Quantitative Research Intern - PAG Team

Job Description:

The Department

QRI is an investment division within Asset Management at Fidelity. We are responsible for the management and development of quantitative and hybrid quant/fundamental investment strategies and solutions while providing high quality quantitative, data-driven support to Fidelity’s fundamental investment professionals, ensuring they have access to the most relevant data and advanced quantitative analysis.

Team:

The Platform and Analytics Group (PAG) is a key part of Fidelity’s Quantitative Research and Investing (QRI) team. PAG supports portfolio management and research by managing production data, ensuring model integrity, and delivering end-to-end technical solutions. The team develops and maintains infrastructure, tools, and reporting frameworks for multi-factor risk models, quantitative alpha strategies, big data analytics, and performance attribution. Collaborating closely with technology, research, and investment services, PAG delivers innovative data visualization and analytics to inform investment decisions. Team members also oversee the quality and reliability of analytic environments to ensure timely, accurate insights for portfolio managers.

Education & Experience

• Class of 2027 master’s degree in a technical area
• Familiarity with programming in Python and SQL
• Demonstrated interest and experience in quantitative analysis or research
• Proven ability to communicate findings clearly through written and verbal presentations

Throughout the 10-week internship projects may include but are not limited to:

• Factor Model Data QA: Developing Quality Assurance (QA) checks for external and internal factor model data stored in MARS DB
• Stress Testing: Extending the existing stress testing framework beyond factor-based & linear applications
• Backtesting: Researching and testing the MARS Backtesting framework
• Value-at-Risk (VaR): Extending the factor-based & linear VaR calculation for portfolios with non-linear instruments via Monte Carlo methods
• Idiosyncratic Risk: Researching and testing idiosyncratic risk calculation for individual securities and portfolios for the factor models in MARS

Role:

• Develop understanding across various aspects of equity and fixed income analytics research including analytics calculation, translating analytics into model construction, factor definition and calculation.
• Oversee daily/weekly/monthly production reporting cycles across the analytic environments. Ensure all required input data is available, processes run successfully, statistical output is accurate, and reports are generated properly.
• Respond to ad-hoc data analysis requests in support of projects performed by equity, fixed income or multi-asset class Quant Analysts.
• Participate in the continued development and incorporation of non-traditional and/or unstructured data as well as data science applications to enhance the research and investment process.

The Skills You Bring:

• Strong SQL experience with the ability to navigate diverse database schemas across various content sets
• Familiarity with Python programming
• Demonstrated analytical ability to quickly comprehend large data sets, develop new processes, perform calculations, identify anomalies, and produce new reporting capabilities
• Proven ability to contribute to complex projects within small teams in a fast-paced environment
• Skilled in liaising with investment professionals to gather requirements and manage deliverables for technical development teams
• Highly proactive and self-motivated, capable of meeting objectives with minimal direction
• Knowledge of equity or fixed income security analytics, fund and index performance measurement, predictive risk modeling, and performance attribution (preferred)
• Experience with Bloomberg and/or FactSet (preferred)
• Familiarity with Quant Platform capabilities such as back-testing, computing core statistical measures, and using Cloud Technologies to scale these capabilities (preferred)

Location

Boston, Ma

Intern Program Dates

June 1st, 2026 – August 7th, 2026 (Applicants must be available for the full duration of the program)

Certifications:

Category:

Investment Professionals

Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.

Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.