About this role
BlackRock’s Finance team is responsible for the accounting, financial reporting, tax compliance and control of the financial resources of BlackRock and its subsidiaries. The Finance Group is comprised of Corporate Controllers, Financial Planning and Analysis, Treasury, Tax, Finance Controls and Investor Relations. The GP Accounting & Administration group is a part of the Corporate Controllers team and plays an integral part in the accounting, administration and reporting of BlackRock’s alternative product carried interest revenue sharing programs for the Firm’s alternative investment managers.
The group partners with Human Resources, Product Tax and Legal to support 140+ carried interest plans and is primarily responsible for preparing the accounting records, processing participant capital distributions, payments, providing capital statement reporting, preparing management reports and regulatory financial statements and preparing all corporate accounting entries and reconciliations.
GP Accounting & Administration is building a new team in Mumbai to support tremendous growth in BlackRock’s alternative products and carried interest programs. The Mumbai team will help to build out our management, cross-GP and partner portal reporting capabilities and to support our partner payments with the goal of helping the larger group become a world class service organization. The position reports to the Vice President – GP Accounting & Administration in New York.
YOUR DAILY TASKS MAY INCLUDE:
- Partnering directly with a multi-functional and multi-national team that includes Portfolio Management teams, Human Resources, Tax, Legal, Revenue and Compensation Accounting and third-party fund administrators, to administer the Company’s carried interest plans.
- Communicating with management of all levels throughout the organization to obtain a complete understanding of carry plans from inception through dissolution and documenting plan details.
- Maintaining accurate and timely plan data by General Partner entity, plan and participant. Establish open communication lines with appropriate partners, especially in Human Resources.
- Maintaining US GAAP and tax balances for reporting in the Oracle General Ledger and for reporting to plan participants.
- Directly supervising three analysts.
- Producing periodic (quarterly/annual) management reports on the Company’s General Partner entities and related carried interest allocations to participants.
- Producing and distributing periodic participant capital statements and payments to participants.
- Establishing regular communications with the Revenue Accounting and Compensation Accounting teams regarding recognition of carried interest revenue and expense.
- Establishing and reconciling operating and reserve bank accounts.
- Preparing payment requests for General Partner capital calls, tax payments and other invoices.
- Preparing monthly journal entries, expense allocations and account reconciliations.
- Assisting with ad hoc projects and reporting requests.
- An accounting degree.
- 3-5 years’ experience working within a financial services or banking platform, with fund administration duties a plus.
- Strong verbal and written communication skills and ability to clearly communicate with global partners.
- Chartered accountant or chartered accountant track.
- Experience in the preparation of internal management reports, tax reporting and/or financial statements, particularly in a large, multi-national company.
- Supervisory experience.
- A proven track record of delivering quality results in a fast-paced, high volume environment.
- Strong organization skills and an attentiveness to detail while meeting critical deadlines.
- An ability to operate effectively in a changing landscape with multiple competing priorities
- A strong drive to continuously improve through technology solutions and innovation.
- Proficiency in the Microsoft Office suite.
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.
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
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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