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SalaryAbout this role
Company: BlackRock Financial Management, Inc.
Job Title: Associate, Data Science
Location: 50 Hudson Yards New York, NY 10001
Summary of duties: Work specifically within the Portfolio Simulation team, with a focus on bringing innovation that does not exist within our current model offering or that of competitors. Serve as a Quantitative Researcher to develop new models and methodologies in the economic simulation space. Perform empirical research and develop statistical models across asset classes such as equity, fixed income, alternative assets, etc. Conduct prototype research in clean and readable codes that can be implemented by quant developers. Present ideas and results to experts,
practitioners, and academic advisors, and engage with both internal and external clients. Guide models through the validation, implementation, and deployment process. Collaborate on papers for publication, present original research at industry conferences, and speak with institutional clients about relevant research. Work with portfolio management teams on bespoke projects supporting their investment processes. Perform independent and collaborative research on statistical and probabilistic theories and methodology that can be used to simulate features and/or behaviors in the financial markets, the outcomes of which are majorly scientific publications and/or presentations at scientific conferences. Develop and maintain effective and efficient computer programs and software (in Python, C++, MATLAB, etc.) that can be used for financial modeling, the outcomes of which are integrated into the BlackRock’s Aladdin platform that is accessible to both internal and external clients. Actively work along with different teams both within BlackRock and outside to update, optimize, and add new features to current models and workflows to accommodate the emerging demands and requests from clients and the markets.
Qualifications: PhD in Engineering (any), Mathematics, or related field. Requires two (2) years of experience in the job offered or related occupation:
1. Deriving novel mathematical models and methodologies for simulations of complex systems;
2. Using Python to perform research and develop predictive models based on machine learning and mathematics;
3. Developing advanced computational methods for estimating state-space models using mathematical and Data Science techniques, including machine learning;
4. Utilizing modern frameworks including JAX, Pytorch, and Numba with or without GPU support to accelerate computations;
5. Applying modern programming practices including UNIX scripting, Git-based version control, and cloud computing; and
6. Conducting independent and collaborative research that informs scientific and academic publications.
To apply: please click the “Apply” button on this webpage.
For New York City only: The salary range for this position is $171,600 – $210,000. Additionally, employees are eligible for an annual discretionary bonus, and benefits including heath care, 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.
About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
