Quant Developer Intern- Summer 2026 (May Start)

Chicago, IL - USA

Hourly Salary: $ 21 - 38

Posted on: 30+ days ago

Vacancies: 1 Vacancy

Job Summary

Who We Are

The Chicago office of Milliman Inc. is looking for bright enthusiastic and qualified candidates to work in their Financial Risk Management (FRM) practice.

Millimans rigorous distinctly innovative approach to risk management is built on a foundation of actuarial expertise and shaped by some of the most advanced thinking in the industry. Whether youre looking to improve capital efficiency comply with regulatory requirements or guard against market volatility Milliman offers a complete range of operational strategic and financial risk management solutions and tools.

We have a focused multi-disciplinary team of actuaries financial engineers/capital markets professionals and software developers working together to develop risk management solutions for the financial services industry. We currently advise some of the worlds largest insurance companies in areas such as hedging strategy and operations portfolio risk management and capital requirements.

We hire the best in the businessand then trust them to do their work their way. Its about personal responsibility creativity flexibility. We believe great work happens in great work environments.

Our culture is highly collaborative with value placed on high quality work and innovation.

The Department/Team

The Quantitative Development group within Millimans Financial Risk Management Practice focuses on capital markets modeling market-consistent valuation of assets and liabilities quantitative risk analytics and simulation analysis of risk management strategies. Systems developed by this group support trading functions within active hedge programs and also serve as calculation engines for stochastic-on-stochastic financial projections of hedge strategy performance.

Your Role/What Youll Do

The candidate would potentially be involved in the following types of projects:

Designing models of exotic derivatives appropriate for pricing exercises setting hedge positions and projecting hedge strategy performance
Implementing derivative models as VBA C and C# modules
Developing both risk neutral and real-world economic scenarios used for hedge strategy testing purposes
Calibration of capital markets models to market prices and historical capital markets data
Developing trading strategies and performing historical regression tests

Your Qualifications

The ideal candidate will have:

Begun and made successful progress toward an advanced quantitative academic degree preferably in math physics or quantitative finance
Experience carrying out quantitative financial analysis preferably based on portfolio and option valuation theories
Experience with stochastic modeling exercises including use of Monte Carlo techniques
Demonstrated proficiency in computer programming languages including C Matlab and Excel VBA and has an appreciation of object-oriented software design

Additionally desired qualifications include:

Demonstrated strong communication skills capacity for leadership and creative problem solving
The ability to work independently and in a team environment
A results-oriented work ethic

Location

Candidates hired into this role will be required to work in-person in the Milliman office in Chicago IL on a weekly basis but flexible work arrangements will be considered.

Compensation

The salary range for this role is $21 - $38 per hour depending on a combination of factors including but not limited to education relevant work experience qualifications skills certifications location etc.

Benefits

We offer competitive benefits which include the following based on plan eligibility:

Employee Assistance Program (EAP) Confidential support for personal and work-related challenges.
401(k) Plan When an employee reaches 1000 hours worked within 12 consecutive months they become eligible for a 401(k) plan that includes a company matching program and profit-sharing contributions.
Paid Time Off (PTO) Begins accruing on the first day of work; Interns Temporary and Seasonal Employees will earn PTO each pay period based on 1 hour for every 30 hours worked.
Transportation Pre-tax savings for eligible transit and parking expenses.

Equal Opportunity

All qualified applicants will receive consideration for employment without regard to race color religion sex sexual orientation national origin disability or status as a protected veteran.

Required Experience:

Intern

Who We AreThe Chicago office of Milliman Inc. is looking for bright enthusiastic and qualified candidates to work in their Financial Risk Management (FRM) practice.Millimans rigorous distinctly innovative approach to risk management is built on a foundation of actuarial expertise and shaped by some ...