About this role
Company: BlackRock Financial Management, Inc.
Job Title: Associate
Location: 50 Hudson Yards, New York, NY 10001
Job Duties: Develop, maintain, and enhance BlackRock's credit modeling suite, which includes models for Probability of Default, Recovery, and Ratings Migration for corporate bonds, municipal bonds, and private credit. Responsible for the end-to-end lifecycle of credit risk models, including development, validation, implementation, and monitoring. Stay current with academic research, industry trends, and emerging modeling techniques in credit risk, across public and private markets. Drive innovation through the adoption of Al/ML techniques, alternative data sources, and automation. Present model methodology, results, and findings to Model Approval Committees to get approval for various use cases. Establish and maintain robust model governance frameworks to ensure ongoing model performance and relevance. Work closely with portfolio managers, credit analysts, and risk managers to ensure models and analytics are aligned with their requirements. Drive integration of model analytics into user-facing tools in Aladdin. Serve as a thought leader and subject matter expert in client engagements, internal knowledge-sharing forums, and cross-functional initiatives to increase awareness and utilization of modeling capabilities.
Qualifications: Master's degree or foreign equivalent in Financial Engineering, Financial Mathematics, Quantitative Finance, or related field, and 24 months of experience in job offered or closely related role. Two years of experience is required in the following: Credit modeling methodologies including Merton-type frameworks, MC simulation driven models, and credit rating migration models; Credit modeling with structural opacity and liquidity of private credit details; Programming in Python, R, and C++; Statistical computing; Econometric analysis and model deployment; Corporate finance, bond valuation and risk assessment; Loan underwriting; Fixed income; Financial market dynamics and contextualization of quantitative insights within real-world macroeconomic and microstructural phenomena; Engage with external clients to convey analytical insights, manage expectations, and support strategic decision making; employee; Stata; Tableau; SQL; Java; and Machine Learning.
To apply, please click “Apply” on this webpage.
For New York, NY Only the salary range for this position is USD$150,600.00 - USD$170,000.00 . Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.
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.
Guidance on AI use for candidates
At BlackRock, AI has long been part of how we work – enhancing decision-making, improving operations, and helping us deliver better outcomes for clients. We encourage candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during our interview process, we want to focus on getting to know you through your own experiences, thinking, and judgment. To support you, we’ve provided on when and how to use AI during our hiring process so you can approach each step with confidence and showcase your best self.
