Portfolio Modeling, Associate

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.

The Portfolio Simulation Research team:

This team specifically is building out a new engine for the joint simulation of the global macro economy, drivers of financial markets, and individual assets. The team is building and connecting innovative models and methodologies across these spaces in a Bayesian framework. The engine is used in scenario analysis and portfolio construction / strategic asset allocation.

Key Responsibilities:
•    Doing theoretical research to come up with new, or find existing models and methodologies in the pricing and risk space, across multiple asset classes including private assets.
•    Doing empirical research to calibrate new models to financial data.
•    Backtesting, documenting, and guiding new models and methodologies through validation.

•    Implementing and maintaining production codebase. Owning the model and managing the use cases in front of stakeholders.
•    Communicate with internal and external clients to identify industry-wide quantitative problems and collaborate with academics affiliated with BlackRock to explore solutions.

•    Collaborate on papers for publication, presenting original research at industry conferences, and speaking with institutional clients about relevant research. 

•    Additional team responsibilities may include working with portfolio management teams on bespoke projects supporting their investment processes or working with financial advisory teams on modeling projects for bespoke products. 

Qualifications:
•    PhD in Mathematics, Statistics/Econometrics, Science, Economics or other relevant quantitative disciplines.
•    Hands-on experience with frequentist and/or Bayesian statistics in time-series analysis.
•    Experience with machine learning such as neural networks. Understanding the mathematical derivation.
•    Demonstrated ability to conduct high quality empirical research or theoretical research relevant for empirical analysis. Knowledge of financial mathematics (derivatives pricing) is a plus but not required.
•    Able to communicate quantitative information and collaborate effectively in a team environment.
•    Solid programming skills in Python and a drive and ability to quickly pick up new technologies. Exposure to Git, Unix, or any high-performance computing language is a plus but not required. Exposure to PyTorch/TensorFlow/Jax is a plus but not required

For New York City only: The salary range for this position is $125,000 - $150,000. Additionally, employees are eligible for an annual discretionary bonus, and benefits including heath care, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

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 and Affirmative Action Employer.  We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.

BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.