Blackstone Credit & Insurance - Product Control, AVP

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1.1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.
 

Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

Job Title: BXCI Product Control, AVP

The BXCI Product Control Group ensures data integrity for all financial data by assessing profit and loss and booking standards of the business' positions and trades across the BXCI fund platform which includes RIC vehicles, hybrid and PE funds. The successful candidate’s responsibilities will include:

• Perform daily, monthly and quarterly profit and loss (P&L) reconciliations and analyses between various BXCI systems
• Assess new private investments for appropriate accounting treatment and ensure all relevant deal information in data warehouse is accurate
• Ensure the accounting treatment of investment restructurings are accurately booked and properly flowing into downstream systems
• Work collaboratively with other groups, including Operations, Risk, Tax, Technology and Accounting
• Prepare P&L and other ad-hoc financial analyses
• Review fair valued prices and accruals on various types of financial instruments to ensure they are accurate in BXCI systems and appropriately calculating P&L
• Work and drive innovation-related initiatives, including workflow automation and data analytics projects to improve functional effectiveness and efficiencies
• Review and advise corrections to reporting based on reconciliations between the Accounting Team, Operations and third-party administrators to ensure the data integrity of accounting information
• Review daily cash reconciliations prepared by Operations between prime brokers/custodians and the BXC data warehouse for breaks that could have a potential P&L impact 
• Review monthly attribution report and work with relevant group to resolve any variances
• Prepare and report daily cash rolls to Portfolio Management team in a timely manner

Qualifications:

• Bachelor’s degree in Economics, Finance or Accounting preferred
• 5+ years’ experience with either prior finance or fund accounting experience or direct Product Control experience required with exposure to hedge funds and/or private equity
• Experience with various credit financial instruments (loans, revolvers, bonds, repos, CDS and other derivatives). 
• Strong analytical skills and detail oriented
• Ability to work in a dynamic environment and handle multiple projects
• Possesses a strong work ethic, professional integrity, a positive attitude
• Highly organized
• Strong communication skills both written and verbal
• Exceptionally strong Excel skills

The duties and responsibilities described here are not exhaustive and additional assignments, duties, or responsibilities may be required of this position. Assignments, duties, and responsibilities may be changed at any time, with or without notice, by Blackstone in its sole discretion.

Expected annual base salary range:

$125,000 - $185,000

Actual base salary within that range will be determined by several components including but not limited to the individual's experience, skills, qualifications and job location. For roles located outside of the US, please disregard the posted salary bands as these roles will follow a separate compensation process based on local market comparables.
Additional compensation: Base salary does not include other forms of compensation or benefits offered in connection with the advertised role.

Blackstone is committed to providing equal employment opportunities to all employees and applicants for employment without regard to race, color, creed, religion, sex, pregnancy, national origin, ancestry, citizenship status, age, marital or partnership status, sexual orientation, gender identity or expression, disability, genetic predisposition, veteran or military status, status as a victim of domestic violence, a sex offense or stalking, or any other class or status in accordance with applicable federal, state and local laws. This policy applies to all terms and conditions of employment, including but not limited to hiring, placement, promotion, termination, transfer, leave of absence, compensation, and training. All Blackstone employees, including but not limited to recruiting personnel and hiring managers, are required to abide by this policy.

If you need a reasonable accommodation to complete your application, please email Human Resources at [email protected].

Depending on the position, you may be required to obtain certain securities licenses if you are in a client facing role and/or if you are engaged in the following:

• Attending client meetings where you are discussing Blackstone products and/or and client questions;

• Marketing Blackstone funds to new or existing clients;

• Supervising or training securities licensed employees;

• Structuring or creating Blackstone funds/products; and

• Advising on marketing plans prepared by a sales team or developing and/or contributing information for marketing materials.

Note: The above list is not the exhaustive list of activities requiring securities licenses and there may be roles that require review on a case-by-case basis. Please speak with your Blackstone Recruiting contact with any questions.
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