IMD Student Intern - Public Markets

About the role

The Investment Management Division (IMD) is seeking a Student Intern – Public Markets to perform entry-level investment research and analysis work. The incumbent will assist investment staff with investment-related research and analysis and perform special projects, with a primary focus on gaining practical work experience. This position will proactively work with the Public Markets team and IMD staff.

Note: This position is a paid, full-time, limited term assignment that offers interns the opportunity to gain substantive hands-on experience. Interns enjoy the opportunity to get training and mentoring from experienced professionals in one or more areas. The Intern position is scheduled for 10 weeks from June to August 2027. We require that all IMD interns live in Austin, Texas for the duration of their internship.

Responsibilities

The Student Intern – Public Markets will:

• Assist in performing fundamental and statistical investment analysis for potential investment opportunities, including investment computations (i.e., returns, valuation multiples, correlations, volatility analysis, attribution analysis, etc.), using any reliable printed or electronic media, and contact with external managers.
• Assist investment managers in conducting quantitative investment research.
• Assist in conducting investment research on various companies, industries, or countries.
• Assist investment managers in performing due diligence research and analysis for potential investment opportunities.
• Conduct projects with support from Public Markets team in the following areas: internal global equity portfolios, both quantitative and discretionary fundamental; external manager global equity and hedge fund portfolios; credit and special situation portfolios.
• Participate in group projects as assigned.
• Consult or coordinate with investment managers, analysts, investment accounting, legal counsel, custodian, and third-party advisors and consultants.
• Provide timely written or oral reports of analysis and recommendations to investments staff and management.
• Ensure that the agency Ethics Policy is adhered to in relationships with general partners, external managers, brokers, research suppliers, and other vendors.
• Perform related work as assigned.

Requirements

The ideal candidate must meet one of the following criteria:

• Currently enrolled in and actively attending an accredited college or university as an undergraduate student with a declared major in business administration, finance, accounting, operations research, math, information technology, liberal arts or a related area. Must complete their junior year (90 hours) by the start of the internship. This includes candidates considering a 5-year master's program.
• Currently enrolled in and actively attending a graduate program in finance, accounting, business administration, or closely related area.

Additional requirements include:

• GPA at or above 3.25.
• Applicant will be required to submit a copy of official college transcripts.

Preferred Qualifications

Preferred qualifications include:

• Experience or education in institutional investment research, accounting, financial analysis, statistical analysis or a related field.
• Familiarity with basic coding in Python or similar language.

Skills

The ideal candidate will have:

• Knowledge of investment concepts, terminology, styles, models, strategies, and fundamental investment factors.
• Knowledge of statistical concepts, methods, and models, and their application to investments.
• Skills in using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts, and reports.
• Ability to conduct data searches and evaluations of large amounts of information, perform complex statistical analysis of the data, and prepare concise and accurate reports and written/oral recommendations.
• Ability to plan, organize, and prioritize work assignments to manage a high-volume workload in a fast-paced and changing environment, and in completing detailed work with a high degree of accuracy.
• Verbal and written communication of complex information that is accurate, timely, and based on sound judgment.
• Ability to establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts.
• Ability to work effectively in a professional team environment.

Compensation

Salary will be dependent upon education level:

• Undergraduate Student (Senior) - $43.27/hour
• 5 Year Master’s Student - $46.30/hour