Vice President, Investment Operations-Billing

About this role

Team Overview

BlackRock SMA Solutions helps clients customize portfolios for unique tax, values-alignment, or investment exposures across direct indexing, fixed income, active equity, and multi-asset. We deliver world-class service to all of our clients, from wirehouses and wealth advisors to family offices to endowments and foundations.

About the Role

Looking to join the world’s leading Asset Manager? BlackRock’s Separately Managed Account Investment Operations team is hiring. The incoming VP will oversee the day-to-day functions of the team along with working closely with internal & external stakeholders including Operations, Sales, Portfolio Managers, Registered Investment Advisors (RIAs) and Financial Advisors (FAs) to maintain the ongoing billing ecosystem. Along with BAU oversight, the VP will be required to develop & execute on strategic initiatives to better align current processes with future improvements across various areas related to billing. The ideal candidate has demonstrated the ability to oversee a team from a strategic standpoint as well as dynamically jump into more granular responsibilities when needed.

The Retail SMA business is offered within 25+ sponsor platforms and is comprised of roughly 426,000 accounts and $163 billion AUM. The Billing team leads the invoicing of management fees and directs critical change events such as invoicing, fee updates, supplemental billing, refunding, etc. within the retail channel.

As a team, we deliver predictable and risk-controlled launch & change events by using our knowledge of BlackRock’s billing environment and following a structured implementation approach. As a function that sits within BlackRock SMA Solutions team, we pride ourselves on strong client interpersonal skills with a keen focus on the end client experience. We are business partners who play an active and transparent role in delivering an outstanding client experience on behalf of the firm.

Role Responsibility:

• Become immersed from Day 1 in all things retail billing to develop a strong sense of where the current function resides, and which direction it can benefit from heading
• Oversee a team of Analysts & Associates with all BAU functions and be a voice for the team
• Identify synergies between our retail counterparts with regards to system enhancements, procedural alignments & shared responsibilities 
• Ensure successful completion of daily, monthly, quarterly and annual processes within the team’s service-level agreement by following procedures and policies
• Ensure large invoice generations (10,000+) per quarter are accurate with regards to debiting client accounts
• Oversee data entry tasks such as setups, terminations, maintenance items, etc. of SMA accounts
• Monitor, review and escalate the accounts receivable volumes while working with internal partners to ensure accuracy of cash applications in Oracle
• Work with the SMA business to ensure all one-off exceptions are completed accurately
• Successfully manage time between day-to-day responsibilities and project involvement
• Identify & drive operational improvement opportunities that lower the risk of errors and increase efficiency for the SMA Billing team
• Collaborate closely with senior management in weekly/monthly meetings
• Ensure continuous process optimization and improvements are in place for a best controlled, risk handled and most cost-efficient operations service team
• Build strong relationships across the organization by listening closely to our internal partners (Sales, Portfolio Managers etc.) and working to deliver for the firm and our clients
• Work closely with clients, consultants, custodians, FAs and transition managers as well as key internal partners to ensure the effective coordination of billing retail clients

·        Maintain awareness of industry changes and such impact on SMA Solutions, Blackrock and our clients

·        Work with Product Marketing, Client Services, and other stakeholders on promotional plans to ensure that strategies are integrated

Experience:

• 5+ years industry experience in either investment management, accounts receivable/payable, banking operations, asset management or a related discipline
• Direct line management experience with demonstrated ability to execute on a strategic roadmap
• Strong client management and white-glove service skills
• Experience directly or indirectly supporting Retail & Institutional clients

·        Knowledge of BlackRock’s internal processes, products, and fund structures a plus

• Extremely high attention to detail, with precision accuracy, proactive communication skills (verbal & written), superior organizational skills and a knack for audit & control procedures
• Ability to operate/prioritize effectively and adhere to tight deadlines & SLAs
• Strong control / risk mitigation mentality with the judgment to raise issues when necessary.
• Experience or familiarity with change management
• Knowledge of the following systems: Aladdin, APL, Revport, Oracle, Microsoft Office products (Word, Outlook, Excel)

Other:

• Travel: No
• Direct Reports: Yes
• Licenses: No

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 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 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.