AI Initiatives Intern

Job Description

Here is the detailed enriched job description:

About StepStone

StepStone is a global private markets specialist, providing tailored investment solutions, advisory services, and impactful, data-driven insights to investors worldwide. Leveraging a powerful platform and peerless intelligence across sectors, strategies, and geographies, StepStone helps clients identify advantages and find the answers needed for success.

Job Title: AI Initiatives Intern

Application Deadline: January 30, 2026

The Team You’ll Join

StepStone’s AI Initiatives team is at the forefront of transforming private markets investment research by harnessing AI and machine learning. This dynamic team manages the entire AI project lifecycle, from identifying high-impact use cases to deploying production-ready solutions. They integrate cutting-edge technologies, including LLMs, NLP, and advanced quantitative methods, to drive strategic outcomes across portfolio analysis, investment performance, and risk assessment.

About The Role

StepStone is seeking highly analytical and technically skilled interns to join the AI Initiatives team. This role is ideal for candidates with strong coding expertise, advanced quantitative skills, and a keen interest in applying AI/LLMs to financial markets. Interns will contribute to research-driven projects, model development, and large-scale data analysis.

The team values players with a collaborative mindset and a strong work ethic. Successful candidates will take ownership of their work, remain open to feedback, be eager to learn, and committed to collective success. A low-ego, problem-solving approach is essential.

What You’ll Do & Key Responsibilities

Interns will play a hands-on role in developing and optimizing AI/ML solutions to enhance investment research and portfolio analytics. This involves working with large financial datasets and applying quantitative modeling techniques to support investment performance analysis and risk assessment across StepStone’s private markets portfolio. Key responsibilities include:

• AI/ML Solutions Development: Develop and optimize AI/ML solutions, including LLM applications, data extraction pipelines, and retrieval systems.
• Financial Modeling: Develop and optimize financial models using Python, R, or VBA.
• Advanced AI/ML Techniques: Apply AI/ML techniques such as metadata extraction, vector length optimization, and retrieval optimization to enhance investment research.
• Data Analysis & Statistical Modeling: Analyze large financial datasets and apply statistical modeling techniques to identify market trends.
• Quantitative Research Support: Support quantitative research on investment performance, risk analysis, and portfolio construction.
• Documentation & Communication: Document technical findings and effectively communicate insights to internal teams.

What We’re Looking For

• Education: Currently pursuing a Ph.D. in Mathematics, Physics, Econometrics, Statistics, Engineering, or a related quantitative field.
• Coding Expertise: Strong coding experience (Python, R, VBA) with demonstrated ability to work with large datasets.
• AI/ML Experience: Experience or coursework in AI/ML (LLMs, NLP, data retrieval, vector embeddings) is highly preferred.
• Problem-Solving Skills: Strong problem-solving skills with a detail-oriented, hands-on approach to work.
• Collaboration & Adaptability: Team-oriented and adaptable, capable of balancing independent work with collaborative projects.
• Intellectual Curiosity: Open to feedback and continuous improvement, with strong intellectual curiosity.
• Technical Plus: Knowledge of SQL, Power BI, or cloud computing is a plus.
• Work Ethic: Willingness to contribute at all levels, from complex modeling to data preparation.

Location & Work Arrangement

This position is open for immediate hire. Interns will start working remotely but will be required to relocate to our La Jolla office by June 1, 2026, for in-person work.

Compensation

Salary: $30 – $35 per hour (estimate; actual pay may vary based on job-related factors like location, education, skills, and experience. Benefits and other forms of compensation are not included in this estimate).

Why Join StepStone?

At StepStone, you’ll find a supportive and inclusive team culture where collaboration and learning are paramount. Our collegial atmosphere fosters teamwork, mentorship, and professional development. This internship offers a valuable opportunity to gain practical experience and develop critical skills crucial for a successful career in private markets.

Diversity, Equity & Inclusion (DEI)

StepStone believes its people are its most important asset and crucial to its success. As an Equal Opportunity Employer, StepStone strives to create an environment that empowers all employees, regardless of title or tenure, and encourages them to be heard. The organization features multiple Employment Resource Groups and mentorship programs to enhance the employee experience. StepStone does not discriminate on the basis of race, creed, color, religion, sex, national origin, citizenship status, age, disability, marital status, sexual orientation, gender identity, gender expression, genetic information, or any other characteristic protected by law.

Candidates must be at least 18 years old to apply.