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CME Group

Runs global futures and options markets

Quantitative Risk Management Intern

Quantitative ResearchPosted on Jun 13
Internship · Fall 2026New York, NY, USA$23.84 - $39.71 /hr

About the Job

Requirements

  • A Master's degree or PhD in Statistics, Mathematics, Physics, Operational Research, Financial Mathematics, or Engineering is required.
  • Experience with programming languages such as Python, C++, R, VBA, and SQL is required.
  • Candidates must currently be pursuing a Master's degree or PhD.
  • Candidates must be local to New York.
  • Candidates must be legally authorized to work in the United States without employment sponsorship assistance, including CPT, H1B, F1, or L visas.

Responsibilities

  • Assist with quantitative risk research and day-to-day activities supporting the CME Securities Clearing business.
  • Develop risk and pricing models that evaluate counterparty exposures to the Clearing House, including models for pricing, Value-at-Risk, stress testing, liquidity, and regulatory capital.
  • Develop tools for portfolio analytics.
  • Perform back testing and statistical analysis to ensure adequate margin coverage and justify model assumptions.
  • Conduct empirical studies and make recommendations on margin levels, modeling issues, and other risk-mitigation measures.
  • Ensure models remain current with proven theories in the field.
  • Ensure deployment, testing, and continuous improvement of models within CME's production infrastructure.
  • Enhance existing risk models and design or prototype new models across asset classes including over-the-counter and futures products.

Desired Qualifications

  • Commitment to the highest ethical standards.
  • Knowledge of bond mathematics and CME rate products.
  • Proficiency in probability, statistics, and optimization.
  • Understanding of back-testing frameworks, historical analysis, and scenario-based research.
  • Hands-on programming experience in Python with NumPy, pandas, and Matplotlib, or in analytical packages such as R or MATLAB, along with data visualization experience.

About the Company

CME Group

Runs global futures and options markets

CME Group runs the world’s leading derivatives marketplace, offering futures and options across major asset classes on four exchanges (CME, CBOT, NYMEX, COMEX). Its services include trading platforms, clearing and settlement, and market data, serving individual traders, institutions, and commercial entities. How it works: traders buy and sell standardized contracts (futures and options) on its platforms; the trades are cleared through a central clearinghouse, which handles margining, settlement, and risk management, providing price discovery and transfer of risk. How it differs: CME Group combines a broad range of benchmark products with integrated services (trading, clearing, market data) across multiple exchanges, giving wide instrument access, global reach, and a unified risk-management framework. Goal: to provide a reliable, efficient system for price discovery, hedging, speculating, and managing risk in global derivatives markets.

Company size
1,001-5,000
Company stage
IPO
Headquarters
Chicago, IL
Founded
1848

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