Head of Derivative Operations
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 rigorous 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:
On behalf of BlackRock clients, Investment Operations is responsible for post execution support, and asset servicing, of products worldwide. Specifically, Investment Operations is responsible for trading operations, corporate actions and derivative operations, functionally. Our focus is on information integrity, leveraging global capacity and process, ensuring global operating consistency and the mitigation of risk. We service internal clients, in addition to working closely with external parties, such as custodians, prime brokers, dealers, fund administrators and other vendors.
As the head of Derivative Operations in the EMEA region, this role will be responsible for the management and strategic direction of the Derivative Operations function at BlackRock within the EMEA region and as part of the global function. This role will be a key contributor and leader within the Global Investment Operations senior leadership team.
The Global Derivative team is currently located in Wilmington, Edinburgh and Gurgaon, with additional support provided by OFS in India and by State Street Bank. Currently, core operational centers include Edinburgh, Wilmington and India.
Key Responsibilities:
- Scope of responsibilities includes oversight of derivative servicing activity; i.e. exchange traded derivative margining, OTC collateral management, periodic payments and swap portfolio reconciliations; across all 10,000+ BlackRock client portfolios.
- Manage regional staff of approximately 20 individuals and oversee functional performance in India (additional 20 individuals).
- Execute the completion of the global derivative operations footprint, including the building of a team in India.
- Implement a strategic derivative operations support model.
- Migrate derivative operations support for legacy BGI equity business from State Street Bank *US) to BlackRock’s Aladdin platform.
- Support and implement platform changes resulting from regulatory rule changes.
- Represent BlackRock in relevant industry forms
- Provide strategic direction for the development of the Aladdin Derivative support platform. This includes a robust risk monitoring environment to ensure all functions are performed routinely to minimize risk to BlackRock clients.
- Collaborate with key constituents, internally and externally, to ensure a globally consistent and tightly controlled environment
- Institute effective monitoring and controls to mitigate risk
- Provide regular updates to Investment Operations senior management
Knowledge/Experience:
- Bachelor’s degree in Accounting, Finance or Economics.
- Minimum 15 years of derivative operations experience.
- Regional leadership and functional oversight
- Strong organizational and interpersonal skills.
- Advanced level of operational processes, with specific understanding of risk and operating controls
- Strong communication skills - both oral and written; ability to communicate effectively with senior management, clients and external Providers.
- Successful leadership skills and experience managing global teams, including integrating and executing processes and controls across multiple locations.
- Relationship management skills for partnerships with internal client constituents and external service providers.
Significant experience effecting and managing change across a large organisation
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