Associate, Sustainability and Climate Risk (Financial Modeling) - New York/San Francisco
Description About this role
Elevate your career by joining the world's largest asset manager! Thrive in an environment that fosters positive relationships and recognizes outstanding performance! We know you want to feel valued every single day and be recognized for your contribution. At BlackRock, we strive to empower our employees and effectively engage your involvement in our success.
BlackRock is one of the world's preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. BlackRock's mission is to create a better financial future for our clients. We have a responsibility to be the voice of the investor, and we represent each client fairly and equally. Constant communication with a diverse team of partners strengthens us and delivers better results for our clients. Continuous innovation helps us bring the best of BlackRock to our clients. BlackRock offers a range of solutions - from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world's capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs. About the team:
Come join a diverse and collaborative group of researchers in the Sustainability Research and Modeling team within the Financial Modeling Group (FMG). FMG is responsible for the research and development of the financial models underpinning BlackRock's Aladdin platform. The models developed by FMG span a wide array of financial products and enable analysis at many different levels - from analyzing the cash flows of a single bond to understanding the risks across an entire portfolio or enterprise. These analytics empower users with flexible, quantitative risk and investment insights - both across BlackRock and for clients of Aladdin.
The Sustainability Research team is focused on building innovative models to assess the financial impacts of climate change, climate policy and energy policy on large number of asset classes - from corporate equity and fixed income, to mortgages, municipal bonds, sovereign debt and alternative investments. As climate risks and sustainable investing become an ever-increasing focus for investors, we are developing the models and analytics to help drive a deeper understanding of risks and outcomes. About the role:
FMG is looking for quant researchers to join the Sustainability Modeling team. The researchers' primary job responsibilities are to develop methodologies, models and analytics to help portfolio and risk managers to assess climate change, climate policy and energy policy's impact on security and portfolio level valuation and risks.
Key responsibilities include:
- Doing empirical research and calibrating statistical models of climate risk across asset classes at the portfolio level, or of mortgages, consumer loans, structured products and alternative investments at the security level
- Back-testing, documentation and validation of empirical models
- Collaborating on papers for publication, presenting original research at industry conferences, and speaking with institutional clients about relevant research
- Communicating with internal and external clients on model factors, forecasts, performance, strength and weakness, and risk/valuation implications.
Additional responsibilities include working with portfolio management teams on bespoke projects supporting their investment processes; working with financial advisory teams on modeling projects for bespoke products or client whole-loan portfolios. Skills & Qualifications:
- Advanced degree in Environment Science, Economics, Finance, Statistics or other quantitative discipline
- Familiarity with integrated assessments, energy modeling system, general circulation models or natural catastrophic models
- Prior experience in in building climate catastrophic risk models and climate acute risk models
- Strong background in geospatial analysis, applied econometrics, machine learning. empirical finance, macroeconomics, or other relevant studies in social and natural sciences
- Demonstrated ability to conduct high-quality empirical research or theoretical research relevant for empirical analysis
- Able to communicate quantitative information and collaborate effectively in a team environment
- Prior experience with statistical software (e.g., R, SAS, S-PLUS, MATLAB) and background in programming (e.g., Python, C++) is a plus
- Exposure to Unix or SQL is a plus
- Prior experience with large datasets and unstructured data is a plus
- Prior work experience in financial modeling (e.g., risk models and analytics, factor models, mortgage prepayment or credit, commercial credit, securitized products) is a plus
- Prior experience in climate science, climate policy or energy policy is a plus
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. About BlackRock
BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
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 arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.