Middle Office Cash Reconciliations, Analyst

About this role

Want to elevate your career by being a part of the world's largest asset manager? Are analyzing complex problems and identifying solutions your passion? Look no further. BlackRock is currently seeking an Analyst to become part of our team. We recognize that strength comes from diversity, and will embrace your rare skills, eagerness, and passion while giving you the opportunity to grow professionally and as an individual.

At BlackRock, we strive to empower our employees and actively engage your involvement in our success. With over USD $11 trillion of assets, we have an extraordinary responsibility: our technology and services help millions of investors to save for retirement, college, buy a home and improve their financial well-being. Join our team and experience what it feels like to be part of an organization that makes a difference!

Team Overview

Since 2000 and 2006 respectively, BlackRock has been providing Investment Accounting and Middle Office services. With a client base of 17, we handle approximately $2.7 trillion in assets across 250,000 positions. Our team processes over 300,000 trades and reconciles more than 1 million transactions across 1,700 portfolios annually. To ensure scalability, risk reduction, and exceptional client experiences, we have introduced OPS (Outsourced Platform Services).

At the heart of our outsourced services are the functional teams that support our clients’ portfolios, assets, and transactions daily.

The OPS Cash Operations team is a core group within Tech & Ops of dedicated professionals who are essential to the investment process by ensuring that all middle office clients’ cash & position data are accurate for processes including investment management, analytics, compliance, and regulatory. Cash types include, but are not limited to, equities, fixed income, OTC derivative positions (swaps, swaptions, FXs, and synthetics) and collateral. The roles and responsibilities will include actively managing risk and exposure for our clients by ensuring the investment book of record is reconciled with external record holders daily. The role requires an understanding of the mechanics of the reconciliation process, exception management, client service, troubleshooting issues, driving innovative enhancements, data analysis, maintaining documentation, assisting management in leading processes, and recommending improvements to ensure efficient and accurate processes.

Role Responsibilities:

• Ensure reconciliations are successfully completed and troubleshoot any discrepancies

• Review cash exceptions daily including researching differences and resolving them in an accurate and timely manner

• Ensure accuracy of published cash figures

• Data analysis enhancing transparency, decision drivers and efficiency

• Collaborate with internal/external stakeholders to ensure issues are being appropriately reviewed and progressing to completion

• Develop expertise around team control mechanisms and reporting

• Identify and coordinate escalation of priority issues

• Actively participate in all team meetings including review of key risk and process indicators

• Understand and adhere to all regulatory requirements impacting the reconciliation process

• Ability to evaluate systems, procedures and make recommendations for improvement

• Participate in various efficiency and capacity-building initiatives, including automation/ standardization efforts

• Understand upstream processes impactful to the reconciliation and develop ability to correlate the effect of change

• Maintain accurate process documents and train team members to ensure complete understanding

• Collaborate cross-functionally with stakeholders (i.e. Accounting) to ensure alignment between the IBOR and ABOR reconciliation

• Completion/sign off of key controls to ensure adequate oversight of risk management.

Qualifications:

• Bachelor’s degree - concentration in Accounting, Finance, Business or Economics is preferred

• Understanding of financial instruments with an emphasis on derivative products is preferred

• 1-3 years of relevant experience

• Strong, effective analytical and problem solving skills

• Data Analytics skillsets preferred inclusive of coding (VBA,SQL,PYTHON) and/or understanding of data science methods & implementation

• Organized approach to ensure follow up on outstanding issues and identify appropriate action to be taken

• Attention to detail to ensure a high degree of accuracy for all deliverables

• Excellent communication skills to effectively articulate solutions to internal and external stakeholders

• Ability to multi-task and balance requests without losing sight of overall objectives and deadlines

• Exceptional decision-making skills and ability to communicate effectively with senior management

• Foster strong internal & external relationships, with a focus on collaboration & client service

• Insatiably curious, desire to learn more and ask inquisitive questions to come up with creative sustainable solutions

• Ability to work in a fast paced, rapid changing, deadline driven environment

• Highly adaptable individual who can work in a dynamic environment to be able to think out of the box and “connect the dots”

• Proficiency in Microsoft office products (with an emphasis on Excel) or other programming languages and an aptitude for learning new applications

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

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.