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2027 Summer Intern – Quantitative Analyst (Raleigh, NC)

First Citizens Bank
  • Raleigh, North Carolina
    4 days ago

    Job Description

    Overview:

    First Citizens Bank offers an exciting summer internship program that provides development opportunities and hands-on work experience while creating a talent pipeline for the Bank. Our interns will apply classroom knowledge in a corporate environment while making a positive impact across the organization and the communities we serve. Come help First Citizens build for the future! 

      

    The Finance Quantitative Office is the bank’s dedicated modeling organization.  It covers credit loss, deposit, derivatives, and loan models.  This internship will focus on derivatives models.  Presently, that team is working on enhancements to the ongoing monitoring, valuation adjustments, and risk measurements.

    Responsibilities & Qualifications:

    Duties & Responsibilities 

    In this role, you will: 

    • Analyze the bank’s portfolio of both swaps and vanilla options in rates and foreign exchange.
    • Benchmark various analytics (i.e., mark-to-market and Greeks) on the above portfolios.
    • Provide rationale for possible extensions to bank’s existing model inventory.
    • Use existing systems to cross-check and validate production results.
    • Be part of a dynamic team with interesting projects. 
    • Accountabilities can and may include areas such as research, analytics, projects, strategy, process review and improvement, as well as technology enhancements and support. 
    • Attend professional development sessions, informational sessions, networking and community service events. 
    • Have a dedicated manager and program manager to help you navigate the bank and the internship program. 
    • Be assigned a project, designed to improve a specific process or solve a problem that you will present at the close of the internship. 
    • Prepare a wrap-up presentation to be shared with the division leader and other key stakeholders in the company to outline your accomplishments and experience during the internship.

      

    Internship dates: 5/24/27 - 7/30/27  

      

    Position Specific Skills: 

    • Adaptability
    • Communication (Written & Verbal)
    • Critical Thinking Skills

      

    Required qualifications: 

    • High School Diploma or GED and 1 year of experience 
    • Currently enrolled at an accredited collegiate institution (during the time of the summer program) 
    • Ability to work 40 hours per week during the duration of the program

      

     

    Preferred qualifications:

    • Student pursuing a Master’s (MS/MSc) or Doctoral (PhD) degree with a quantitative focus: mathematics, physics, statistics, engineering, or operations research.
    • Quantitative skills specific to derivatives modeling: probability theory and stochastic processes, stochastic differential equations, partial differential equations, numerical analysis, and optimization theory.
    • Programming experience: Python (preferred), SQL (nice-to-have), QuantLib or Open-Source Risk Engine (bonus).
    • 3.0 minimum GPA 
    • Strong desire to learn and grow 
    • Possess a positive attitude, naturally curious and enjoys collaborating with others 
    • Strong verbal and written communication skills 
    • Critical thinking skills 
    • Ability to multitask 
    • Ability to adapt and adjust priorities based on business needs 
    • Ability to take direction and absorb information quickly 
    Additional Information:

    Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.

    Numbers & Facts

    LocationRaleigh, North Carolina
    IndustryBanking
    Company Size10,000 employees or more
    Year Founded1898
    Websitehttps://www.firstcitizens.com

    Benefits

    Paid Sick Days, Prescription Drug Coverage, Professional Development, 401K, Flexible Spending Accounts, Retirement / Pension Plans, Life Insurance

    About Company

    First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. As the largest family-controlled bank in the United States, First Citizens is continuing a unique legacy of strength, stability, and long-term thinking that has spanned generations. Founded in 1898 and headquartered in Raleigh, N.C., First Citizens also operates a nationwide direct bank and a network over 550 branches in 22 states. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. First Citizens Bank brings together personal service and powerful tools to help customers do more with their money – and make more of their future.  

    Looking for a career with CIT? CIT is now a division of First Citizens Bank.

    First Citizens Bank. Forever First®

    Skills

    • Analysis Skillsunmatched
    • Benchmarkingunmatched
    • Candidate Pipelineunmatched
    • Communication Skillsunmatched
    • Community and Social Servicesunmatched
    • Compensation and Benefitsunmatched
    • Differential Equationsunmatched
    • Establish Prioritiesunmatched
    • Exchange Ratesunmatched
    • Financial Mathematicsunmatched
    • Foreign Exchange (FX)unmatched
    • High School Diplomaunmatched
    • Mathematicsunmatched
    • Multitaskingunmatched
    • Numerical Analysisunmatched
    • Open Sourceunmatched
    • Operations Researchunmatched
    • Physicsunmatched
    • Presentation/Verbal Skillsunmatched
    • Probability Theoryunmatched
    • Problem Solving Skillsunmatched
    • Process Improvementunmatched
    • Project Designunmatched
    • Project/Program Managementunmatched
    • Python Programming/Scripting Languageunmatched
    • Quantitative Analysisunmatched
    • Riskunmatched
    • Risk Analysisunmatched
    • SQL (Structured Query Language)unmatched
    • Statisticsunmatched
    • Swap Marketunmatched
    • Technical Supportunmatched
    • Writing Skillsunmatched

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