PIMCO is a global leader in active fixed income. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 50+ years since, we have worked relentlessly to help millions of investors pursue their objectives – regardless of shifting marketing conditions. As active investors, our goal is not just to find opportunities, but to create them. To this end, we remain firmly committed to the pursuit of our mission: delivering superior investment returns, solutions, and service to our clients.

Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients.

The PIMCO Intern Experience

The PIMCO internship experience is a 10-week program designed to provide you with foundational knowledge and professional skills all while building a powerful network of colleagues. You will participate in PIMCO Fundamentals Training in your first week along with ongoing training aimed at giving you firsthand experience of day-to-day life at PIMCO. Additionally you will have the opportunity to participate PIMCO's Global Month of Volunteering, developed to heighten the impact of our employees' worldwide volunteer efforts along with a variety of cross-divisional education, networking & social events!

As a PIMCO intern, you will receive competitive compensation, along with a transition bonus to help with relocation to one of our office locations. The PIMCO internship experience directly serves as the main pipeline for our full-time campus and early careers opportunities. 

Our goal is to authentically share the PIMCO experience with all of our interns and empower them contribute to the impact we make for not only our clients but our colleagues as well. To learn more, hear about The PIMCO Internship Experience from past interns & search for live virtual recruiting events!

PORTFOLIO MANAGEMENT

Interns in this area will have two rotations across our Analytics, Quantitative Strategies and Risk Management.

Analytics: The team works closely with Portfolio Management in providing quantitative input to PIMCO’s investment process by developing models for alpha generation as well as managing risk. The group partners with both discretionary and quantitative portfolio managers across all asset classes.  Members of the team work either as experts in individual markets such as e.g. credit, rates, or mortgages, or one of the more cross-market roles such as e.g. asset allocation, portfolio construction, or execution. Technical tasks include performing econometric analyses of historic returns, building empirical and risk-neutral valuation models, applying macroeconomic research, or analyzing large sets of transaction data with a view to improving trade execution.

Quantitative Strategies: The team focuses on the development and implementation of quantitative trading strategies.  In managing the implementation of various strategies, tasks includes generating trades by running code or spreadsheet, sending those trades to specialist desks for execution, making sure trades are allocated appropriately, verifying theoretical model positions with actual portfolio holdings, and looking at actual realized returns vs theoretical expectations. Team members perform research and backtest different trading strategies across various asset classes and test improvements for existing strategies.  This involves working with specialist PMs in order to understand how market trades and building strategies to systematically capitalize on inefficiencies in addition to more exploratory work of looking for inefficiencies using statistical or other approaches. The group assists in the portfolio construction process and vetting of future strategies. 

Risk Management: The team works across Portfolio Management to ensure that portfolio risk exposure is consistent with the firm’s economic outlook, the intended risk-return profile of each mandate, and the philosophy and preservation of our client’s capital. Risk managers review portfolio composition and concentrations, and manage associated risk by analyzing and identifying risk issues in the form of market risk (including counterparty risk) and initiating change where necessary through dialogue with other portfolio managers. Interns will work to develop analysis/reporting tools in Excel, VBA and by accessing databases (SQL), conduct reviews of historical and current performance and dispersion in the portfolios to identify market trends and perform detailed portfolio reviews, including reviews of trade types, layering, and analysis of line items. The team also supports client facing account and product managers on risk-related questions and attend client meetings to present PIMCO’s approach to risk management.

CAREER DEVELOPMENT, TRAINING AND MENTORING

Every intern begins their summer with a formal week of training. The PIMCO Fundamentals training program will provide you with the skills, knowledge and relationships that will prepare you to succeed in your internship.Your informal training will continue throughout the summer at PIMCO - everyday, in a perpetual learning environment.In addition, you will be teamed with a seasoned professional who offers guidance and mentorship throughout the internship.

REQUIREMENTS:

• Quantitative Master’s degree (financial engineering or other technically demanding program such as theoretical physics or math) with an expected graduation date of December 2023 -June 2024

• Bachelor’s degree focus in Finance, Economics, or other technical degree is preferred.

• Minimum 3.2 cumulative collegiate grade point average, on a 4.0 scale or the equivalent, at an accredited 4-year college or university

• Fluent in English (speaking, reading, writing)

POSITIONS ARE LOCATED IN NEWPORT BEACH, CA.

DESIRED CANDIDATES SHOULD POSSESS THE FOLLOWING SKILLS AND CHARACTERISTICS:

• Interest & background in finance theory, especially portfolio theory, asset allocation techniques, option pricing, and asset pricing.

• Programming skills and numerical problem solving techniques; training & experience with Python, Matlab, SAS, C++, or other related language. SQL knowledge preferred.

• Formal training in Econometrics is desired, particularly time series econometrics such as vector auto regression, error correction models, Kalman filtering techniques, etc.

• Comfortable working with large data sets, both structured & unstructured

• Good exposure to & knowledge of financial markets

• Ethical, intellectually curious, collaborative, organized, flexible, high energy, self-starter, accountable, humble

HOW TO APPLY

• There is not deadline to apply but we are reviewing and filling roles on a rolling basis. Please submit resume as soon as possible.

Equal Employment Opportunity and Affirmative Action Statement

PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other basis such as medical condition, or marital status under applicable laws.

Applicants with Disabilities

PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.

PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients.