Quantitative Risk Intern

Why work at MGIC?

Are you someone who wants to play a critical role in our company’s success? Do you enjoy solving puzzles and finding a better way to get things done? Are you someone who likes to Take The Lead and make an impact? If so, then imagine yourself at MGIC. At MGIC we are a team of dedicated professionals on a fearless mission. A team that fosters a culture of career development and continuous learning opportunities to help you rise to new heights. We are passionate about providing outstanding customer service and making a difference in our community. #WeAreMGIC

How will you make an impact?

As a Quantitative Risk Intern, you will support the company’s implementation of our Model Risk Management framework. To accomplish this, you will engage in a variety of analytical activities in the following areas:

Contribute to the creation of model risk management policy and standards that align with industry best practices, regulatory guidance, and MGIC's unique operational environment.

Conduct independent assessments of model performance, identify strengths and weaknesses from both a computational and quantitative perspective while ensuring the maintenance of accurate documentation.

Collaborate with key functional areas associated with models, including Model Developers, Model Application Development, Operations and Implementation, and Data Governance.

Shape and implement MGIC's model risk appetite, as well as determine the approach to quantifying and aggregating model risk.

Conducts research, gathers information, and maintains awareness of business environment, government events, regulatory changes, and rating agency disclosures. Provide recommendations for improvements to the model risk management framework.

Collaborate on initiatives across teams and departments

Perform ongoing adhoc data projects, analyses as needed to meet business needs.

Do you have what it takes?

Master’s degree in a quantitative field such as Computational Finance, Economics, Mathematics, Actuarial Science, etc.

Interdisciplinary knowledge including finance, mathematics, statistics, and programming.

Programming proficiency in one or more of the following: Python, R, SQL, SAS or similar languages

Knowledge/experience with Gitlab

Knowledge and/or experience with logistic models, Monte Carlo state transition framework, stochastic economic models (home prices, interest rates, unemployment)

Knowledge in machine learning model development and post model evaluation

Experience with credit risk data

Intellectual curiosity and go-getter attitude

Strong verbal and written communication skills

Enjoy these benefits from day one:

• Competitive Salary & pay-for-performance bonus

• Financial Benefits (401k with company match, profit sharing, HSA, wellness program)

• On-site Fitness Center and classes (corporate office)

• Paid-time off and paid company holidays

• Business casual dress

For additional information about MGIC and to apply, please visit our website at

Note to all recruitment agencies:

MGIC does not accept unsolicited agency resumes. Any unsolicited resumes sent to MGIC, directly or indirectly, will be considered MGIC property. MGIC is not responsible for any agency fees associated with unsolicited resumes. A recruiting agency must have a valid, written and fully executed agency agreement to assist with a requisition.

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