Model Risk Management, Associate, RQA
BlackRock
Mumbai, IndiaPosted 7 days ago
Skill Required
ExcelEngineeringR ProgrammingStatisticsanalyticalanalyticswrittenetc.)TestNGPythonHadoopdesignC++LinuxJavaVBASQLandAIFulltime
Key highlights
- Advanced degree in a quantitative discipline required.
- Strong programming skills in Python, R, C++, Java, SQL, Hadoop, Linux, Excel/VBA required.
- 4-7 years of quantitative modeling experience is an advantage.
- Key benefit: Flexible Time Off (FTO).
- Key benefit: Retirement plan and tuition reimbursement.
- Notable requirement: Fluent in English (spoken and written).
Role overview
The Model Validation team within BlackRock’s Risk & Quantitative Analysis (RQA) group is responsible for performing independent reviews of models, primarily those produced by the Aladdin Financial Engineering (AFE) group. The role involves evaluating model soundness, designing and executing independent testing, documenting findings, and communicating results to stakeholders, while supporting the firm’s overall Model Risk Management framework.
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 (e.g., 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 a clear way is required.
- Detail oriented paying attention to details.
- 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).
Additional details
- The Risk & Quantitative Analysis (RQA) group provides independent oversight of BlackRock’s fiduciary and enterprise risks.
- RQA’s mission is to advance the firm’s risk management practices and deliver independent risk advice and constructive challenge to drive better business and investment outcomes.
- RQA’s risk managers play a meaningful role in BlackRock’s investment process, using quantitative analysis and a multi-disciplinary skillset to tackle real-world problems and provide tangible solutions in the investment management process.
- The Model Validation team is an integral part of the global Model Risk Management Team and works with model owners and other stakeholders (e.g., model users; governance representatives).
- BlackRock’s hybrid work model requires employees to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week.
- Guidance on AI use for candidates is provided during the hiring process to support thoughtful use of AI while focusing on the candidate’s experiences, thinking, and judgment.
- BlackRock is a proud Equal Opportunity Employer evaluating qualified applicants without regard to protected attributes at law.
- The company’s mission is to help more and more people experience financial well-being, and it emphasizes a culture of inclusion, teamwork, innovation, and development of future leaders.