Model Risk Management, RQA, Associate
BlackRock
Mumbai, IndiaPosted 1 month ago
Skill Required
ExcelEngineeringR ProgrammingStatisticsanalyticalwrittenetc.)TestNGPythonHadoopdesignC++LinuxJavaVBASQLAIFulltime
Key highlights
- 4-7 years of quantitative model development or validation experience preferred
- Advanced degree (BS or MS) in a quantitative discipline required
- Proficiency in programming languages such as Python, R, C++, Java, SQL, Hadoop, Linux, Excel/VBA
- Comprehensive healthcare coverage
- Flexible Time Off (FTO) policy
- Hybrid work model requiring at least 4 days in the office per week
Role overview
The Model Validation team within BlackRock’s Risk & Quantitative Analysis (RQA) group conducts independent reviews of models, chiefly those created by the Aladdin Financial Engineering group. The role involves assessing model theory, testing, documenting findings, and communicating results to stakeholders while supporting the firm’s broader risk management mission.
Responsibilities
- Evaluate conceptual soundness of models by assessing the model theory (incl. model assumptions, limitations), model construction and model testing in relation to the known model use cases.
- Review adequacy of testing performed by model owners and design and execute efficient independent model testing both standardized and tailored to specifics of the model’s type, implementation and usage.
- Document validation approach, observations, findings and conclusions in comprehensive validation reports.
- Communicate results of model validation tests and observations within the team and to relevant stakeholders, where appropriate.
Requirements
- Advanced Degree (BS, MS) in a quantitative discipline, with strong Mathematics, Statistics and Analytical skills.
- Strong technical background and practical application of one (or more) of programming languages is required (for example: Python; R; C++; Java; SQL; Hadoop; Linux applications; Advanced Excel modelling / VBA etc.).
- Strong communication and interpersonal skills, including ability to explain sophisticated technical concepts in clear way is required.
- Detail oriented paying attention to details.
- Enthusiasm and energy combined with a clear sense of how to “make it happen” through teamwork, engagement and commitment.
- Fluent in spoken and written English.
Nice to have
- 4-7 years of experience in quantitative model development or validation in the areas is an advantage, in particular, practical knowledge in one of following types of models: derivatives analytics; structured products analytics; portfolio risk factor models; private/alt asset class modelling; liquidity modelling.
- Experience in using AI for analytical work is an advantage.
- Broad market and finance knowledge in certain asset class areas is an advantage (for example: Equity; FI; Beta; Derivatives; A(M)BS; Credit; Private; LDI; other).
Benefits
- Strong retirement plan
- Tuition reimbursement
- Comprehensive healthcare
- Support for working parents
- Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about
Additional details
- Business Overview: The Risk & Quantitative Analysis (RQA) group provides independent oversight of BlackRock’s fiduciary and enterprise risks and advances the firm’s risk management practices.
- RQA’s mission is to deliver independent risk advice and constructive challenge to drive better business and investment outcomes.
- RQA is committed to investing in people to promote individual accomplishment and a strong collaborative environment, fostering inclusion, teamwork, innovation, diversity and future leaders.
- Model Validation team is an integral part of the global Model Risk Management Team, which develops the firm‑wide Model Risk Management framework and its implementation across BlackRock.
- The team works with model owners and other stakeholders (e.g., model users; governance representatives) to design and run independent testing of models and provide effective challenge to methodology and implementation.
- Hybrid work model: Employees are 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.
- Guidance on AI use for candidates: Candidates are encouraged to use AI thoughtfully for learning and preparation, but interviews focus on personal experiences, thinking, and judgment.
- About BlackRock: The company’s mission is to help more people experience financial well‑being, supporting clients in retirement savings, education, home buying, business creation, and broader economic strength.
- BlackRock is an Equal Opportunity Employer, evaluating qualified applicants without regard to protected attributes.
- For more information, visit Careers.BlackRock.com and follow BlackRock on LinkedIn, Instagram, YouTube, X, and TikTok.