Structured Solutions and Nonlinear ETFs Intern, Winter 2027 (Co-op/Internship) - 4 months

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As a co-op/intern student at BMO, you will have the opportunity to be heard, keep growing and make a difference. You will be part of our campus program to gain the skills and knowledge needed to take on roles similar to the description listed below.

Our student experience is designed to integrate you to the BMO team from day one by adding value in the work you do. You will have the opportunity to participate in programs such as the Women in Banking Mentorship Program, BMO Social Squad student-led activities, BMO Academy learning platform and access to various Employee Resource Groups to further develop your network within BMO.

Interested in learning more about our campus program? Stay up-to-date with BMO Campus Recruitment by following us on Instagram @bmocanada | @bmo_us and joining our LinkedIn group BMO Campus Recruiting & Early Talent.

Note: Only students currently enrolled in an academic program and returning to their studies will be considered for Co-op/Internship opportunities. Student who recently graduated are invited to apply to our New Grad opportunities which are available athttps://jobs.bmo.com/ca/en/new-grad

To apply for this opportunity, please submit your cover letter, resume and an unofficial copy of your academic transcript. By applying for this general posting, you will be considered for a number of different student opportunities across multiple locations. If you are selected to move forward, you will be provided additional information.

About the Team

The Structured Solutions & Non-Linear ETFs team develops and manages innovative investment strategies that utilize derivatives, structured products, quantitative models, and ETFs. The team is responsible for designing, pricing, executing, and monitoring portfolios that incorporate options, structured notes, volatility strategies, and non-linear payoff profiles. The group works at the intersection of portfolio management, quantitative research, derivatives structuring, and technology, using advanced analytical tools to develop investment solutions for clients.

Position Overview

We are seeking a highly quantitative and technically skilled intern to join our Structured Solutions & Non-Linear ETFs team. This role is ideal for students with strong backgrounds in mathematics, engineering, computer science, financial engineering, statistics, or quantitative finance who are interested in applying analytical and programming skills to real-world investment problems.

The successful candidate will work directly with Portfolio Managers and Quantitative Researchers on projects involving derivatives pricing, Monte Carlo simulations, portfolio analytics, risk management, ETF research, and investment technology development.

This is a hands-on role where interns will contribute to production-level analysis and tools used in the management of multi-billion-dollar investment portfolios.

Key Responsibilities

Quantitative Research & Model Development

• Develop and enhance quantitative models used in portfolio construction and security selection.
• Perform Monte Carlo simulations for structured notes, options, and path-dependent investment strategies.
• Analyze return distributions, downside risk, volatility dynamics, and probability-weighted investment outcomes.
• Research factor-based investment strategies and systematic portfolio construction techniques.
• Conduct backtesting and historical scenario analysis for investment strategies.

Derivatives & Structured Products Analytics

• Assist in pricing and valuation of structured products and derivative portfolios.
• Analyze option sensitivities including delta, gamma, vega, theta, and rho.
• Evaluate risk-return tradeoffs of autocallables, buffered products, covered call strategies, and other non-linear investment structures.
• Build tools to monitor portfolio greeks, profit-and-loss attribution, and risk exposures.
• Support the modelling of structured note cash flows and payoff mechanics.

Software Development & Automation

• Develop analytical tools using Python, SQL, and VBA.
• Build and maintain databases used for portfolio management and investment analytics.
• Automate portfolio reporting, risk monitoring, and investment workflows.
• Design data pipelines that integrate market data, portfolio holdings, and risk analytics.
• Improve the efficiency and scalability of existing investment processes.

Portfolio Management Support

• Monitor portfolio exposures and performance drivers.
• Analyze market events and assess potential impacts on derivative positions.
• Assist with investment research on equities, ETFs, volatility markets, and structured products.
• Prepare analyses for portfolio reviews and investment committee discussions.

Qualifications

Required

• Pursuing a degree in:
  • Engineering
  • Applied Mathematics
  • Statistics
  • Computer Science
  • Physics
  • Financial Engineering
  • Quantitative Finance
  • Mathematical Finance
  • Or a related quantitative discipline
• Strong programming skills in Python.
• Strong understanding of probability, statistics, and numerical methods.
• Advanced Excel skills.
• Excellent analytical and problem-solving abilities.
• Ability to work with large datasets and complex financial models.

Preferred

• Experience with Monte Carlo simulation methodologies.
• Knowledge of derivatives pricing and option theory.
• Experience with SQL and database development.
• VBA programming experience.
• Familiarity with object-oriented programming concepts.
• Exposure to financial markets, portfolio management, or quantitative investing.
• Experience with Bloomberg, FactSet, or other financial data platforms.
• Coursework in stochastic processes, numerical methods, optimization, derivatives, or machine learning.

What You'll Learn

During the internship, you will gain practical experience in:

• Options and derivatives pricing
• Monte Carlo simulations
• Quantitative portfolio management
• ETF strategy development
• Structured products and autocallables
• Risk management and portfolio analytics
• Financial software development
• Database design and automation
• Real-world applications of probability, statistics, and numerical methods

You will work alongside portfolio managers and quantitative professionals, contributing directly to investment decisions and analytical tools used within the team.

Ideal Candidate

We are looking for someone who genuinely enjoys solving difficult quantitative problems. The ideal candidate is the type of person who has built models, written code for personal projects or coursework, enjoys mathematics and programming, and wants to apply those skills to financial markets. Curiosity, intellectual rigor, and a willingness to learn are more important than prior asset management experience.

Salary:

Pay Type:

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en.

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.