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Stochastic Processes Internship Jobs in Wisconsin

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Stochastic Processes Internship information

What types of projects or problems do interns typically work on during a Stochastic Processes Internship?

During a Stochastic Processes Internship, interns often engage in projects that involve modeling uncertainty and randomness using advanced mathematical and statistical techniques. This may include tasks such as analyzing real-world data, simulating random processes, or assisting in the development of algorithms for fields like finance, engineering, or data science. Interns frequently collaborate with senior researchers or analysts to solve practical problems, present findings, and may contribute to ongoing research or product development. The work environment is usually collaborative and may involve regular meetings to discuss progress and share insights.

What is a Stochastic Processes Internship?

A Stochastic Processes Internship is a temporary position that allows students or recent graduates to gain practical experience working with random processes and probabilistic models. Interns typically assist with research, data analysis, simulations, and modeling tasks using mathematical and statistical techniques to analyze systems that evolve over time in a random manner. These internships are common in industries such as finance, insurance, data science, and engineering, where understanding uncertainty and randomness is crucial. Interns often work under the supervision of experienced researchers or professionals, and the experience helps them build both technical skills and industry knowledge.

What are the key skills and qualifications needed to thrive as a Stochastic Processes Intern, and why are they important?

To thrive as a Stochastic Processes Intern, you need a solid understanding of probability theory, statistics, and advanced mathematics, typically supported by coursework or a degree in mathematics, statistics, or related fields. Familiarity with programming languages like Python or R, statistical software, and tools such as MATLAB is often required. Strong analytical thinking, attention to detail, and effective communication are standout soft skills for this role. These skills and qualifications are crucial for analyzing complex random systems, communicating findings, and contributing to research or applied projects.

What is the difference between Stochastic Processes Internship vs Data Analyst Internship?

AspectStochastic Processes InternshipData Analyst Internship
Required CredentialsUndergraduate or graduate in mathematics, statistics, or related fieldsUndergraduate or graduate in statistics, data science, or related fields
Work EnvironmentResearch-focused, often in finance, insurance, or academiaBusiness, finance, or tech companies analyzing data sets
Industry UsageFinance, academia, research institutionsBusiness, marketing, finance, tech
Common Search/ComparisonYesYes

The main difference between a Stochastic Processes Internship and a Data Analyst Internship lies in focus and application. A Stochastic Processes Internship emphasizes mathematical modeling and probability theory, often in research or finance sectors. In contrast, a Data Analyst Internship centers on analyzing data to inform business decisions. Both roles require strong analytical skills and related educational backgrounds, but their industry applications and daily tasks differ significantly.

What are popular job titles related to Stochastic Processes Internship jobs in Wisconsin? For Stochastic Processes Internship jobs in Wisconsin, the most frequently searched job titles are:
What job categories do people searching Stochastic Processes Internship jobs in Wisconsin look for? The top searched job categories for Stochastic Processes Internship jobs in Wisconsin are:
Stochastic Processes Internship jobs near you
Infographic showing various Stochastic Processes Internship job openings in Wisconsin as of July 2026, with employment types broken down into 61% Full Time, and 39% Part Time. Highlights an 85% In-person, and 15% Remote job distribution.
Assistant Actuary - Stochastic Capital Modeling (Hybrid)

Assistant Actuary - Stochastic Capital Modeling (Hybrid)

American Family Mutual Insurance Company

Madison, WI • On-site

$113K - $194K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 3 days ago

Job description

You will perform stochastic modeling analyses to measure and forecast financial strength of the Enterprise. Analyses include periodic forecasts based on Profit & Growth Plan and what-if scenarios that may require creative and flexible thinking to parameterize scenarios based on limited data. You will work with product lines to incorporate capital requirements into profit load indications for products and/or states. Job responsibilities include communication of technical results to non-actuarial and leadership audiences. Knowledge of catastrophe modeling, reinsurance, investments, and insurance accounting are beneficial. Prior experience with capital modeling software and programming in SQL, R or Python are a plus. You will report to a Senior Manager, Actuary.
In this hybrid role, you will be expected to work a minimum of 10 days per month from the office. Candidates should reside within approximately 35-50 miles of one of the following office locations: Madison, WI 53783 or Boston, MA 02110.
#LI-Hybrid
Position Compensation Range:
$113,000.00 - $194,000.00
Pay Rate Type:
Salary
Compensation may vary based on the job level and your geographic work location. Relocation support is offered for eligible candidates.
Responsibilities:
  • Perform periodic updates of enterprise economic capital model: Gather, prepare, and load input data, run the model, interpret and review results.
  • Use capital model to assess risk impact of alternative assumptions, stress scenarios, growth strategies, reinsurance programs, mergers & acquisitions. Includes translating verbal descriptions of scenarios to model parameterizations.
  • Develop continual improvement of modeling process
  • Use spreadsheets and scripting languages to summarize capital model results and perform simplified projections of capital impacts.
  • Communicate capital modeling results to leadership and stakeholders from other divisions.
  • Assist in preparation of capital related materials for Results Week, SLT, and Board meetings.
  • Allocate enterprise required capital to lines of business and/or state for use in developing indicated underwriting profit loads.
  • Develop understanding of primary factors that drive capital requirements such as catastrophe modeling, investments, reinsurance, and loss reserves.

Requirements:
  • Associate or Fellow in Casualty Actuary Society (ACAS or FCAS).
  • Knowledge of catastrophe modeling, reinsurance, investments, and insurance accounting are beneficial.
  • Experience with capital modeling software (MetaRisk) and programming in SQL, R or Python are a plus.
  • Experience in dynamic financial analysis (DFA) or economic capital modeling preferred.
  • Demonstrated experience providing customer-driven solutions, support, or service.
  • Demonstrated experience performing statistical/actuarial analysis and data forecasting and modeling techniques.
  • Extensive knowledge and understanding of forecasting and statistical analysis and modeling.
  • Your offer will be made contingent on the results of applicable background checks and is contingent on signing a non-disclosure agreement for proprietary information, trade secrets, and inventions.

Additional Information
  • To ensure a strong start, all employees participate in our New Employee Orientation during their first week. This experience is held in person at our Madison, WI Headquarters or one of our AmFam core locations to help you connect with our mission, meet key team members and build relationships that support your growth. At times, sessions may be delivered virtually based on scheduling and availability.
  • Offer to selected candidate will be made contingent on the results of applicable background checks
  • Offer to selected candidate is contingent on signing a non-disclosure agreement for proprietary information, trade secrets, and inventions
  • Sponsorship will not be considered for this position unless specified in the posting

We provide benefits that support your physical, emotional, and financial wellbeing. You will have access to comprehensive medical, dental, vision and wellbeing benefits that enable you to take care of your health. We also offer a competitive 401(k) contribution, a pension plan, an annual incentive, 9 paid holidays and a paid time off program (23 days accrued annually for full-time employees). In addition, our student loan repayment program and paid-family leave are available to support our employees and their families. Interns and contingent workers are not eligible for American Family Insurance Group benefits.
We are an equal opportunity employer. It is our policy to comply with all applicable federal, state and local laws pertaining to non-discrimination, non-harassment and equal opportunity. We also consider qualified applicants with criminal histories, consistent with applicable federal, state and local law.
American Family Insurance is committed to the full inclusion of all qualified individuals. If a reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please email AskHR@AmFam.com to request a reasonable accommodation.
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