Financial Engineer

About this role

Company: BlackRock Financial Management, Inc.

Job Title: Associate

Location: 50 Hudson Yards, New York, NY 10001

Job Duties: Work on the implementation and maintenance of the model surveillance and performance monitoring infrastructure for the models supported by Single Security Pricing (SSP). Enhance the model documentation. Collaborate with the Risk & Quantitative Analysis (RQA) Group in model validation process for the models owned by SSP. Expand product and market coverage to address evolving client needs by researching, implementing and rolling out new models and analytics. Maintain and enhance existing interest rate, inflation, FX, synthetic credit and equity derivatives models. Refactor existing analytical code to make it more modular and scalable. Keep abreast of recent trends in technology, quantitative finance, capital markets and regulation. Bring the latest techniques to bear on the problems we face in our day-to-day work.

Qualifications: Master’s degree in Financial Engineering, Business Administration, Economics, or a related field and two (2) years of experience in the job offered or as an Analyst, Financial Engineer, or related role. Must have two (2) years of experience with: Experience programming in Python, R, MATLAB, SQL for quantitative analysis, and using Bloomberg terminal and Aladdin suite; and Experience applying time-series analysis to derivatives modeling, including historical volatility estimation, GARCH models, PCA on yield curve dynamics, and mean-reversion parameter estimation. Must have one (1) year of experience with: Experience with model validation and performance monitoring metric design, including validation metric design, out-of-sample testing, parameter stability assessment, threshold analysis, residual analysis, rolling-window statistical diagnostics, structural break detection, technical documentation of methodology and assumptions, and remediation of model review findings; Experience pricing fixed income derivatives including swaps, swaptions, caps/floors, CMS and CMS spread options, callable and puttable bonds; Experience implementing and calibrating short-rate models, including Hull-White, Shifted Lognormal, and G2++; Experience constructing and calibrating interest rate volatility surfaces including caplet stripping, swaption matrix fitting, and SABR smile calibration; Experience constructing multiple yield curves, including OIS, LIBOR & Bank, treasury curve; Experience pricing interest rate derivatives using LIBOR market model, SABR-LMM stochastic vol extension, and forward market model; Experience pricing convertible bonds and equity-credit hybrid securities using jump-diffusion PDE; Experience applying stochastic calculus to derivatives pricing including Ito's lemma, change of numeraire, Girsanov theorem, and Feynman-Kac representations; Experience implementing numerical methods including Crank-Nicolson finite difference, trinomial trees, Longstaff-Schwartz American Monte Carlo, and variance reduction; and Experience developing production pricing analytics in C++ including pricing libraries, calibration routines, and bond/derivative pricing engines.

To apply, please click “Apply” on this webpage.


For New York, NY Only the salary range for this position is USD$145,500.00 - USD$170,000.00 . Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, 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.

Guidance on AI use for candidates

At BlackRock, AI has long been part of how we work – enhancing decision-making, improving operations, and helping us deliver better outcomes for clients. We encourage candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during our interview process, we want to focus on getting to know you through your own experiences, thinking, and judgment. To support you, we’ve provided guidance on when and how to use AI during our hiring process so you can approach each step with confidence and showcase your best self.

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.

To learn more about BlackRock, please visit Careers.BlackRock.com. We also encourage you to get to know us on LinkedIn, Instagram, YouTube, X, and TikTok.

BlackRock is proud to be an equal opportunity workplace. We are committed to equal employment opportunity to all applicants and existing employees, and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement.

BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email [email protected]. All requests are treated in line with our privacy policy.

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.