2027 Risk Summer Analyst

AQR Capital Management AQR is a global investment firm built at the intersection of financial theory and practical application. We strive to deliver concrete, long-term results by looking past market noise to identify and isolate the factors that matter most, and by developing ideas that stand up to rigorous testing. By putting theory into practice, we have become a leader in alternative strategies and an innovator in traditional portfolio management since 1998. At AQR, our employees share a common spirit of academic excellence, intellectual honesty and an unwavering commitment to seeking the truth. We’re determined to know what makes financial markets tick – and we’ll ask every question and challenge every assumption. We recognize and respect the power of collaboration and believe transparency and openness to new ideas leads to innovation. The Internship Program Our 10‑week summer program puts the real work of the firm in your hands. You will work alongside brilliant people, gain insights and know‑how from our Quanta Academy Summer Term curriculum, and experience what it’s like to work at the pinnacle of global, systematic investing. Learning is the cornerstone of our culture and plays an active role in the internship experience – through daily collaboration and interaction with employees at all levels, in workshops and classes, and most significantly by working on projects that matter to themany clientswe serve. Our unique AQR Quanta Academy: Summer Term learning series, a structured program, consists of over 40 hours of educational, skill‑building and networking events. The Team AQR’s Risk Management team has direct responsibility for monitoring and managing market, liquidity, credit, model and operational risk exposures of firm‑managed investments. The team performs a wide range of primary and macro‑driven research, including stress testing, scenario analysis, and hedging methodologies. The risk department works closely with the firm’s many portfolio managers, researchers and traders across macro, equity, credit and derivatives markets in order to holistically manage the firm’s risks. Your Role AQR’s Risk Management team is looking for exceptionally talented individuals to participate in our summer internship program. The Summer Analyst will contribute to a variety of the Risk team’s functions and gain practical experience in managing market risks. The role will include researching and developing risk methodologies, conducting quantitative investigations, and providing ongoing support to risk managers. Responsibilities include: Gain exposure to the many types of market and liquidity risks when managing investment strategies and partner with a seasoned risk manager on a series of varied analytics. Incorporate the outcomes of successful research to develop methodologies for risk management, and improve existing ones. Provide quantitative support to risk managers, including monitoring of investment risk and market risk measures, across portfolios and asset classes. Support daily risk processes, including active risk management as well as limits monitoring and related escalation procedures. Participate in new projects, client development initiatives, and ad‑hoc activities. What You’ll Bring December 2027 or Spring 2028 graduate in a financial and/or quantitative field. Strong interest in markets and risk management. Familiarity with financial instruments and risk metrics (including, but not limited to: risk exposures, duration, beta, volatility, option Greeks). Prior experience using a high‑level programming language (e.g. Python, Matlab, C++) as a research tool. Who You Are Committed to intellectual integrity, with a high degree of ethics. Mature and thoughtful, with the ability to operate within a collaborative, team‑oriented culture. Hard‑working and eager to learn in a highly intellectual, innovative environment. Well‑organized, detail‑oriented; able to multi‑task and keep track of various deadlines. Look beyond the surface level to understand the underlying details. AQR is an Equal Opportunity Employer. EEO/VET/DISABILITY #J-18808-Ljbffr AQR Capital Management