Job Description

About the programme:

The Deutsche Bank Internship Programme is designed to help you develop your skills through formal training and continuous support. You'll quickly gain the confidence to take on real projects by learning first-hand how and what we deliver for clients worldwide. You'll feel supported by colleagues from across our business and start to develop your professional network.

About the Division:

GSA owns and develops many cutting-edge quantitative analytics and projects. GSA started with delivering pricing and risk solutions to Sales & Trading and the majority of GSA internship topics have been around Fixed Income and Currencies (FIC) activities.

The following teams are offering roles:

DB Analytics is the front office cross-asset quant team in charge of the research and development of Deutsche Bank's pricing models. The DB Analytics library is the inner mathematical layer of every DB pricing and risk management system, and it is used to price every cash and derivative transaction in rates, inflation, credit, foreign exchange, commodities, mortgages and hybrids.

You should expect a challenging derivatives modeling project that includes numerical implementation and analysis. You will work under the supervision of a senior team member who covers a business area e.g. interest rate exotic options.

The team puts the heaviest emphasis on stochastic calculus. You'll need strong quantitative skills to read and analyse mathematically challenging research papers and will be required to develop an intuition on complex concepts. Solid programming skills will be needed to implement a modeling prototype in C++.

Rates Desk Strats - you will use mathematical modelling and programming to help the business drive revenue through advanced risk management analytics, market data build-out, and process automation. In this collaborative role, you will partner with a wide variety of stakeholders - including Trading, Sales, Structuring, Market Risk, Technology, and Operations - while delivering a dedicated project for one of our Rates desks (spanning Linear Swaps, European Government Bonds, Non-Linear Rates, Commodities, Inflation, Hybrids & Exotics, or Quantitative Investment Strategies). To succeed, you should demonstrate strong quantitative and programming skills, a natural curiosity for financial markets, and excellent communication and collaboration abilities.

You need strong quantitative & programming skills, a natural curiosity for financial markets, and excellent communication and collaboration abilities.

Credit Desk Strats - you will work in a front-office, desk-aligned quantitative team supporting Deutsche Bank's Credit Trading businesses. The role involves partnering with Trading, Structuring, Technology, Operations, and other analytics teams to solve pricing, risk, P&L, data, workflow, and platform challenges across Credit Flow, Credit Solutions, Structured Credit, Securitized Credit, Whole Loans, Distressed and related activities. Projects may include pricing and risk analytics, intraday P&L and risk tools, trader / sales / client analytics, portfolio trading automation, data-quality improvements, AI-enabled analytics, and migration to strategic platforms such as Kannon, e-Risk, IRIS, TradeGate, IMC, and SPR. You should bring strong quantitative and programming skills, attention to detail, product curiosity, and the ability to communicate effectively with trading-desk stakeholders.

The team requires strong quantitative & programming skills with great attention to detail. A good understanding of financial products will give you an edge. Motivation and communication are a must as collaboration & partnership with the business is key to adopt new solutions.

CB & PB Strats - is responsible for all quantitative and analytical work for Corporate Bank and Private Bank divisions. This includes pricing, funding, liquidity management, IR risk calculation and hedging, profitability measurement, capital optimization, and SVA. We build and roll out Kannon (our front office risk and pricing platform) to these divisions to support these functionalities. We work closely with Cash Management, Trade Finance and Lending, Strategic Corporate Lending in CB as well as both Wealth Management and Retail business in Private Bank. We partner with Treasury and Treasury Strats on several initiatives.

Treasury Strategic Analytics supports the Treasury function in the bank and supports desks such as Pool Trading, Asset & Liability Management, Liquidity Management, Issuance, Liquidity Reserve Management, Capital Management. This involves developing solutions for Pre-trade Pricing/Execution/Governance, Post-Trade Risk/PL calculation, Treasury Markets management and Hedge accounting. In terms of products, this implies working with a range of money market products to fund the balance sheet, derivatives to hedge interest and FX risk as well as investment products that are either issued by the bank or held as reserves. The team also delivers solutions for bank-wide regulatory responsibilities such as Regulatory Liquidity Ratio monitoring and Net Interest Income reporting.

You will develop a good understanding of how Treasury works by interacting with Traders and Risk/Finance managers and come up with novel approaches to solve problems. Projects could involve developing new pricing or quoting mechanisms, more efficient algorithms to measure and optimally hedge the bank's risk, automation of manual tasks with AI/ML etc.

Client and Control Strats is responsible for developing and implementing models, data capabilities, platforms and processes that address revenue and cost optimisation, capital efficiency and control effectiveness. The team develops behavioural models that monitor clients and traders by analysing transactions, relationship networks and changes over time, helping to identify activity that deviates from expected profiles or may indicate fraud, money laundering, sanctions evasion or other forms of financial crime.

You will test innovative algorithms and feature designs that enhance the detection of unusual client or trader behaviours. This may include applying AI/ML techniques, particularly in graph analytics, entity recognition and anomaly detection. The role will require you to understand the risks these models are designed to address, as well as the profiles and activities of our traders and clients.

The internship will start between May and June 2027 and have a duration of 18 weeks.

What we look for:

You must be studying a post-graduate specialist degree (MSc or PhD) in a quantitative subject such as mathematics, engineering, physics, economics or finance

A good understanding of the associated products along with a good mathematical background to understand pricing/risk/PL. Good exposure to C++ and Python coding.

You already have outstanding academic achievements and are eager to continue learning at the same intensive rate. You'll thrive on working in a highly collaborative environment with some of the best minds in banking.

Note - to progress onto the final stage assessment, applicants will need to attend an in-person technical test on a specified date and location, which is not flexible. Details will be shared to the successful shortlisted candidates.

To be eligible for the 2027 UK Quant Internship programme you must:

Complete your studies between 1st May 2026 and 30th November 2027. As the programme is due to start between May 2027 and June 2027, this means you may still be studying when you join the programme. In this case you are still eligible to join provided you have completed all of your exams before your start date and must complete your studies (any remaining coursework and have no outstanding requirements for graduation) by 30th November 2027.

Have already achieved a 2:1 or First (or equivalent) in your undergraduate degree and be on track for or have already achieved a pass/merit/distinction (or equivalent) in your post graduate degree either before you join, or by 30th November 2027.

Study a postgraduate degree (MSc or PhD) in a quantitative discipline such as mathematics, engineering, physics, computer science, economics, or finance

Possess no more than 12 months full-time, relevant work experience.

Benefits and wellbeing:

Feeling healthy, engaged and well-supported, enables us to do our best work and get the most out of life outside of the office. That's why Deutsche Bank is committed to providing benefits and programmes centred around wellbeing. Benefits & Wellbeing - Deutsche Bank Careers (db.com)

About us and our teams:

Visit This is DB to discover more about the culture of Deutsche Bank including Diversity, Equity & Inclusion, Leadership, Learning, Future of Work and more besides.

How to apply:

Whether you're fresh out of school or already have some experience, you'll find a wealth of helpful tools and information on our Employability Hub that will support you with your application, prepare for the assessment processes and adapt to a new working environment.

Please visit https://careers.db.com/students-graduates/#/graduate/ to apply.

Please note you may only make ONE application per recruitment season in the UK. If you make multiple applications with multiple
profiles
you may be removed from the recruitment process.
The application deadline for this role is 30th October 2026 at 11:59PM GMT.

Please note we hire on a rolling basis, and we may close the role prior to the deadline if we receive a significant number of applications. If the role is due to close early, the deadline will be updated 48 hours in advance. Please apply early to ensure your application is considered.

If you are interested in applying to other divisions/roles, please click here and then the United Kingdom tab to view the application opening dates and deadlines.

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