Description About this role Business Overview
The Risk & Quantitative Analysis (RQA) group provides independent oversight of BlackRock's fiduciary and enterprise risks. RQA's principal objectives are to advance the firm's risk management practices and to deliver independent risk expertise 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 multi-disciplinary skills to tackle real-world problems and provide tangible solutions in the investment management process.
RQA is committed to investing in our people to increase individual enablement and ultimately build a stronger team. Our goal is to create a culture of inclusion which encourages collaboration, innovation, diversity, and the development our future leaders. We actively engage in discussions on career growth and work with team members to understand how personal passions and strength connect with our purpose. Global Model Risk Management
This team is part of the Enterprise Risk management function and is responsible for developing the firm-wide Model Risk Management framework and the implementation of the framework across the firm. Key Responsibilities:
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 they are comprehensive, rigorous, and effective and follow the firm-wide and regulatory requirements.
- Assist with the ongoing evolution and support of the Firm-wide Model Risk Management Policy (the Policy).
- Take initiative to partner with businesses to ensure their model risk management program adherence to the Policy.
- Perform model validation, which would include evaluating the conceptual soundness of models by evaluating the model theory, model construction, models assumptions and testing.
- Escalate and report the status of model risks to the appropriate risk management governance committees on a periodic basis and as required.
- Work with the firm's governance teams on responding to model related inquiries from regulators.
- An advanced degree in mathematics, quantitative finance, computer science, economics, statistics, engineering, or another quantitative field
- Experience in quantitative model development or validation
- Understanding of risk models and methodologies such as market risk, risk and stress testing
- Excellent interpersonal, detail oriented and organizational skills.
- Enthusiasm and energy combined with a clear sense of how to "make it happen" through teamwork, engagement, and commitment
- Ability to manage multiple reviews simultaneously with strong attention to detail, but ability to prioritize and escalate as appropriate
- Knowledge of regulatory requirements such as OCC 2011-12/SR 11-7 guidelines.
- Proven coding skills, i.e., Python, R etc.
- FRM and/or CFA designation is a plus
#EarlyCareers 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 current hybrid work model is designed to enable in-person connections and collaboration that is core to our culture, while supporting increased flexibility for all employees. In line with local health guidance and regulations, employees are required to work at least 3 days in the office each week, with the flexibility to work from home up to 2 days a week. Some business groups may require more time in the office due to their roles and responsibilities. The health, safety and well-being of our people will always be our top priorities; we will continue to monitor local conditions and health advisories in making decisions about our work environments. 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 careers.blackrock.com | www.blackrock.com/corporate | Instagram: @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.