2027 Institutional Equity Quantitative Finance Off-Cycle Internship - Derivatives (New York)

About the role

Four-to-six-month off-cycle internship within Institutional Equity Strats, focused on derivative modeling and quantitative finance. Interns work alongside trading professionals to develop valuation models, analyze complex trades, manage derivatives risk, and build tools supporting sales and trading innovation, automation, and decision-making.

Program and Team

• Work within an assigned team alongside full-time professionals throughout the four-to-six-month program.
• Receive individual coaching and continuous feedback while experiencing a potential long-term career with the firm.
• Institutional Equity Strats supports sales and trading through advanced technology and quantitative infrastructure.

Responsibilities

• Implement new derivative valuation models and algorithms while supporting the existing analytics library.
• Analyze complex trades to determine appropriate pricing methodologies.
• Analyze and manage risks associated with positions currently held in trading books.
• Create tools that improve decision-making and efficiency across sales and trading.
• Support derivative pricing, automated booking, model enhancements, and risk-management infrastructure.

Requirements

• Pursue a PhD in a quantitative discipline and complete the degree between December 2027 and June 2028.
• Hold or pursue an advanced quantitative degree in engineering, applied mathematics, physics, software engineering, or a related field.
• Demonstrate very strong modeling skills; knowledge of equity derivatives models is advantageous.
• Demonstrate very strong object-oriented programming skills within a front-office team library.
• Know probability, numerical analysis, stochastic calculus, approximation theory, and partial differential equations.
• Communicate effectively in written and verbal English and work effectively in an intense, team-oriented environment.