About this role
Cash Operations is a group of dedicated professionals who are essential to the investment process by ensuring that all BlackRock cash data is 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. Our team provides information services and solutions in support of all BlackRock and BlackRock Solutions businesses. The roles and responsibilities will include actively managing risk and exposure for BlackRock by ensuring the investment book of record reconciled with external prime record holders 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 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 lead the regional 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.
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
Has experience working with Internal as well as external audit, Risk and Control function.
Has experience managing staffing and reporting for global functions.
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.
Identifying control gaps and putting tactical as well as strategic solutions in place.
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.
Experiences:
Candidate should possess a minimum of 7 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 5 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 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.