About this role
Business Unit Overview:
Risk & Quantitative Analysis (“RQA”) performs the risk management activities and quantitative analysis functions at BlackRock. RQA’s mission is to help BlackRock manage its fiduciary and enterprise risks and provide independent risk oversight. In the course of executing this mission, RQA provides quantitative analysis to many of BlackRock’s businesses and helps promote the spread of best practices across the firm.
The Enterprise Risk function has an Enterprise-wide risk focus and facilitates the pro-active identification, assessment and management of enterprise risks, including the operational risks embedded in all BlackRock’s products, services and activities.
The focus of the Enterprise Risk Team within RQA is on those risks which directly impact the corporate entity (i.e. BlackRock, Inc., or one of its subsidiaries), rather than the fiduciary risks assumed by funds/clients, such as investment risks and counterparty risks. The scope is enterprise risk management, including operational risk, corporate market risks (i.e. sensitivity of base and performance fees to market moves, or the MTM risk on BlackRock’s own investment portfolio), as well as other important areas like model risk and country risk. The global Operational Risk team is responsible for all aspects of operational risk, including error investigation and resolution, new product and business change risk assessments, risk reporting / analysis and the maintenance and development of the operational risk framework, including facilitation of risk and control self-assessments.
The Enterprise Risk function remains closely engaged with the evolving regulatory environment and supervisory expectations, to ensure that BlackRock’s internal risk and control frameworks remain consistent with these, and to co-ordinate regulatory initiatives from an RQA perspective (for example, capital and liquidity assessments).
The Enterprise Risk team works with Finance, Compliance, Internal Audit and other control-related teams to ensure an integrated, efficient and complete approach to the risks and controls of the firm from an enterprise standpoint.
- Manage operating events arising across business areas (Investment, Clients, Business Operations teams) in EMEA, ensuring data accuracy, integrity and consistency in the Operational Risk database. Coordinate resolution with multiple teams, performing enhanced root cause analysis and post-mortem reviews where required.
- Analyze risk data and work with business areas to identify error root causes and trends, material risks and control issues/themes and agree mitigating actions. Advise on changes to processes and procedures across the business, including potential Risk and Control Issues (“RCI”).
- Provide oversight and challenge to business areas on risk management, design and effective operation of controls, including in the context of Risk & Control Self Assessments (“RCSAs”).
- Development and active promotion of the risk management framework and BlackRock‘s risk-aware culture, including roll-out of Operational Risk framework tools and training.
- Provide support to produce risk reporting and analysis for the Enterprise Risk team, Committees and Boards.
- Lead or participate in certain business engagement relationships to provide regular business reviews – e.g. operating event trends and causal analysis, tracking of operating losses versus residual risk forecast recorded in RCSAs, emerging risks, etc.
- Contribute to drive operational excellence at BlackRock and support the Operational Risk team in enhancing the framework through participation in key initiatives for the global / regional team.
- Provides an exciting opportunity to develop Operational Risk management skills within a pre-eminent asset management firm within the industry, as well as in a dynamic and diverse team.
- With Enterprise Risk spanning all aspects of the business, the role provides a unique opportunity to interact with key stakeholders across the firm and learn about BlackRock’s products, services and processes, as well as build a large internal network of stakeholders at all seniority levels.
- Must have experience in Financial Services. Experience within asset management is preferred but not essential.
- Working knowledge of risk management and/or regulatory frameworks, including some of the key European regulations (e.g. MiFID, UCITS, AIFMD), would be highly regarded.
- Degree in quantitative, finance, economics or business preferable.
- Fluency in written and spoken English is essential.
- Integrity combined with high personal and professional standards.
- Excellent analytical skills with the ability to identify emerging risks and explain risk trends.
- Strong collaborative and interpersonal skills as well as an ability to communicate (verbal, written and presentation) across all levels within the organisation.
- Proactive self-starter, ability to learn quickly and to take initiative. Enthusiasm and energy Combined with a constant desire to challenge the status quo and to drive operational excellence.
- Ability to work with key stakeholders to develop and implement solutions to reduce risks across the organisation.
- Analytical ability to synthesise information and summarize issues.
- Good negotiation skills, ability to resolve conflict between teams or individuals so that functional / organisational objectives are achieved through teamwork, collaboration and stakeholder engagement.
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, our clients turn to us for the solutions they need when planning for their most important goals. As of June 30, 2019, the firm managed approximately $6.84 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit http://www.blackrock.com/corporate | Twitter: @blackrock | Blog: http://www.blackrockblog.com | LinkedIn: http://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.