Associate

New York, NY

Full-time

Hybrid

$150K/yr - $170K/yr

Entry Level

BlackRock Financial Management, Inc. is seeking an Associate to build and maintain risk neutral deterministic and stochastic models for financial instruments. The role involves establishing governance processes, collaborating with software developers, and communicating model performance with internal clients.

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Responsibilities

Build and maintain risk neutral deterministic and stochastic models that are used for construction of Interest Rate, FX, inflation curves, volatility surfaces, and pricing corresponding instruments
Establish and implement robust governance processes in the space of rates and derivatives
Contribute to developing and maintaining the automated process that will ensure that our models are performing successfully, and flags exceptions that require further attention
Perform model testing and maintain model documentation in sufficient detail up to standards
Collaborate with software developers and validation teams to test and release new models into production
Communicate (verbally and in writing) with internal clients on model performance regularly, investigate exceptional model performance, diagnose issues and conduct corrective remediations
Keep abreast of recent trends in technology, quantitative finance, and capital markets
Bring the latest techniques to bear on the problems we face in our day-to-day work

Qualification

Required

Master's Degree or foreign equivalent in Financial Engineering, Mathematics, or related field, and 12 months of experience in job offered or closely related role
Bachelor's Degree or foreign equivalent in Financial Engineering, Mathematics, or related field, and 36 months of experience in job offered or closely related role
One year of experience in the following: Perform end-to-end analysis using Python tools including pandas, numpy, scikit-learn, Airflow and SQL on large financial datasets
Develop and deploy research pipelines and trading tools in Unix and Linux environments using Git and Bash
Apply advanced financial theories including Black-Scholes, mathematical models such as stochastic calculus and optimization, and statistical frameworks like time-series analysis and Bayesian inference in model development
Design and maintain models and infrastructure in Python and C++ to support both rapid prototyping and high-performance computing for latency-sensitive components
Build frameworks for historical strategy evaluation, scenario analysis, stress testing, and uncertainty quantification
Conduct empirical and theoretical research on financial instruments including equities, futures, bonds, and rates across global markets such as the US and APAC, focusing on liquidity, volatility, and co-integration
Create automated tools and dashboards for performance attribution, live monitoring, anomaly detection, and model validation