Private Equity / Hedge Funds Fee Oversight Vice President | Princeton or Wilmington Private Equity / Hedge Funds Fee Oversight Vice  …

BlackRock
in Princeton, NJ, United States
Permanent, Full time
Last application, 17 Sep 20
Competitive
BlackRock
in Princeton, NJ, United States
Permanent, Full time
Last application, 17 Sep 20
Competitive
Private Equity / Hedge Funds Fee Oversight Vice President | Princeton or Wilmington
Description

About this role

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 $7 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 Global Accounting and Product Services (GAAPS) division is responsible for providing operational support to BlackRock's portfolio management teams and clients.  GAAPS is central to business operations in providing subject matter expertise, monitoring fund administrator service delivery in relation to fund accounting and financial reporting, monitoring operational capacity for new products, supporting projects regarding product launches and liaising with fund administrators, auditors, fund directors and portfolio managers.  The group comprises of a number of teams and is organized both functionally and regionally.  This position is within the Fee Oversight Team.The Global Accounting and Product Services (GAAPS) division is responsible for providing operational support to BlackRock's portfolio management teams and clients. GAAPS is central to business operations in providing subject matter expertise, monitoring fund administrator service delivery in relation to fund accounting and financial reporting, monitoring operational capacity for new products, supporting projects regarding product launches and liaising with fund administrators, auditors, fund directors and portfolio managers. The group comprises of a number of teams and is organized both functionally and regionally. This position is within the Open-End NAV Oversight team supporting alternatives in the US.

The Global Accounting and Product Services (GAAPS) division is responsible for providing operational support to BlackRock's portfolio management teams and clients. GAAPS is central to business operations in providing subject matter expertise, monitoring fund administrator service delivery in relation to fund accounting and financial reporting, monitoring operational capacity for new products, supporting projects regarding product launches and liaising with fund administrators, auditors, fund directors and portfolio managers. The group comprises of a number of teams and is organized both functionally and regionally. This position is within the Open-End NAV Oversight team supporting alternatives in the US.

The Fee Oversight Team within Alternatives Operations is focused on working with the relevant stakeholder 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 e ngagements are high profile initiatives which require team members to have senior level exposure and play an active role in shaping 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 Performance and Management fees and complex waterfalls.  This includes effectively understanding the business and specific issues that need to be addressed, developing a strategy, tracking key milestones, leveraging firm resources and skills to execute on plans, and efficiently deploying the solution across the Alternatives Operations team.  Specific responsibilities include:

Carried Interest and/or Incentive Fee Expertise

•Understand incentive fee calculations for hedge funds and carried interest waterfall calculations for closed end funds

•Review existing unrealized and realized waterfall models which include preferred return, recycling capital, carried interest and clawback

•Partner with internal teams and third-party administrators to build and/or review fee calculations for funds recently launched funds

•Interpret complex fee agreements and other legal documentation such as LPAs to ensure timely and accurate fee calculations

•Participate in new business discussions with Product and prospective and existing clients related to fee structures

Project Management and Oversight

•Lead the continuous assessment of the oversight model to ensure fee calculations follow the governing legal documents

•Lead the continuous assessment to ensure that the Alternatives Operations team operates within the best in class control environment

•Understand the various Alternatives strategies within BlackRock Alternative Investments (BAI) and the challenges faced by each team

•Understand the alternatives industry and how changes to that industry will impact BAI

•Ensure new funds are onboarded within the best in class control framework

•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 enhancements, including appropriate test planning and rollout of process

•Build and maintain a strong knowledge of Aladdin infrastructure and the future roadmap

•Occasional travel between the East Coast offices including Princeton, Wilmington, and New York

Experience

Minimum Qualifications

•7-10 years of work experience in financial services, 5+ years alternative investments preferred

•Understanding of Hedge Funds and/or Private Equity and fund of funds waterfall structures

•Complex modeling ability with experience in carried interest and management fee calculations

•The ability to read, understand, and follow complex partnership agreements and offering materials

•Strong project management and time management skills

•The ability 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

Preferred Qualifications

•Proficiency with eFront

•Management reporting and/or investment partnership accounting experience

•Proficiency with a coding language such as VBA, SQL, or Python.

•Experience guiding junior staff

About BlackRock

BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of June 30, 2020, the firm managed approximately $7.32 trillion in assets on behalf of investors worldwide.

For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock

BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer.  We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.

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.
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