About This Role
BlackRock is one of the world’s preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary, and individual investors around the world. BlackRock’s mission is to create a better financial future for our clients. We have a responsibility to be the voice of the investor, and we represent each client fairly and equally. Constant communication with a diverse team of partners strengthens us and delivers better results for our clients. Continuous innovation helps us bring the best of BlackRock to our clients.
BlackRock offers a range of solutions — from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.
About Aladdin Financial Engineering (AFE)
Join a diverse and collaborative team of over 400 modelers and technologists in Aladdin Financial Engineering (AFE) within BlackRock Solutions, the business responsible for the research and development of Aladdin’s financial models. This group is also accountable for analytics production, enhancing the infrastructure platform, and delivering analytics content to portfolio and risk management professionals (both within BlackRock and across the Aladdin client community).
The models developed and supported by AFE span a wide array of financial products covering equities, fixed income, commodities, derivatives, and private markets. AFE provides investment insights that range from an analysis of cash flows on a single bond, to the overall financial risk associated with an entire portfolio, balance sheet, or enterprise
Role Overview
We are looking to hire a senior to join our Portfolio Risk Modeling team to drive the development of portfolio risk models for private market investments. This team builds and maintains risk models and analytics, including linear factor models, Value-at-Risk (VaR) methodologies, volatility and covariance matrix estimation, and portfolio stress testing & scenario analytics. These models span a wide variety of asset classes including fixed income, equity, and private markets. The models utilize sophisticated econometric/statistical methods, and are used by traders, portfolio managers and risk managers at BlackRock and Aladdin clients for risk management, portfolio construction, regulatory reporting, compliance and performance attribution.
This individual would have a strong background in quantitative research, have demonstrable project management skills as well as proven experience to work in a team environment as well as collaborating with senior modelers from other groups/regions. This person is expected to join as an individual contributing to the design and development of our private market risk models, particularly in the private debt (i.e., real estate debt, infrastructure debt) space
Key Responsibilities
- Conduct empirical research to calibrate new models to financial data
- Backtesting, documenting, and guiding new models and methodologies through validation
- Partner with engineering teams to migrate private markets models onto state-of-art production systems
- Build and maintain model governance controls, including (but not limited to) model performance monitoring, model documentation, model remediations and supporting internal & external client model validations
- Communicate (verbally and in writing) with internal stakeholders and external clients on the design, backtesting, and usage of the models. Discuss model performance regularly, investigate exceptional model performance, diagnose issues and conduct corrective remediations
Qualifications
- 5-8 years of experience in quantitative field / statistical modeling. Experience with one or more of the following is preferred: portfolio risk factor models and analytics, private markets investments, domain knowledge about fixed income securities. We will also consider candidates who hold PhD or master’s in financial engineering degree, candidates with 3+ years of experience.
- Master’s or PhD degree in a quantitative discipline or one that relates to application of quantitative techniques in finance (financial engineering, math finance, etc.)
- A strong background in data-driven quantitative research, econometrics, and empirical asset pricing
- Hands-on experience with statistical modeling through software (e.g., Python, R) and strong background in programming. Proficiency with Python is required
- Experience with data handling (ETL, data joining with SQL, cleaning, processing, summarizing, descriptive analysis), and building and back-testing statistical and econometric models
- Experience with eFront and/or Preqin is not required but strongly preferred
- Knowledge of investments, portfolio management is not required but preferred
- Experience with any version control system (e.g., git) is strongly preferred
- Prior work experience in financial modeling (e.g., risk models, analytics, private markets) or data science and model deployment to production environment is a plus
- Ability to work effectively with a team of highly motivated individuals
- Time and project management skills
- Proven track record of guiding junior talent
- Positive attitude and ability to work both independently and as a part of a global team in a fast-paced environment
- Excellent communication and presentation skills
- Resourcefulness and strong problem-solving skills even in the face of constraints, limited options, or uncertainties
Our Benefits
To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
Our hybrid work model
BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.
