About this role
Want to elevate your career by being a part of the world's largest asset manager? Are analyzing complex problems and identifying solutions your passion? Look no further! BlackRock is an equal opportunity employer who value diversity in our company. We are pursuing a Vice President in the Cash Services team within Outsourced Platform Services. We recognize that strength comes from diversity, and will embrace your rare skills, eagerness, and passion while giving you the opportunity to grow professionally and as an individual. At BlackRock, we strive to empower our employees and actively engage your involvement in our success. Come join our team and experience what it feels like to be part of an organization that makes a difference!
Team Overview & Job Purpose:Since 2000 and 2006 respectively, BlackRock has been providing Investment Accounting and Middle Office services. With a client base of 17, we handle approximately $2.7 trillion in assets across 250,000 positions. Our team processes over 300,000 trades and reconciles more than 1 million transactions across 1,700 portfolios annually. To ensure scalability, risk reduction, and exceptional client experiences, we have introduced OPS (Outsourced Platform Services).
At the heart of our outsourced services are the functional teams that support our clients’ portfolios, assets, and transactions daily.
The Outsourced Platform Services - Cash Services team is a core group within Tech & Ops of dedicated professionals who are essential to the investment process by ensuring that all middle office clients’ cash & position data are accurate for processes including investment management, analytics, compliance, and regulatory. Cash types include, but are not limited to, equities, fixed income, OTC derivative positions (swaps, swaptions, FXs, and synthetics) and collateral.
The roles and responsibilities will include actively managing risk and exposure for our clients by ensuring the investment book of record is reconciled with external record holders daily. The role requires an understanding of the mechanics of the reconciliation process, exception management, client service, troubleshooting issues, driving innovative enhancements, data analysis, maintaining documentation, assisting management in leading processes, and recommending improvements to ensure efficient and accurate processes.
The Vice President is a senior member of the team responsible for managing risk for the firm by overseeing cash reconciliations and exception management processes. We ensure that BlackRock data is in line with custodians, counterparties and other prime record holders every day. You will be a people manager within the team, understand all of the reconciliation processes, ensure differences are raised and resolved timely, troubleshoot and identify root causes. You will collaborate with colleagues in the US, EMEA, & APAC regions and work with technology support to incorporate enhancements and recommend / drive operational change and improvements.
Key Responsibilities:- All facets of people management to be performed including: coaching and development of staff, leading and motivating as well as performing goal-setting, 1-1s, mid-year and year-end staff review
- Key contributor to the management team ensuring appropriate staffing model, depth charts and succession plans are assessed across the location
- Review of location initiatives and working with other members of the leadership team to define the criticality and priority
- Review cash exceptions daily to ensure the team is appropriately raising and resolving.
- Identifying, leading and mitigating operational risks and raising risk and service issues on a timely basis
- Understanding and adherence to all regulatory requirements
- Lead and empower team towards finding opportunities for process enhancements and other strategic operational enhancements that facilitates operational processes or mitigates operational risk
- Accurately record metrics related to responsibilities to enable management to have a good view of team productivity and efficiency
- Embrace change and participating/ leading efficiency and capacity-building initiatives, including automation/ standardization efforts, cost/benefit analysis and computing the resulting project value
- Understand upstream processes impactful to the reconciliation and develop ability to correlate the effect of change
- Build and maintain strong interactions with key internal & external partners including; leading & coordinating problem resolution
- Embracing the BlackRock Principles and role modeling these behaviors to other team members.
Experience Required
- Candidate should possess a minimum of 5 years of financial services experience and a good understanding of Financial Markets, preferably within the Investment Management, Fund Accounting or Global Custody environment; previous experience in custody reconciliation is preferred
- Minimum of 3 years of supervisory experience; in leading teams of professionals, staff development, coaching and performance assessments
- Proficiency in Microsoft office products (with an emphasis on Excel) or other programming languages and an aptitude for learning new applications
- Strong, effective analytical and problem-solving skills
- Excellent communication skills to efficiently articulate solutions to internal and external partners
- Ability to multi-task and balance requests without losing sight of overall objectives and timescales.
- Demonstration of strategic & tactical delivery in previous role(s) which enhanced the efficiency, risk management and control oversight of team
- Exceptional decision-making skills and ability to communicate effectively with senior management
- Ability to work in a fast paced, rapid changing, deadline driven environment
- Strong initiative to follow up on outstanding issues – identify what needs to be done, take action and see through to resolution
Our benefits
To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
Our hybrid work model
BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.
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What We Do
As the world’s largest asset manager, BlackRock partners with investors around the globe to help them (and those on whose behalf they invest) plan for life’s most important goals – like retirement, home ownership and their children’s education. Our clients range from governments, foundations and other large institutions to those investing on behalf of individuals, including firefighters, nurses, teachers and factory workers. BlackRock was founded with the idea of creating a better asset management firm — one that was purpose-driven, focused on clients and risk management, and propelled by data and technology. Our breakthrough Aladdin® platform is BlackRock’s technological backbone, helping investors see and manage their whole portfolios in one place – from constructing investments to monitoring risk and executing trades. Used by hundreds of external institutions around the world, Aladdin combines powerful analytics and a common language to help investment teams make faster, more informed decisions across public and private markets. It’s a key part of our business and one of the reasons we’re trusted to manage more assets than any other investment manager today. At BlackRock, we challenge conventions and raise the bar for what’s possible. We harness technology to unlock new solutions, simplify complexity, and deliver investment strategies that meet people where they are. Whether it’s retirement planning, wealth building or navigating market shifts, we’re here to help clients invest more easily, more affordably and with more choice as we chart a path toward financial well-being together. Learn more: Careers.BlackRock.com
Why Work With Us
Without our people, technology is irrelevant. When we combine the power of people with the power of technology, we amplify our ability to create better outcomes for our employees, clients, shareholders and society alike.
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