Job Information
BlackRock Associate, Model Governance in Budapest, Hungary
About this role
Job Description
Position: Associate – Portfolio Attribution Modeling - Aladdin Financial Engineering
Corporate Title: Associate
Location: Budapest
BlackRock Company Description:
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.
Role Overview:
We are looking to hire a quantitative modeler (Associate) to join our Portfolio Attribution Modeling team. This team builds and maintains performance attribution models and analytics, including decision-based models (such as Brinson-Fachler), factor-based models (using Aladdin’s linear factor models), and linking algorithms (such as Frongello). These models span a wide variety of asset classes including fixed income, equity, and private markets. The models are used by traders, portfolio managers and risk managers at BlackRock and Aladdin clients for understanding sources of performance, and articulating the implications of different investment decisions to clients and investors.
This individual would have a strong background in quantitative methods, have proven experience to work in a (global) team environment, as well as collaborating with senior modelers from other groups/regions. This person is expected to join as an individual contributor working on all aspects of model governance for our portfolio attribution models.
Key Responsibilities
Building and maintaining model governance controls for the portfolio attribution models, including (but not limited to) model performance monitoring, model documentation, model remediations and supporting internal & external client model validations
Building and maintaining data governance controls for the portfolio attribution models, including (but not limited to) creating an inventory of all crucial inputs to the Aladdin performance engine, developing specifications for all attribution models, and maintain an inventory of data incidents
Communicate (verbally and in writing) with internal and external clients on model performance regularly, investigate exceptional model performance, diagnose issues and conduct corrective remediations
Researching, designing, documenting and back-testing new portfolio attribution models using Python
Collaborating with software developers and validation teams to test and release new models into production
Supporting existing portfolio attribution models in production; investigating and resolving client inquiry relating to attribution methodology and functionality
Qualifications
Graduate degree in a technical field (Econometrics, Finance, Mathematics, Statistics, Computer Science and/or Engineering)
2+ years relevant working experience within the performance and attribution or Master degree in Financial Mathematics. Accounting domain is a plus.
Strong programming skills and experience using Python to conduct quantitative analysis
Knowledge in Unix/Linux, Git is a plus
Strong knowledge of financial, mathematical, and statistical theory is a plus
Strong oral and written (English language) communication skills that enable complex ideas to be readily understood by team members and clients
Enthusiasm, flexibility, and maturity to adapt to the needs of a dynamic group and deliver within strict time frame
Good time management skills including the ability to handle multiple projects
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, disability, veteran status, and other statuses protected by law.
Our benefits
To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; 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 (http://careers.blackrock.com/) | Twitter: @blackrock (https://twitter.com/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, race, religion, sex, sexual orientation and other protected characteristics at law.