About this role
The Cash Operations 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.
Job Purpose
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..
About the Role
The roles and responsibilities will include actively handling risk and exposure for BlackRock by ensuring the investment book of record reconciled with external providers daily. The role requires an understanding of the mechanics of the reconciliation process, exception management, troubleshooting issues, driving innovative enhancements, data analysis, maintaining documentation, assisting management in leading processes, and recommending improvements to ensure efficiency. Possess solid understanding of Trade life cycle. Comprehension of Cash management operations & OD tracking, differential treatments on Corporate actions as per market products of Fixed Income/Equity is important. Understand the role of external parties involved Custodian/Brokers/Market Data providers etc.
Key responsibilities:
Ensure reconciliations are effectively completed and troubleshoot any discrepancies, ensure accuracy of published cash.
Review cash & income exceptions daily including researching differences, resolving them in an accurate and timely manner.
Tasks and their procedures to be accurately followed resulting in appropriate exception investigation and assignment (internal or external) including all follow-ups until the exceptions are resolved. Ensure appropriate escalation protocols are followed, and we are intensifying timely in alignment with increasing age / risk.
Establish stake-holder ownership - coordinating with up/down stream teams for Income & Cash exception mgmt. Leading the conversation, formulating plan of action and follow through on action points.
Document and provide feedback for custodian/Broker reviews. Push for better service and data and hold our providers accountable to deliver. Call out to Management for issues that need focus / remediation if meeting engagement do not meet standards. Instances of delayed reporting, lack of conformity to set standard, latency in response time, delaying exception resolution should be tracked by stake-holder owner and shared on timely intervals.
Demonstrate understanding of how daily activities impact KRI volumes and what criteria deem an exception to be high risk and controllable. Be able to articulate impact on the KRIs and quantify how to positively contribute to the numbers through both quantitative and qualitative analysis.
Consistent, concise MI to be provided to appropriate audience. Agenda points to be communicated prior to each call with metrics produced to show progress and takeaways aligned with the frequency of the stake-holder engagement.
Drive & Participate in various efficiency and capacity-building initiatives, including automation/ standardization efforts using SQL, VBA, Python. Review available data reports and look out for trends/activities currently performed manually that can be proposed for enhanced auto match/auto post/autocode rules, also should know methods that will help quantify the impact of proposed automation.
Identifying, leading and mitigating operational risks. Raising risk and service issues on a timely basis, ensure issues are called out to management have been properly researched and reviewed. This includes providing details around investigation/steps taken so far, demonstration of engagement with relevant stakeholders and suggesting potential paths to resolution.
Understand and adhere to all regulatory requirements impacting the reconciliation process.
Understand upstream processes impactful to the reconciliation and develop ability to correlate the effect of change.
Qualifications:
1-4 years of overall experience in cash reconciliations.
Understanding of financial instruments with an emphasis across asset classes is helpful.
End to end understanding of both Cash and Asset Lifecycle in order to investigate and understand the root cause of breaks in cash or assets.
Strong, effective analytical and problem-solving skills.
Excellent proficiency in data and automation tools such as SQL, VBA, Python, JAVA and others to automate basic manual processes via NITE jobs and Pollers and trouble shoot existing ones
Knowledge of data Analytics tools like PowerBI to generate insights from Exceptions data & identify any automation opportunities or control gaps in process using data. Proficient in MS Excel
Attention to detail to ensure a high degree of accuracy for all deliverables. Organized approach to ensure follow up on outstanding issues and identify appropriate action to be taken.
Excellent verbal, written and interpersonal skills including ability to clearly articulate results of financial analyses as wells as issues to senior management and external parties.
Ability to multi-task and balance requests without losing sight of overall objectives and deadlines. Exceptional decision-making skills and communicate effectively with senior management.
Ability to work in a team environment and build strong relationships with colleagues and external contacts. Work in a fast paced, rapid changing, deadline driven environment with minimal direct supervision.
Our benefits
To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents 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, family status, gender identity, race, religion, sex, sexual orientation and other protected attributes at law.