2027 Market Risk Intern, New York

2027 Market Risk Summer Intern – New York

Location

New York, New York

About Millennium

Millennium is a global, diversified alternative investment firm, founded in 1989. Defined by evolution, innovation, and focus, Millennium’s mission is to deliver results for its investors.

Our people are empowered with both independence and support: the autonomy to pursue ideas with conviction and the backing of a global network committed to collaboration, disciplined risk management, and continuous learning. With opportunities to deepen expertise and accelerate development, talent at Millennium is equipped to adapt, evolve, and build lasting impact over time.

Meet the Teams

Millennium’s Global Risk Management Department identifies, measures, monitors, manages, and reports on the market risks associated with the firm’s portfolios. The team partners with portfolio managers across asset classes to monitor investment objectives and risk parameters using a broad range of measures and guidelines. During this ten-week program, interns receive training from experienced professionals and may join an Equities, Credit and Mortgage, Rates and Macro, Commodities, Volatility, or Enterprise Risk desk in a rigorous, collaborative environment.

What You’ll Do

• Develop and support tools for monitoring the risk of the firm’s trading groups, such as risk guidelines and pre-trade checks, factor model-based projects, and performance measurement (including model development and model validation work).
• Investigate overlapping exposures between portfolio management teams.
• Assess market exposures, stress testing scenarios, and portfolio sensitivities.
• Utilize Python for data cleaning, time series analysis, statistical modeling, and visualizations.
• Present data-driven insights clearly and effectively to the broader team.
• Evaluate pricing frameworks for financial instruments such as interest rate options, inflation derivatives, and structured products.
• Perform day-to-day tasks as well as longer-term projects.
• Build, test, and validate quantitative and statistical models, including model performance monitoring and documentation.
• Conduct research and apply data science techniques such as predictive modeling and statistical analysis.

What You Have

• Graduating between December 2027 and June 2028 with an undergraduate or master’s degree.
• Expected GPA of 3.5 or above.
• A field of study in mathematics, statistics, physics, computer science, or engineering.
• Strong quantitative, analytical, statistical analysis, and data science skills.
• Exposure to quantitative modeling or model validation.
• Experience using Python or R.
• Experience leveraging AI tools to improve research, workflow efficiency, and problem-solving, with strong attention to detail and sound judgment.
• Understanding of financial markets.

Salary Range

The estimated base salary range for this position is $110,000 to $150,000, specific to New York and may change in the future.