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Website BlackRock
Job Description:
The Global Accounting and Product Services (GAAPS) division is responsible for providing operational support to BlackRock’s portfolio management teams and clients. GAAPS is central to business operations in providing subject matter expertise, monitoring fund administrator service delivery in relation to fund accounting and financial reporting, monitoring operational capacity for new products, supporting projects regarding product launches and liaising with fund administrators, auditors, fund directors and portfolio managers. The group comprises of a number of teams and is organized both functionally and regionally. This position is within the Fee Oversight Team.The Global Accounting and Product Services (GAAPS) division is responsible for providing operational support to BlackRock’s portfolio management teams and clients. GAAPS is central to business operations in providing subject matter expertise, monitoring fund administrator service delivery in relation to fund accounting and financial reporting, monitoring operational capacity for new products, supporting projects regarding product launches and liaising with fund administrators, auditors, fund directors and portfolio managers. The group comprises of a number of teams and is organized both functionally and regionally. This position is within the Open-End NAV Oversight team supporting alternatives in the US.
Job Responsibilities:
- Effectively communicate complex concepts and procedures to all levels throughout the firm
- Understand the alternatives industry and how changes to that industry will impact BAI
- Ensure new funds are onboarded within the best in class control framework
- Partner with internal teams and third-party administrators to build and/or review fee calculations for funds recently launched funds
- Interpret complex fee agreements and other legal documentation such as LPAs to ensure timely and accurate fee calculations
- Lead the continuous assessment of the oversight model to ensure fee calculations follow the governing legal documents
- Participate in new business discussions with Product and prospective and existing clients related to fee structures
- Understand incentive fee calculations for hedge funds and carried interest waterfall calculations for closed end funds
- Lead the continuous assessment to ensure that the Alternatives Operations team operates within the best in class control environment
- Understand the various Alternatives strategies within BlackRock Alternative Investments (BAI) and the challenges faced by each team
- Ensure strict adherence with product policies and guidelines to ensure all legal, compliance, and audit standards are met
- Review existing unrealized and realized waterfall models which include preferred return, recycling capital, carried interest and clawback
Job Requirements:
- The ability to prioritize, multi-task, and work independently
- The ability to read, understand, and follow complex partnership agreements and offering materials
- Creativity with an analytical mind and openness to using technology to solve problems
- Entrepreneurial spirit that is willing to take on additional responsibility quickly
- Complex modeling ability with experience in carried interest and management fee calculations
- Excellent communication, presentation skills, and comfort in senior management communication
- Understanding of Hedge Funds and/or Private Equity and fund of funds waterfall structures
- Strong project management and time management skills
Qualification & Experience:
- 7-10 years of work experience in financial services, 5+ years alternative investments preferred
- Outstanding academic achievement, broad based work experience, and demonstrated leadership experience
Job Details:
Company: BlackRock
Vacancy Type: Full Time
Job Location: Princeton, NJ, US
Application Deadline: N/A
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