Associate, Outsourced Platform Services (Delaware)

About this role

Want to elevate your career by being a part of the world's largest asset manager? Are analyzing complex problems and identifying solutions your passion? Look no further. BlackRock is currently seeking an Analyst to become part of our team. We recognize that strength comes from diversity, and will embrace your rare skills, eagerness, and passion while giving you the opportunity to grow professionally and as an individual.

At BlackRock, we strive to empower our employees and actively engage your involvement in our success. With over USD $11 trillion of assets, we have an extraordinary responsibility: our technology and services help millions of investors to save for retirement, college, buy a home and improve their financial well-being. Join our team and experience what it feels like to be part of an organization that makes a difference! 

TEAM OVERVIEW 
Since 2000 and 2006 respectively, BlackRock has been providing Investment Accounting and Middle Office services. With a client base of 17, we handle approximately $2.7 trillion in assets across 250,000 positions. Our team processes over 300,000 trades and reconciles more than 1 million transactions across 1,700 portfolios annually. To ensure scalability, risk reduction, and exceptional client experiences, we have introduced OPS (Outsourced Platform Services).  At the heart of our outsourced services are the functional teams that support our clients’ portfolios, assets, and transactions daily. 

The OPS 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. 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. 

ROLE RESPONSIBILITIES: 

• Ensure reconciliations are successfully completed and troubleshoot any discrepancies 

• Review cash exceptions daily including researching differences and resolving them in an accurate and timely manner 

• Ensure accuracy of published cash figures 

• Data analysis enhancing transparency, decision drivers and efficiency 

• Collaborate with internal/external stakeholders to ensure issues are being appropriately reviewed and progressing to completion 

• Develop expertise around team control mechanisms and reporting 

• Identify and coordinate escalation of priority issues 

• Actively participate in all team meetings including review of key risk and process indicators 

• Understand and adhere to all regulatory requirements impacting the reconciliation process 

• Ability to evaluate systems, procedures and make recommendations for improvement 

• Participate in various efficiency and capacity-building initiatives, including automation/ standardization efforts 

• Understand upstream processes impactful to the reconciliation and develop ability to correlate the effect of change 

• Maintain accurate process documents and train team members to ensure complete understanding 

• Collaborate cross-functionally with stakeholders (i.e. Accounting) to ensure alignment between the IBOR and ABOR reconciliation 

• Completion/sign off of key controls to ensure adequate oversight of risk management. 

QUALIFICATIONS: 

• Bachelor’s degree - concentration in Accounting, Finance, Business or Economics is preferred 

• Understanding of financial instruments with an emphasis on derivative products is preferred 

• Strong, effective analytical and problem solving skills 

• Data Analytics skillsets preferred inclusive of coding (VBA,SQL,PYTHON) and/or understanding of data science methods & implementation 

• Organized approach to ensure follow up on outstanding issues and identify appropriate action to be taken 

• Attention to detail to ensure a high degree of accuracy for all deliverables 

• Excellent communication skills to effectively articulate solutions to internal and external