Commercial Real Estate Risk Manager – Risk & Quantitative Analysis (RQA) at BlackRock, Inc in New York, NY

What we do

BlackRock’s business is investing on behalf of our clients, from large institutions to parents and grandparents, doctors and teachers who entrust their savings to us. We are committed to our clients—period. Our promise is to offer them the clearest thinking about what to do with their money and the products and services they need to secure a better financial future.

That’s why investors of all kinds have made us the world’s largest asset manager, entrusting us with trillions of dollars, and it’s why companies, institutions and global governments come to us for help meeting their biggest financial challenges.

Job description

DescriptionAbout this role

What we do

BlackRock’s business is investing on behalf of our clients, from large institutions to parents and grandparents, doctors and teachers who entrust their savings to us. We are committed to our clients—period. Our promise is to offer them the clearest thinking about what to do with their money and the products and services they need to secure a better financial future.

That’s why investors of all kinds have made us the world’s largest asset manager, entrusting us with trillions of dollars, and it’s why companies, institutions and global governments come to us for help meeting their biggest financial challenges.

Job Description

Business Overview

BlackRock’s Risk & Quantitative Analysis (RQA) group provides independent oversight of BlackRock’s fiduciary and enterprise risks. RQA Investment Risk’s principal responsibility is to ensure that the risks in BlackRock’s portfolios are fully understood by our portfolio managers and senior management and are consistent with clients’ objectives. We also help build “state-of-the-practice” quantitative models and analytics that help inform risk taking and portfolio construction across the firm. RQA team members tackle real-world problems, using quantitative analysis and a multi-disciplinary skillset to provide tangible solutions in the investment management process.

Alternative Investment Risk Management

You will partner with the BlackRock Alternative Investors (“BAI”) Investment teams to deliver independent risk oversight, risk advice, and provide quantitative analysis to assist with portfolio construction, performance measurement, product design and investor engagement. BAI manages over $200 billion globally. The position will work specifically with the Real Assets team within BAI. It invests in Commercial Real Estate debt and equity and infrastructure debt assets which include toll roads, ports, pipelines, wind farms and solar farms, etc. The position will also work with public commercial real estate debt (“CMBS”) portfolio managers in their construction of portfolios with expected returns consistent with client guidelines.

Key Responsibilities:

The successful candidate will be responsible for the risk management of alternative investment portfolios, performance attribution and assessment of risk relative to market opportunity and client guidelines. They will also have significant exposure to senior management across the organization. Responsibilities include but are not limited to daily risk management and oversight and contribution to long term, strategic projects and enhancements to risk and portfolio management processes.

• Partner with investment teams and businesses to confirm that risks are fully understood, consistent with client objectives, and appropriately mitigated
• Explain complex ideas in simple but impactful terms in order to influence portfolio construction decisions
• Apply quantitative techniques to real-world problems including analyzing portfolio risk taking and understanding financial markets
• Work with senior risk managers and junior risk analysts to review private asset investment memos to ensure that the risks of potential investments are fully communicated and understood by the investment committee and articulated properly in investment committee memos
• Help portfolio managers develop and apply proprietary techniques for asset allocation, portfolio construction and alpha generation, effectively communicating with portfolio managers to ensure the risks are fully understood and are consistent with client objectives
• Evaluate incremental risk contributions of proposed investments to client accounts and ensuring that portfolio risk profile is consistent with our client's objectives and risk constraints
• Measure a portfolio’s ability to withstand market and economic stress by conducting scenario analysis and stress tests to shock valuations. Assist in the modelling and implementation of tail risk hedges
• Create models to help understand the cash flow profiles of various funds and measure deviations from expected performance
• Track macro-economic factors and other relevant indicators and conduct research in search of a deeper understanding of the causal relationships between alternative asset returns and economic factors.

Qualifications:

• 10+ years of previous work experience in the financial services industry (asset management, investment banking, consulting, etc.) required; previous experience as a risk manager or investment analyst supporting hedge funds, private equity or private debt portfolios is preferred.
• 3+ years of experience working with Commercial Real Estate Investments
• Experience conducting performance attribution or measurement
• Experience with portfolio construction
• Investment risk management
• Understanding of statistics and financial modeling
• Display strong written/oral communication and outstanding interpersonal skills with the ability to build relationships across all areas of the business
• Be highly organized and proactively respond to the needs of the business, often under tight deadlines
• Creativity and ability to bring innovative ideas into the portfolio construction and risk management process
• A degree in finance, quantitative finance, financial risk management, or economics. Master’s level degree preferred
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