Legal & Compliance - Head of Compliance Risk Management, MD

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 analys