Associate, Financial Markets Advisory – Modeling & Analytics
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At December 31, 2016, BlackRock's AUM was $5.1 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. As of December 31, 2016, the firm had approximately 13,000 employees in more than 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com | Twitter: @blackrock_news | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock
Introduction to BlackRock Solutions:
Through its BlackRock Solutions ("BRS") division, the firm offers its strategic and balance sheet advisory, risk solution, Aladdin® enterprise investment management and risk system, and other outsourcing services. BRS combines advisory and analytical competencies with market and industry expertise to offer a range of global capabilities designed to provide our clients with balance sheet, capital markets and regulatory solutions. The foundation of this business is based in our Aladdin platform, which serves as the investment system for BlackRock as well as for a large number of sophisticated institutional investors around the world, and processes over $17 trillion of exposures on a daily basis. BlackRock's Aladdin offerings include comprehensive risk reporting along with investment-oriented analytics; and other middle and back office outsourcing and investment accounting services. The Aladdin® platform is the key to our ability to assimilate and analyse large, complex data risk across a vast array of investment holdings. The institutional infrastructure within BRS is truly unique, representing tremendous breadth and global scale in key functions such as data onboarding and data integrity verification; financial modeling; financial analysis; and a wide range of analytical support services.
Introduction to BlackRock's Advisory Business:
BlackRock's Financial Markets Advisory ("FMA") group provides counsel to financial institutions, regulators, and government entities on their most critical and often most complex financial issues. The broad set of capabilities within FMA seeks to combine asset expertise and capital markets knowledge with practical, results-oriented consulting and advisory skills. The group typically works with senior management at top financial institutions, official institutions and market intermediaries and utilities around the globe, with a focus on their balance sheet and capital markets exposures as well as a wide range of other strategic, regulatory and operational challenges.
The FMA group was established in 2008, within BRS, to address the unique challenges that arose globally as a consequence of the financial crisis. Since its founding, FMA has completed over 460 assignments for over 210 unique clients in 31 countries. The FMA team is regularly called upon to address our clients' most unique challenges. FMA uses financial, experiential, educational and promotional incentives to attract, retain and develop some of BlackRock's most outstanding talent. We presently conduct our activities through over 200 professionals located globally, principally in New York, London and Gurgaon, India. As part of BRS, the FMA group operates behind an informational barrier separating it from the firm's traditional portfolio management activities. This creates a conflict-avoidant environment and further serves to protect client data and proprietary information.
Introduction to BRS FMA's Market & Analytics Group (MAG):
The Markets & Analytics Group (MAG) within FMA is the global function accountable for developing a strategic and innovative approach to the capital markets and analytical components of client engagements. The group has a wide range of responsibilities across the life of FMA's processes and client assignments including, but not limited to:
- Driving the design and execution of analytical processes within engagements, working in concert with practice area professionals, engagement managers and other engagement team members (e.g., work on a project team responsible for developing a suite of stress testing models for a large European bank, covering the end-to-end process from onboarding millions of records of historical loan portfolio data to building comprehensive balance sheet models for review with bank and regulatory stakeholders, ultimately impacting capital decisions)
- Providing capital markets content, including asset class expertise and trade execution capabilities, across engagements, leveraging direct and Firm resources (e.g., provide liquidation cost analysis related to a portfolio of complex, structured securities in support of a Client's strategic divestment initiative, valuing and managing the wind-down of a Client's non-core portfolio of structured assets)
- Helping drive commercial momentum across all aspects of FMA, playing a key role in client solicitations and product development (e.g., be an active stakeholder in all aspects of client-level dialogue – including executive level interaction – related to FMA's analytical capabilities and asset class / product suite)
- Serving as the central point of coordination with the BRS Financial Modeling Group ("FMG") and the Portfolio Analytics Group ("PAG") with respect to project design, execution, and delivery, as well as strategic deployment and coordination of resources (e.g., develop a deep understanding of analytics, modeling, and technology at BlackRock while building a broad network across the firm)
- Providing oversight on the quality of all analytical deliverables across the department, through the development and execution of a consistent quality assurance process
The Modeling and Analytics vertical within FMA's MAG team is responsible for leading custom model design, development and delivery as well as model validation advisory support for FMA clients.
Custom model development responsibilities include leading the global execution of customized modeling engagements for third party clients, implementing and executing model development standards for estimation, delivery and documentation of newly created models, and close coordination with other modeling teams within BlackRock.
Model validation responsibilities involve leading the global execution of model validation advisory engagements, supporting model validation and documentation requirements and components of complex, high-profile client projects in accordance with supervisory and internal model risk management standards.
- Play a hands-on role in client project execution for customised modeling engagements and model validation advisory assignments – working in close collaboration with FMA engagement teams – by participating in model development and data analysis
- Implement procedures and standards for modelling content and related documentation supporting project needs, and clients' business and model validation requirements
- Work directly on project teams to support state of the art custom model development (including relevant analytics and reporting) and accompanying model documentation to fulfil clients' business and model validation requirements
- Provide support for business development, lead qualification and strategic product development for all projects with a custom model estimation or model validation component
- Develop expertise in FMA modeling and analytics capabilities, staying current on latest developments and trends
- Support technical writing efforts for modelling and other IP documentation
- Collaborate with FMG, Risk and Quantitative Analysis (RQA) and other related teams at BlackRock for model development, model risk management and documentation best practices and approaches as well as on any validation-related topics pertaining to BlackRock's proprietary models (e.g. Aladdin)
- Serve as subject matter authority on FMA model validation expertise, staying current on latest sector-specific regulatory guidance, industry best practices, developments and trends
The ideal candidate will be a modeling and analytics specialist, who has demonstrated the ability to work on teams executing modeling and model validation advisory projects. The ideal candidate will possess:
- Demonstrable professional experience either in developing and/or validating models using underlying methodologies relevant for FMA projects (e.g. statistical, behavioural)
- Strong technical writing skills and ability to communicate, verbally and in writing, analytical concepts to a range of client and internal audiences
- Background in financial services ideal; publications or experience in consulting a plus
- Strong attention to detail; action-oriented attitude; and willingness to roll up sleeves
- Team player with collaborative and strong interpersonal skills; mentors and coaches resources along the way; leads by example
- Superior organisational skills, self-starter and ability to perform under pressure and tight deadlines in a fast-paced, demanding environment
- B.A. / B.S. or significant coursework in an engineering, technical, and / or quantitative discipline: Computer Science; Math; Statistics; Operations Research, Engineering; Physics
Other personal characteristics
- Unquestioned integrity and the highest ethical standards
- A keen interest in financial markets and a built-in drive to achieve superior performance
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