Alternatives Fund Accounting - Vice President

About this role

Technology & Operations

Global Fund & Accounting Services: Alternatives Operations supports BlackRock Alternative Investments (BAI) and over $110B of assets globally. BAI takes a dynamic approach to alternative investments, creating investment vehicles that increasingly capitalize on evolving opportunities in fast-changing markets. We offer clients strategies designed to provide returns with low correlations to the broad equity and bond markets, including private equity, real estate equity and debt, hedge funds of funds, single strategy hedge funds, long-only absolute return strategies, commodities and structured products. Our alternative investment capabilities are fully integrated into BlackRock, allowing investment teams to capitalize on the firm’s considerable resources in areas such as risk management, product development, client service and operational support.

Team Overview

The purpose of the GFS Alts Team is to act as the interface between the funds' investment professionals, investors, and external contacts, such as accounting outsource providers, auditors, tax professionals, and third party distributors, etc. for BlackRock’s alternative funds platform. The GFS Alts India Team will focus on adding value by resolving issues and providing product oversight and coordination of Administrators for many of our funds, which can invest in private investments, including fund of PE funds and/ direct private equity co-investments.

Role Responsibility

• Follow the team’s effective control environment to ensure adherence to established accounting policies and procedures. 

• Identify risk and escalate in a timely manner.  Proactively identify and recommend improvements to internal and external controls and processes. 

• Review of Monthly NAV Calculations produced by an external Fund Administrator including performance fees and/or waterfalls, capital accounts where applicable and expense and budget reviews

• Creating and maintaining performance fee, waterfall and rebalancing models

• Meeting client reporting needs and responding to ad-hoc requirements

• Build strong relationships with all Business Operations and BLK teams as needed, including but not limited to, Financial Reporting, Regulatory Reporting, Portfolio Management, Global Client and Sales Support Group, Asset Management, Information Systems,  Marketing, Risk Management, Trade Operations, Transer Agency Oversight and Legal to effectively deliver on the business’s evolving data and accounting needs on an ad hoc and recurring basis.

• Participate in the review of interim and year end financial statements. Work with the Financial Reporting team and external auditors for the audit process to ensure accurate and timely delivery of audited financial statements.

• Work closely with the Transfer Agency Oversight team for the investor level related allocations and issues arising.

• Manage the expenses payment to third party vendors through the centralised Vendor Invoice Management system.

• Participate in projects on the Alternative products such as fund launches, closures, mergers or regulatory change, contributing from an Accounting perspective and working closely with the Strategic Product Management or other groups to deliver these projects cleanly.

• Managing the Service Provider relationships to ensure robust and effective delivery on all aspects of the product

• Review of KPIs and attendance at Monthly Service Review Group meetings

• Carry out annual Health Checks on Service Providers and identify and process or control issues.

Experience

• The Associate must be able to work independently, and as part of a team both within the Fund Administration team and across functions.  The position requires the ability to handle multiple tasks, meet reporting deadlines and flexibility.  The employee must also possess accounting and analytical skills and be computer literate

• The Associate must have strong interpersonal and communication skills and the ability to manage Service Providers to high standards.

• Attention to detail is a key requirement of the role and the ability to identify risk and escalate appropriately.

• The associate should have a strong working knowledge of hedge fund administration including the processes which contribute to NAV and performance fees calculation models.

• An Accounting qualification such as ACCA or CIMA is preferred and a minimum of 3 years Fund Accounting in the alternatives sector with an emphasis on closed ended products is required.

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; 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 performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.

About BlackRock

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.

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

BlackRock is proud to be an Equal Opportunity Employer.  We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.