2025 Masters Summer Internship - Portfolio Risk Manager - PIMCO

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.

Internship positions are located at PIMCO's Newport Beach, CA Headquarters

Requirements:

• Pursuing a Quantitative Master's degree (financial engineering or other technically demanding program such as theoretical physics or math)
• Must be able to begin full time employment from a PIMCO office between January 2026 - August 2026
• Must be enrolled at a university during the Fall 2025 semester (August 2025 - December 2025)
• 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)

The Risk Management 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.

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

The PIMCO Internship Experience:

• The PIMCO Internship Program runs between Monday, June 9 - Friday, August 15, 2025 with the expectation that you will be available for the full duration of the program
• During Week 1, you'll participate in PIMCO Fundamentals Training, providing you with the skills, knowledge, and relationships that will prepare you for success
• Alongside your colleagues, participate in PIMCO's Global Month of Volunteering , developed to heighten the impact of our employees' worldwide volunteer efforts
• Join us for a variety of cross-divisional education, networking & social events!
• Your supervisor, peer mentor, senior leaders and team offer guidance and mentorship throughout the summer
• You'll receive feedback at mid- and end-of-summer as part of a formal review process to keep you on the path to meeting your summer goals
• Want to learn more? Hear about The PIMCO Internship Experience from past interns
• As a PIMCO intern, you'll receive competitive compensation, along with a transition bonus to help with relocation to one of our office locations

What to expect during the interview process:

• After we receive your application, we'll conduct an initial resume review
• If selected to move forward, you'll showcase your interests, skills, and personality by completing a one-way video interview
• Following the video interview and if selected to move forward, you'll meet with us during final-round interviews conducted live via video conference. Interviews typically consist of behavioral and technical concepts.

PIMCO is an equal opportunity employer committed to creating an inclusive, cognitively diverse environment.

For more information on PIMCO and Career Opportunities, please visit

PIMCO follows a total compensation approach when rewarding employees which includes a base salary and a discretionary bonus. Base salary is the fixed component of compensation that is determined by core job responsibilities, relevant experience, internal level, and market factors. The discretionary bonus is used to award performance and therefore is determined by company, business, team, and individual performance.

Salary: $ 165,000.00

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 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.