Alternative Operations - Business Management Associate or Vice President - Fee Oversight

  • Not Specified
  • New York, NY, USA New York NY US
  • Permanent, Full time
  • BlackRock
  • 17 Apr 18 2018-04-17

BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of December 31, 2017, the firm managed approximately $6.288 trillion in assets on behalf of investors

BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of December 31, 2017, the firm managed approximately $6.288 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock.

Job Description:

Team Overview

The Business Management Group (BusMgmt) within Alternatives Operations is focused on working with all of the relevant stakeholder groups across the firm to long-term strategic and tactical solutions to the complex issues presented by managing and operating alternative products. BusMgmt engagements are high profile initiatives which require team members to have senior level exposure and play an active role in shaping the future state operating model of Alternatives Operations; a typical BusMgmt project is at least as much about processes and implementing change as it is about the technology employed to do so.

We are looking for a candidate to work as part of a global team that will be able to make an immediate contribution to various projects with a specific focus on Management and Performance fees and complex waterfalls.  This includes effectively understanding the business and specific issues that need to be addressed, developing a strategy, managing a team, tracking key milestones, leveraging firm resources and skills to execute on plans, and efficiently deploying the solution across the Alternatives Operations team.

The alternatives platform is a growth focus for BlackRock and this is an exciting opportunity to join a growing team in a fast-paced work environment.

Role Responsibility

The responsibilities of a Vice President or Associate in the Business Management Group include:

Fee Expertise and Calculations

•Build out complex waterfall models including preferred return, recycling capital, clawback, and realized and unrealized waterfalls

•Interpret complex fee agreements and other legal documentation to ensure timely and accurate fee calculations

•Create, maintain, and/or review fee models, in keeping with the applicable fund terms

•Participate in new business discussions with prospective and existing clients around fee structures

Project Management and Oversight

•Lead the continuous assessment of the oversight model to ensure waterfalls follow legal documents

•Lead the continuous assessment of ensuring 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

•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

•Ensure strict adherence with product policies and guidelines to ensure all legal, compliance, and audit standards are met

•Effectively communicate complex concepts and procedures to all levels throughout the firm

Technology and Future State

•Drive the technology requirements for new and existing fee enhancements, including appropriate test planning and rollout of process

•Partner with senior management and technology groups to develop a strategic solution to automate complex waterfalls

•Build and maintain a strong knowledge of Aladdin infrastructure and the future roadmap

•Occasional travel between the East Coast offices including Princeton and New York

Experience

Minimum Qualifications

•4 years of work experience in financial services within alternative investments

•Understanding of Private Equity and fund of funds waterfall structures

•Complex modeling ability with experience in carried interest and management fee calculations

•The ability to read, understand, and follow complex partnership agreements and offering materials

•Strong project management and time management skills

•The ability to prioritize, multi-task, and work independently

•Excellent communication, presentation skills, and comfort in senior management communication

•Outstanding academic achievement, broad based work experience, and demonstrated leadership experience

•Creativity with an analytical mind and openness to using technology to solve problems

•Entrepreneurial spirit that is willing to take on additional responsibility quickly

Preferred Qualifications

•Management reporting and/or investment partnership accounting experience

•Proficiency with a coding language such as VBA, SQL, or Python.

•Proficiency with Investran

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, disability, veteran status, and other statuses protected by law.

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 criminal histories in a manner consistent with the requirements of the law, including any applicable fair chance law.