Model Risk Management Governance, RQA, Associate

About this role

The mission of the Risk and Quantitative Analysis (RQA) function is to help BlackRock manage its fiduciary and enterprise risks and provide independent oversight. While executing this mission, RQA provides quantitative analysis to many of BlackRock’s businesses and helps promote the spread of best practice across the firm.

The Enterprise Risk team within RQA oversees those risks which directly impact the corporate entity (i.e. BlackRock, Inc., or one of its subsidiaries), rather than the fiduciary risks assumed by funds/clients, such as investment risks and counterparty risks. The team’s focus includes but is not limited to operational risk, technology, vendor, model and market risk, stress testing for market risk and the quantitative estimation of capital adequacy requirements.

The enterprise risk function remains closely engaged with the evolving regulatory environment and supervisory expectations, to ensure that BlackRock’s internal risk and control frameworks remain consistent with these, and to co-ordinate regulatory initiatives from an RQA perspective (for example, capital and liquidity assessments).

The Global Model Risk Management function within Enterprise Risk team is responsible for developing the firm-wide Model Risk Management framework and the implementation of the framework across the firm. Key responsibilities of the team include performing independent review of model risk related activities across the firm, working with the model owners and proving oversight and assessment of their model risk procedures to ensure that they are comprehensive, rigorous and effective and follow the firm-wide and regulatory requirements.

Key Responsibilities:

• Assist with the implementation of the firm-wide Model Risk Management Policy.

• Support the execution of governance activities including activities covered by relevant sub-committees of the Enterprise Risk Committee (ERC).

• Drive operational efficiency through process improvements or automation (i.e. tracking risk metrics, issues, performance issues, errors, internal audit findings and any issues raised by regulators, managing incidents and risk & control issues.

• Promote the development and implementation of the model risk management activities in the model risk management system in compliance with the Policies and regulatory guidelines.

• Prepare report on the status of Model risk to the appropriate risk management oversight committees on a periodic basis and as required.

• Responding to Model related inquiries from regulators or auditors.

Knowledge/Experience/ Competencies:

• With 3-5 years’ works experience in the financial industry.

• Undergraduate/ Master’s in Computer Science, Mathematics, Finance, Financial Engineering or Operations Management.

• Excellent communication, negotiation and problem-solving skills

• Ability to draft governance documents and committee materials with clarity and precision

• Experience in quantitative Model reviews or process improvements, change management or project lifecycle management

• Strong interpersonal and organizational skills and attention to details.

• Ability to work independently and manage multiple priorities simultaneously and can prioritize and escalate as appropriate

• Programming experience in one or more environments such as R, Python and SQL

  • Proficiency in process improvement frameworks like Six Sigma is a plus

  • Experience in agile project management & tools which include facilitating daily stand-ups, sprint planning and retrospectives is also a plus

• Proven experience working on M365 tools (specifically Excel & PowerPoint) and platform such as Power Automate, Power BI and Copilot Studio.

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents 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, family status, gender identity, race, religion, sex, sexual orientation and other protected attributes at law.