Associate, Fee Onboarding & Calculation Oversight - Delaware

About this role

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

You need...

• 3 or more 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

• Proficiency with eFront and Investran

• Management reporting and/or investment partnership accounting experience

For Wilmington, DE Only the salary range for this position is USD$85,000.00 - USD$117,500.00 . Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

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 performan