Portfolio Risk Modeling Model Governance - 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 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.

Aladdin Financial Engineering (AFE)

AFE is a diverse and global team with a keen interest and expertise in all things related to technology and financial analytics.  The group is responsible for the research development and adoption of quantitative financial and behavioral models and tools across many different areas – single-security pricing prepayment models risk return attribution liquidity optimization and portfolio construction scenario analysis and simulations covering all asset classes. The group is also responsible for the technology platform that delivers those models to our internal partners and external clients and their integration with Aladdin.

We are seeking a hands-on Quantitative Associate to join the Portfolio Risk team within AFE. This role is ideal for someone who enjoys working deeply with data and code has strong attention to detail and is motivated to build practical production-ready risk models and analytics used by real investment professionals. 

This is an individual contributor role focused on quantitative research model development testing and implementation. Formal project management responsibilities are not required but the role does require strong ownership of work critical thinking and the ability to collaborate effectively with researchers engineers and stakeholders across regions. 

The Portfolio Risk team develops and maintains a broad set of analytics including: 

• Multi-factor Linear risk models 

• Value-at-Risk (VaR) methodologies 

• Volatility and covariance matrix estimation 

• Portfolio stress testing and scenario analysis 

These models are widely used across Aladdin and directly influence investment and risk management decisions. As a result the team places strong emphasis on model rigor governance scalability and transparency. 

This role also offers the opportunity to contribute directly to the team’s AI transformation journey particularly in applying AI and automation to modernize and scale model governance workflows. 

What You Will Do 

• Research design and back-test portfolio risk models using Python-based infrastructure 

• Work hands-on with large and complex financial datasets ensuring data quality and robustness of results 

• Collaborate closely with software engineers to test productionize and maintain models 

• Support existing models in production including investigation and resolution of model-related questions from internal stakeholders and clients 

• Develop and enhance testing validation back-testing and quality-control frameworks 

• Contribute to the team’s AI transformation journey with a focus on applying AI ML and automation to model governance processes such as: 

• Model validation and back-testing 

• Testing and quality control 

• Documentation and reproducibility checks 

• Research-to-production code migration 

• Clearly document and communicate model assumptions results and limitations to both technical and non-technical audiences 

Skills & Qualifications:   

• Master’s degree (e.g. MFE) or PhD in a quantitative field such as Finance Economics Mathematics Statistics Computer Science or Engineering 

• Strong hands-on programming experience primarily in Python (R a plus) 

• Experience working with large datasets and applying statistical econometric or quantitative techniques 

• Solid understanding of financial markets financial products and basic economics 

• Strong analytical and problem-solving skills with high attention to detail 

• Clear written and verbal communication skills in English 

• Ability to work effectively in a collaborative team-oriented environment 

Competencies:  

• Critical thinking and intellectual curiosity 

• Strong ownership of work and accountability for quality 

• Ability to translate complex quantitative ideas into practical usable solutions 

• Comfort working across disciplines (quant research engineering risk product) 

• Interest in building robust scalable and well-governed analytical systems 

• Innovative thinking balanced with sound judgment and practicality 

Is a plus… 

• Exposure to machine learning and AI techniques particularly as applied to financial or time-series data 

• Experience applying AI ML or automation to model lifecycle and governance workflows such as validation back-testing testing monitoring documentation or code migration 

• Knowledge of fixed income and/or equity risk factor models 

• Understanding of portfolio theory and risk analytics 

• Experience designing rigorous testing and back-testing frameworks 

• Familiarity with building scalable and repeatable research or modeling processes 

• Strong software engineering practices (clean well-tested code) 

• Experience with Unix/Linux and Git 

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 workplace. We are committed to equal employment opportunity to all applicants and existing employees and we evaluate qualified applicants without regard to race creed color national origin sex (including pregnancy and gender identity/expression) sexual orientation age ancestry physical or mental disability marital status political affiliation religion citizenship status genetic information veteran status or any other basis protected under applicable federal state or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement.

BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process please email [email protected]. All requests are treated in line with our privacy policy.

What We Do

As the world’s largest asset manager BlackRock partners with investors around the globe to help them (and those on whose behalf they invest) plan for life’s most important goals – like retirement home ownership and their children’s education. Our clients range from governments foundations and other large institutions to those investing on behalf of individuals including firefighters nurses teachers and factory workers. BlackRock was founded with the idea of creating a better asset management firm — one that was purpose-driven focused on clients and risk management and propelled by data and technology. Our breakthrough Aladdin® platform is BlackRock’s technological backbone helping investors see and manage their whole portfolios in one place – from constructing investments to monitoring risk and executing trades. Used by hundreds of external institutions around the world Aladdin combines powerful analytics and a common language to help investment teams make faster more informed decisions across public and private markets. It’s a key part of our business and one of the reasons we’re trusted to manage more assets than any other investment manager today. At BlackRock we challenge conventions and raise the bar for what’s possible. We harness technology to unlock new solutions simplify complexity and deliver investment strategies that meet people where they are. Whether it’s retirement planning wealth building or navigating market shifts we’re here to help clients invest more easily more affordably and with more choice as we chart a path toward financial well-being together. Learn more: Careers.BlackRock.com

Why Work With Us

Without our people technology is irrelevant. When we combine the power of people with the power of technology we amplify our ability to create better outcomes for our employees clients shareholders and society alike.

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