Product and Private Markets Compliance

About this role

BlackRock is one of the world’s preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. BlackRock offers a range of solutions – from fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.

Business Unit Overview:

BlackRock's Compliance Department protects BlackRock’s reputation and provides client focussed advice. The department is a dynamic environment with the team focused understanding and advising on the impact of regulation in our business, with the objective of:

·         Actively participating in business decisions to champion our clients’ interests and assist the business in translating compliance requirements and expectations into their daily work;

·         Putting client interests at the centre of everything we do;

·         Ensuring adherence to, and providing advice on, applicable laws, regulations and BlackRock Compliance policies;

·         Collaborating with the business to position Compliance centrally into their daily work;

·         Encouraging and improving the compliance culture within BlackRock;

·         Providing thought leadership, analysis and advice on the impact of the regulatory framework on the business and its clients

·         Developing and encouraging excellence within the Compliance team; and

·         Actively developing the skills and careers of each member of the Compliance team

Role Description:

We currently have an associate position within our Line of Business Compliance team in Budapest in our Product and Performance team. 

Our Product Compliance team works in partnership with other BLK functions and businesses across EMEA, to support the regulatory risks and compliance of our fund offerings across multiple jurisdictions including Ireland, Luxembourg, UK and Netherlands, incorporating both active and passive strategies across multiple asset classes. 

The team provides professional compliance advice and oversight to BlackRock’s Global Product Solutions team and Portfolio Management Group within the EMEA Region in respect of BlackRock’s EMEA funds. This includes provision of advice on EU and UK domiciled UCITS and AIFs and Life funds amongst other tasks including advising on and interpreting investment guidelines in relation to investment decisions, supporting product implementation as part of product launch processes, engaging with third party trustees and depositaries and fund management company boards.  The successful candidate will also have the opportunity to engage with a broad range of business divisions including other EMEA Compliance teams and investment staff in relation to the regulatory framework.  In addition, successful candidates will have the opportunity to further develop and enhance procedures within the team to ensure consistency and operational excellence.

The role will predominantly involve the provision of compliance advice for the funds under its Luxembourg UCITS and Management Company and AIFM which manages a large number of funds across multiple asset classes and investment styles.

The ideal candidate will be able to demonstrate relevant regulatory knowledge and experience within financial services having gained at least 3-5 years meaningful experience with a ‘buy-side’ asset manager.  Ideally, the candidate will have proven experience working with EU fund regulation such as UCITS and knowledge of SFDR and PRIIPs.

Key responsibilities/elements of role will include:

·         Collaborating closely with portfolio managers and other investment staff including dealers in relation to the regulatory framework, including advising on UCITS and ESG disclosure requirements, including eligibility, limits and concentration, conduct of business requirements and the application of BlackRock compliance policies;

·         Providing advisory support in relation to the coding framework for our EMEA domiciled fund ranges;

·         Working on projects to support the product pipeline including new fund launches, closures, mergers and fund changes. This typically involves reviewing offering documentation, preparation of fund manager guidelines and providing advice in line with sustainability framework/Regulation;

·         Provision of proactive qualitative compliance advice, including to the Irish Board(s);

·         Being responsible for and liaison with third-party service providers, including trustees, auditors, administrators and fund accountants;

·         Coordinating projects that involve cross Line of Business teamwork, including for example regulatory change developments.  Reviewing regulatory developments in areas of responsibility and involvement as the compliance partner;

·         Implementation of regulatory change regarding fund regulation (such as AIFMD, UCITS, SFDR, PRIIPs)

·         Reporting and communication on Compliance matters to senior management, corporate and/or fund boards and BlackRock business partners;

·         Maintain relationships with key partners within the business including but not limited to areas of responsibility and attending regular management meetings as appropriate.

Knowledge/experience:

Ø  The ideal candidate will have compliance advisory experience within a ‘buy-side’ asset manager, excellent interpersonal skills, combining energy, passion, resilience, resourcefulness, tact and above all, good judgement under pressure;

Ø  Strong communication skills and ability to articulate sophisticated situations to senior business representatives;

Ø  Develop robust strategies to lead a changing regulatory environment, to allow the business to make more informed decisions on the basis of sound evidence and analysis;

Ø  Build and maintain balanced & successful relationships;

Ø  Self-motivated and solutions-driven with ability to utilise initiative and think laterally to navigate problems;

Ø  Strong presentation skills and effective in writing;

Ø  Persuasive and influential in provision of Compliance advice to an internal client base;

Ø  High standard of accuracy and excellent attention to detail;

Ø  Ability to collaborate across teams/functions and also work autonomously with minimal direct supervision;

Ø  Knowledge of SFDR is not a requirement but a distinct advantage;

Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

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.

Guidance on AI use for candidates

At BlackRock, AI has long been part of how we work – enhancing decision-making, improving operations, and helping us deliver better outcomes for clients. We encourage candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during our interview process, we want to focus on getting to know you through your own experiences, thinking, and judgment. To support you, we’ve provided guidance on when and how to use AI during our hiring process so you can approach each step with confidence and showcase your best self.

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.

To learn more about BlackRock, please visit Careers.BlackRock.com. We also encourage you to get to know us on LinkedIn, Instagram, YouTube, X, and TikTok.

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.