Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1.1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X, and Instagram.
Compliance Risk Management (“CRM”) Overview
CRM sits centrally within Blackstone Compliance and is charged with identifying, assessing, and mitigating regulatory risk to our business. In coordination with the Chief Compliance Officers of the various business lines and heads of other central compliance functions, the CRM team monitors the effectiveness of Blackstone’s policies and procedures as applicable to our regulated entities globally. CRM helps ensure that our businesses are complying with their regulatory obligations and living up to the high ethical standards that Blackstone’s senior leadership has set for the firm.
CRM’s three primary areas of responsibility include:
Compliance Testing – Risk-based assessment and testing across the 40+ BX registered investment advisers and 300+ BX managed private and public investment funds
Regulatory Exam Oversight – Preparation for exams of our registered entities and project management support during active exams to ensure timely, complete and accurate responses
Strategic Initiatives – Leveraging the team’s central position and risk management lens, conceive and drive initiatives to enhance policies, streamline processes, and drive consistency across the compliance team
Job Description:
The successful candidate will lead the CRM function, including a team of approximately 5 professionals. They will be responsible for overall strategic direction of the team and prioritizing its focus areas enthusiastically as the business evolves and as regulatory developments occur. Among other things, this work will include (1) oversight of the testing function to ensure robust and risk-adjusted coverage across Blackstone’s compliance landscape, working cooperatively and in coordination with the firm’s Internal Audit function, (2) horizon scanning of key regulatory developments to inform training and calibration of risk, and (3) special projects that strengthen controls or improve the reliability and efficiency of processes, with support from Compliance professionals across the firm.
This role offers an opportunity for frequent and meaningful exposure to professionals in the business units and corporate functions across Blackstone, including senior leaders. As a result, the successful candidate must have strong critical judgment, adaptivity, experience, and the leadership skills necessary to educate and persuade stakeholders and to drive change. The successful candidate should also possess expertise in audit and operational frameworks, including the necessary skills to assess risks, design controls, and drive process improvements. Across these dimensions, the successful candidate must have familiarity with the asset management business and the relevant regulatory regime, including the Investment Advisers Act of 1940 and the Investment Company Act of 1940.
Among the more specific duties of the role are the following:
Lead the Compliance Risk Management team, fostering a culture of compliance and risk awareness across the organization.
Develop and implement a comprehensive compliance risk management framework aligned with business objectives and regulatory requirements.
Design and deliver compliance training programs to enhance employee awareness and understanding of compliance risks and obligations.
Lead investigations into compliance breaches and develop corrective action plans to address identified issues.
Monitor, assess, and coordinate Blackstone’s response to regulatory changes to ensure consistent interpretation, impact analysis, policy updates, and communication across all business units to maintain compliance and mitigate risk.
Develop and implement operational goals and key performance indicators (KPIs) for the CRM team.
Manage and establish guidelines for project management and execution to ensure the timely completion of CRM team deliverables.
Oversee the management of relationships with third parties (i.e., compliance consultants) retained to assist with CRM’s work, ensuring cost-effective sourcing and quality of service.
Create accountability and foster a strong, performance-oriented team culture.
Collaborate with cross-functional teams in Legal & Compliance and other corporate functions to improve efficiency and productivity across the organization.
Advise on best practices to promote compliance with all regulations and firm policies.
Proactively seek technology and tools to enhance the effectiveness of deliverables.
Establish productive relationships with business and enterprise professionals at all levels.
Manage professional development and career aspirations of team members and foster a business culture of excellence, professional integrity, and duty of care.
Qualifications:
Blackstone seeks to hire individuals who are highly motivated, team-oriented and intelligent, who thrive on challenges in a dynamic environment, and who have demonstrated excellence and achievements in their prior endeavors. In addition, the successful candidate should meet the following qualifications:
Professional integrity of the highest order
15+ years of experience in the asset management space that includes complex project management and auditing or forensic work
JD, CPA and/or CFA (preferred but not required)
Significant experience leading a team and independently driving initiatives
Proven experience in operational process improvement and strategic planning
Strong ability to build and maintain relationships with vendors and key stakeholders at all levels across the organization
Thinks critically and strategically to develop innovative recommendations to mitigate risks and add value
Excellent communication, leadership, and decision-making skills
Intelligent; understands difficult, complex compliance and business problems
Effectively persuades stakeholders with compelling insights and recommendations that drive meaningful change and enhance operational performance
Works well with colleagues to devise pragmatic and creative solutions
Prioritization, perspective and focus on critical tasks that add value
Excellent organizational skills and follow-through
Highly effective oral and written communication skills
Highly motivated, diligent and conscientious work ethic
Thrives in dynamic environments; demonstrates adaptiveness and a measured approach under competing priorities
Sound judgment and engenders trust in others
Leverages data analytics and insights to enhance testing program
Advanced Excel and PowerPoint
Proficiency in relevant software tools and understanding of data analysis, budgeting, and business operations
The duties and responsibilities described here are not exhaustive and additional assignments, duties, or responsibilities may be required of this position. Assignments, duties, and responsibilities may be changed at any time, with or without notice, by Blackstone in its sole discretion.
Expected annual base salary range:
$275,000 - $300,000Actual base salary within that range will be determined by several components including but not limited to the individual's experience, skills, qualifications and job location. For roles located outside of the US, please disregard the posted salary bands as these roles will follow a separate compensation process based on local market comparables.
Additional compensation and benefits offered in connection with the role consist of comprehensive health benefits, including but not limited to medical, dental, vision, and FSA benefits; paid time off; life insurance; 401(k) plan; and discretionary bonuses. Certain employees may also be eligible for equity and other incentive compensation at Blackstone’s sole discretion.
Blackstone is committed to providing equal employment opportunities to all employees and applicants for employment without regard to race, color, creed, religion, sex, pregnancy, national origin, ancestry, citizenship status, age, marital or partnership status, sexual orientation, gender identity or expression, disability, genetic predisposition, veteran or military status, status as a victim of domestic violence, a sex offense or stalking, or any other class or status in accordance with applicable federal, state and local laws. This policy applies to all terms and conditions of employment, including but not limited to hiring, placement, promotion, termination, transfer, leave of absence, compensation, and training. All Blackstone employees, including but not limited to recruiting personnel and hiring managers, are required to abide by this policy.
If you need a reasonable accommodation to complete your application, please contact Human Resources at 212-583-5000 (US), +44 (0)20 7451 4000 (EMEA) or +852 3656 8600 (APAC).
Depending on the position, you may be required to obtain certain securities licenses if you are in a client facing role and/or if you are engaged in the following:
Attending client meetings where you are discussing Blackstone products and/or and client questions;
Marketing Blackstone funds to new or existing clients;
Supervising or training securities licensed employees;
Structuring or creating Blackstone funds/products; and
Advising on marketing plans prepared by a sales team or developing and/or contributing information for marketing materials.
Note: The above list is not the exhaustive list of activities requiring securities licenses and there may be roles that require review on a case-by-case basis. Please speak with your Blackstone Recruiting contact with any questions.
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