About this role
About BlackRock
Elevate your career by joining the world's largest asset manager! Thrive in an environment that promotes positive relationships and recognizes outstanding performance! We know you want to feel valued every single day and be recognized
for your contribution. At BlackRock, we strive to empower our employees and effectively engage your involvement in our success. With over USD $13 trillion of assets we have an outstanding responsibility: our technology and services empower millions of investors to save for retirement, pay for college, buy a home and improve their financial well-being.
Team Overview
The Fee Oversight Team within Alternatives Operations is passionate about working with the relevant partner groups across the firm ranging from long-term strategic and tactical solutions to the complex issues presented by managing and operating alternative products. The team’s engagements are high profile initiatives which require team members to have senior level exposure and play an active role in crafting the future state operating model of Alternatives Operations.
Role Responsibilities
We are looking for a candidate to work as part of a global team that will be able to make an immediate contribution to various projects with a specific focus on Management and Performance fees and complex waterfalls. This includes effectively understanding the business and specific issues that need to be addressed, developing a strategy, tracking key achievements, using firm resources and skills to execute on plans, and efficiently deploying the solution across the Alternatives Operations team. Specific responsibilities include:
Fee Expertise and Calculations
Review existing unrealized and realized waterfall models which include preferred return, recycling capital, carried interest and clawback
Collaborate with team-members and third-party administrators to build and/or review fee calculations for funds that have launched recently
Interpret complex fee agreements and other legal documentation to ensure timely and accurate fee calculations
Participate in new business discussions with prospective and existing clients around fee structures
Project Management and Oversight
Lead the continuous assessment of the oversight model to ensure fee calculations follow the governing legal documents
Ensure that the team operates within the best in class control environment
Understand the various Alternatives strategies within BlackRock Private Funds and the challenges faced by each team
Understand the alternatives industry and how changes to that industry will impact Private Funds
Ensure new funds are onboarded within an outstanding control framework, ensuring external service providers have strong controls around fee calculations
Ensure strict adherence with product policies and guidelines to ensure all legal, compliance, and audit standards are met
Effectively communicate complex concepts and procedures to all levels throughout the firm
Technology and Future State
Partner with internal teams to build and troubleshoot management and performance fee calculations in eFront
Drive the technology requirements for new and existing fee improvements, including appropriate test planning and rollout of process
Build and maintain a strong knowledge of Aladdin infrastructure and the future roadmap
Experience
3-5 years of work experience in financial services, 2+ years alternative investments preferred
Complex modeling ability with experience in incentive fees, carried interest and management fee calculations
Capability to read, understand, and follow complex partnership agreements and offering materials
Aptitude to prioritize, multi-task, and work independently
Excellent communication, presentation skills, and comfort in senior management communication
Outstanding academic achievement, broad based work experience, and
demonstrated leadership experience
Creativity with an analytical mind and openness to using technology to solve problems
Entrepreneurial spirit that is willing to take on additional responsibility quickly
Proficiency with eFront
Proficiency with Investran
Management reporting and/or investment partnership accounting experience
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 workplace. We are committed to equal employment opportunity to all applicants and existing employees, and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement.
BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email Disability.Assistance@blackrock.com. All requests are treated in line with our privacy policy.
BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.