Associate, Portfolio Management

$115,000 - $147,500/Yr

BlackRock - San Francisco, CA

Full-time - Entry Level

Remote - San Francisco, CA

Funds, Trusts, and Other Financial Vehicles

About the position

The Index Fixed Income (IFI) team at BlackRock is responsible for managing a vast array of Index Fixed Income portfolios, including Exchange Traded Funds (ETFs) and mutual funds. This role involves collaborating with various teams to ensure efficient and risk-controlled management of over $1.5 trillion in global index fixed income assets. As a member of the Rates Index Portfolio Management team, you will contribute to managing $400 billion in rates assets, driving investment decisions, and supporting the development of new products.

Responsibilities

• Manage over $400bn of AUM in rates funds across multiple benchmarks and constraints.
• Support the construction and management of rates portfolios with daily flows including order raising, compliance resolution, cash management, derivatives life cycle management, and risk hedging.
• Enhance and streamline portfolio management processes by employing advanced programming skills to design and implement scalable solutions and algorithms.
• Utilize Aladdin, vendor technology, and other analytical tools to enhance and scale processes.
• Monitor market and operational risk and ensure adherence to regulatory compliance.
• Produce daily, periodic, and ad hoc analysis and reporting required by the PM team.
• Contribute to continuous process improvement, strategic projects, and ad hoc analysis related to the platform.
• Identify and assess relative value across the rates universe and maintain risk oversight processes.

Requirements

• Minimum BSc in a highly quantitative subject such as Mathematics, Physics, Engineering, or a related field.
• Approximately 1-6 years of relevant experience and a strong desire to learn.
• Understanding of fixed income markets, particularly cash rates and derivatives.
• Advanced knowledge of Python and pandas applied to financial modeling.
• Strong bond math, probability theory, and applied portfolio theory skills.
• Skilled at writing efficient SQL queries to interact with databases.
• Proficient in creating efficient and user-friendly Excel worksheets.

Nice-to-haves

• MSc in Financial Engineering, Financial Mathematics, or a related field preferred.
• Experience working as a Portfolio Manager, either directly or alongside.
• Experience with using APIs, quantlib, git, and unit testing.
• Yield curve construction and portfolio optimization skills.
• VBA skills.
• Bloomberg proficiency including extracting data programmatically and through Excel.
• Experience with Aladdin tools and datasets.

Benefits

• Strong retirement plan
• Tuition reimbursement
• Comprehensive healthcare
• Support for working parents
• Flexible Time Off (FTO)