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Type of Role: Investments

Experience Level: Intern - Graduate

Location: Boston, Massachusetts

Salary: $110K - $110K

NEPC, LLC is an employee-owned, full-service investment consulting firm based in Boston, Massachusetts. NEPC was founded in 1986 and now has approximately 370 employees and over 425 clients.  We provide a variety of consulting services such as asset allocation, performance measurement, policy formulation, investment manager research, and discretionary portfolio management. NEPC is a strong advocate of promotion from within, so excellent potential exists for professional growth.

BOSTON or CHICAGO or ATLANTA

Description

Internship Description:

NEPC is seeking two (2) summer interns preferably hybrid in our Boston, Chicago or Atlanta office (or virtually) who are currently pursuing their MBA or master’s degree preferably in Finance or Economics. Project assignments are available various teams across the firm including Operational Due Diligence, Portfolio Construction, and Investment Consulting.

Upon successful completion of the internship, interns may be invited back to participate in a Sr. Investment Associate Rotational Program lasting up to 2 years post-graduation. This is a program that NEPC has designed specifically to attract diverse candidates and give them broad exposure to different areas of the firm and different asset classes. Associates will cycle through different departments to gain exposure and experience. Successful Sr. Investment Associates will be placed in a permanent assignment within the firm over a 12–24-month cycle.

Level: Student working towards an MBA or Master’s Degree

Duration: Summer of 2024

Location:  We are open to hybrid or remote work in any state where we are registered.  This includes North Carolina, San Francisco, California, Connecticut, Denver, Colorado, Florida, Georgia, Illinois, Massachusetts, Michigan, Nevada, Ohio, Oregon, Texas and Washington, D.C.  There may be some limitations based on your town or county.  Please provide your address/location on your resume.

Internship Requirements:

We are seeking candidates who have already had some exposure to the investment industry either through a permanent position or prior internships. The ideal candidate should have a strong analytical skillset, excellent written and verbal communication skills and a working knowledge of Microsoft Office (Excel, Word, PowerPoint), close attention to detail and a willingness to learn. The candidate should be working toward an MBA or master’s degree ideally majoring in Finance or Economics.

Assignment Summaries:

Portfolio Construction (Project 1)

This project will focus on writing code that will enable more cross collaboration between the Portfolio Construction (PCT) and Asset Allocation (AA) teams. The intern will work to build a software tool, utilizing coding in R, that will allow us to pull our asset allocation capital markets slides and insert them into client ready presentations. This will be building on top of existing R Based tools that the PCT and AA teams have already built.

The ability to program and develop in R is a must have. Some experience in software development a plus as well as having comfortability working in an Agile/Scrum environment. It is not necessary to understand capital markets, much of this will be learned while working on this project. It would be a great fit for somebody with coding skills in R that wants to learn more about capital markets and investing as a whole, while working alongside  in-house and outsourced development team.

This internship provides a great learning opportunity around the mechanics of Portfolio Construction.  The intern will also have access to investment manager meetings with an opportunity to get educated on various asset classes.

Operations Due Diligence (Project 2)

This project work be working closely with the Operational Due Diligence (ODD) team to understand how our current investment framework works and come up with an ODD equivalent that we could use for hedge funds and potentially private markets funds. The investment manager research teams have all begun using investment frameworks to help them rate investment managers. This has created a much more uniform and repeatable process that is easy to utilize for the team. As of now the ODD team does not have a system like this in place and due resulting in reports with varying levels of information and completeness.

The internship will provide an ODD learning opportunity, including attending meetings onsite or virtually, understanding the ODD process, and the different risks and red flags. The key deliverable for this project is the creation of a framework that could be tested with ODD reviews. The desired outcome would be a more uniform process to make rating funds faster and more efficient.

A successful intern must have strong attention to detail and a basic understanding for how hedge funds or private market funds operate. The intern will have to have proficiency in Excel to create a rating matrix, and to be able to learn how the current framework processes data.

This intern will learn how NEPC conducts operational due diligence on investment managers and why. They will also learn how investment due diligence teams and operational due diligence teams operate together. They will be able to understand how investment frameworks process information to come to actionable conclusions for recommending investments and how to build a similar framework for operational due diligence.

NEPC is an Affirmative Action/Equal Opportunity Employer  (December 2023)