on, and how do these projects support the overall risk management function?

As a Model Risk Intern, you will often assist with validating financial and statistical models used across various business functions, such as credit risk, market risk, and operational risk. Your projects may include reviewing model documentation, performing sensitivity analysis, and preparing validation reports. These tasks help ensure the accuracy and reliability of models that inform critical business decisions, directly supporting risk management and regulatory compliance. Additionally, you’ll collaborate closely with quantitative analysts, model developers, and risk managers, gaining valuable exposure to cross-functional teamwork in a fast-paced financial environment.

What are the key skills and qualifications needed to thrive as a model risk intern, and why are they important?

To thrive as a Model Risk Intern, a strong background in quantitative analysis, statistics, and finance—often supported by coursework in mathematics, economics, or related fields—is essential. Familiarity with programming languages like Python or R, experience with statistical modeling tools, and knowledge of regulatory guidelines such as SR 11-7 are typically required. Analytical thinking, attention to detail, and clear communication are vital soft skills for explaining complex models and collaborating with stakeholders. These skills ensure accurate model validation, effective risk assessment, and compliance with regulatory standards in financial institutions.
Model Risk Intern jobs near you

Quantitative Risk Intern - Summer 2027

DV Trading

Chicago, IL

$35 - $40/hr

Temporary, Internship

Posted yesterday

New

Job description

About Us:
Founded 20 years ago and headquartered in Chicago, the DV Group of financial services firms has grown to more than 600 people operating throughout North America, Europe and Asia. Since spinning out of a large brokerage firm in 2016, DV Trading has rapidly scaled as an independent proprietary trading firm utilizing its own capital, trading strategies, and risk management methodologies to provide liquidity to worldwide financial markets and hedging opportunities to commodity producers and users. Now, DV group affiliates include two broker dealers, a cryptocurrency market making firm, and a bourgeoning investment adviser.
Responsibilities:

  • Build and execute advanced quantitative risk monitoring using results from above exercise, including design, collection and analysis of key risk metrics in collaboration with multiple stakeholders to influence business strategy.
  • Utilize advanced quantitative analytics to assess future risk, opportunities, and effectiveness and translate results into meaningful solutions to enhance decision making.
  • Contribute to strategic, cross-functional initiatives within the Quantitative Risk Management team.
  • Present results of the reviews performed to the Executive Management Team.

Requirements:

  • Pursuing a degree in Mathematics, Statistics, Physics, Computer Science, or another highly quantitative field
  • Expecting to graduate between Winter 2027 and Summer 2028
  • Proficient to advanced knowledge of statistical modeling and other quantitative techniques including, but not limited to linear & non-linear regression, optimization, simulation, time-series analysis, probability theory, survival analysis, value-at-risk, PCA, and GARCH
  • Basic proficiency in Python and SQL is required
  • Ability to communicate complex concepts and findings in a clear and concise manner.

Preferred Skills:

  • Knowledge of option pricing and fixed income analytics
  • Advanced proficiency in Python
  • A working knowledge of Python SciPy & statsmodels, R, C/C++/C#, SAS, and/or Matlab
  • Knowledge of enterprise risk management and internal control standards, especially within the financial services industry
  • Proficiency in data management and reporting tools strongly desired (Essbase, Word, Excel, Power Point, Access)

Compensation range: $35.00-$40.00/hr

DV is not accepting unsolicited resumes from search firms. Only search firms with valid, written agreements with DV should submit resumes in response to DV's posted positions. All resumes submitted by search firms to DV via e-mail, the Internet, personal delivery, facsimile, or any other method without a valid written agreement shall be deemed the sole property of DV, and no fee will be paid in the event the candidate is hired by DV. DV is proud to be an equal opportunity employer and committed to creating an inclusive environment for all employees.