BlackRock Investment Institute, Portfolio Research, Vice President
BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of March 31, 2018, the firm managed approximately $6.317 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock.
BlackRock Investment Institute (BII) Overview:
Connecting investors to help drive investment performance has been, and remains, the core mission of the BlackRock Investment Institute (BII). Since 2011, BII has been a critical vehicle for investors to learn from each other, and to develop insights that help them deliver better performance for our clients. We systematically leverage BlackRock's expertise in markets, asset classes and client segments to help our portfolio managers deliver positive investment results for clients. We keep our investment professionals connected and informed by convening internal forums, workshops and calls. These investment debates enable our fund managers to challenge each other's thinking, share insights and generate new investment ideas. BII's global investment strategy team and the economic and markets research team work with the firm's portfolio managers to develop investment views. They also support investment teams with original research.
In 2018 the mandate of BII is expanding to include a dedicated team for Portfolio Research, which is part of a broader firmwide push to establish a recognized and differentiated brand in portfolio construction, putting it at the center of BlackRock's client proposition. The team will aim to ensure a coherent approach to portfolio construction manufacturing and delivery across the firm.
The Portfolio Research team in BII is product agnostic and independent of the firm's investment functions. We strive to be seen as credible and objective by both clients and academia, building on state-of-the-art academic research and leveraging the expertise of BlackRock's investment teams to deliver practical and actionable content to the rest of the firm.
The team's key areas of research are the generation of portfolio construction principles and capital market assumptions. The output may take the form of capital market assumptions across different regions and time horizons, model portfolios or portfolio construction and optimisation tools, models, processes and frameworks. In order to build our brand within portfolio construction, the communication of our research takes the form of internal and external publications, partnership with BlackRock's investment teams as well as participation in conferences, client meetings and the media.
BlackRock is looking for a financial economist to join the BII Portfolio Research function within BII. In this new role, the financial economist will work closely with the Economic & Markets Research Group within BII and the Financial Modelling Group within the wider BlackRock, on developing a range of economic and financial scenarios and models.
The primary responsibility includes, but is not limited to, the production of core portfolio construction intellectual property:
- You will collaborate with the BII Economic and Markets Research Group and BlackRock's Financial Modelling Group to develop a range of economic and financial scenarios and models
- You will use a range of analytical and quantitative methodologies to drive the development and thinking behind BlackRock's
- Portfolio construction investment frameworks , for example how to mix alpha-seeking and indexing solutions in a portfolio, or how to account for asset illiquidity
- Capital market assumptions and associated models across public and private markets , for example how to forecast public and private equity risks, returns and correlations.
- Optimization and other asset allocation models , for example how to use robust or stochastic optimization in a portfolio construction process.
- You will be responsible for assisting in the production and communication of our core portfolio construction intellectual property research, both with BlackRock's investment teams and to BlackRock's clients
- You will collaborate with other parts of BII and the wider firm - for example with the BII Economic and Markets Research Group to assist with research across key thematic investment issues impacting multi-asset investors.
Knowledge / Experience:
- PhD profile with the relevant economics / time series / asset pricing experience - ideally an understanding of economic scenario generators (ESG)
- Ideally an PhD degree in a quantitative field (e.g. economics, econometrics, finance, engineering, physics, or mathematics)
- Demonstrable experience of financial and econometric modelling in at least one programming environment such as Python or Matlab.
- Intuition for and a passion in financial markets and with experience in the finance sector
- Deep understanding of macroeconomic and financial data
- Strong understanding of current Asset Pricing theory and literature
- Knowledge of the academic background and usage of stochastic models and economic scenario generators
- Excellent written and verbal communication skills - presents ideas in a clear, concise and constructive manner
- Familiarity with Unix or Linux desirable but not essential.
- Additional European language skills apart from English are desirable but not a requirement
- Excellent academic background
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, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
BlackRock will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the law, including any applicable fair chance law.
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