Oversight and Control Director
The Investment Operations team plays a key role in the continued success of BlackRock including supporting the continued business growth, managing the control environment and reducing risk, increasing efficiencies and strengthening relationships with our internal and external clients.
The global team is responsible for the middle office and operations functions supporting BlackRock's business across all products and funds which trade a variety of derivatives. These cover all asset classes including credit, rates, inflation, and equity derivatives. Products traded include IRS, Swaptions, CDS, Index, Structured Credit, Inflation Swaps, Repo, TRS (on a variety of underlyings), FX variance and Equity Variance Swaps across a range of G10 and emerging market currencies.
We are looking for high-quality candidate to join the team and help deliver on our key operational goals including our medium and longer-term change and strategic agenda and supporting the ambitious business plans in this area. You will be working as part of the Documentation team, and liaising closely with other business operations teams, including legal and compliance, portfolio managers and client relationship teams globally, as well as external counterparts.
This is an excellent opportunity to learn about the investment management business as well as the derivative documentation supporting the investment activity at the largest money-manager in the world.
The Derivative Documentation role is based in the New York Office. The successful candidate would join the team that are responsible for the functions listed below and would have further opportunity to develop and work across other roles as their career progressed. The core functions are:
- Accountable for inputting legal and derivative data into DECO system, e.g. dealer ratings, minimum transfer amounts and call times for collateral.
- Fully utilize all BlackRock internal systems (Aladdin) and ensure information is up to date and relevant.
- Centrally co-ordinate global give-up agreements via EGUS and manage the process on a day to day level.
- Responsible for maintaining the collateral platform to ensure the ISDA/CSA terms are interpreted and accounts are assigned accurately based on the legal agreements.
- Key liaison between multiple business lines globally and the Investment Operation teams in a number of locations.
- Responsible for overseeing strategic architecture and design on platform enhancements to operational processes.
- Develop critical internal relationships with the Trading teams, portfolio managers, Client Relationship Managers, Compliance and Legal.
- Play a significant role in maintaining and managing relationships with counterparties documentation and on-boarding teams.
- Gain a full comprehensive understanding of BlackRock's operational processes and systems relating to Derivative Operations.
- When required be the Derivative Documentation representative for external parties including clients, auditors and consultants.
- Implement derivative operating policies.
Experience required / to be developed
- Good knowledge and experience of fixed income and equity products including derivatives – in particular knowledge of credit, interest rate, inflation and equity derivatives is advantageous
- Business knowledge - understanding of the application of derivatives within an investment strategy, specifically the relevant risks and appropriate controls required across the transaction lifecycle
- Demonstrate an understanding of operational and credit risks, and the use of collateral and margining as tools for risk management.
- Experience in middle office or operations at a top-tier investment manager, hedge fund or investment bank
- Functional expertise on OTC confirmations, ISDA-based confirmations and collateral management valuable
- Knowledge of derivative documentation, particularly ISDA/CSAs and collateral management, would be beneficial
Skills required / to be developed
- Willingness to learn and desire to develop an in-depth knowledge of derivatives, market practices regulations, as well as shaping BlackRock's approach to derivatives products processes.
- Structured and organized approach with a very strong attention to detail and diligent work ethic
- Enthusiastic and have a desire to learn. In addition to BlackRock-managed development, the individual should also seek out opportunities for further development of knowledge, and should be able to evidence this in their current role
- Must have excellent communication skills both written and verbal, and be comfortable communicating with peers and senior management
- Takes initiative, is ambitious and looks to develop self
- Willingness to participate, positive attitude, flexible approach and excellent teamwork skill
- Understands needs and sensitivities of internal and external clients and proactively ensures these are met
- Process re-engineering – ability to challenge existing processes and come up with clean and quality approaches to managing business requirements, resolve issues and problems
- Prior experience of project management skills and disciplines a benefit
- Ability to juggle a number of tasks whilst keeping focused on priorities is essential
- Strong excel, word and power-point skills required
- Ability to work under tight time frames whilst maintaining a high level of deliverables to management and clients.
BlackRock is proud to be an Equal Opportunity/Affirmative Action Employer--M/F/D/V.
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.
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