Director, Securities Lending Operations - Delaware

About this role

Team Overview:

BlackRock’s Global Investment Operations (GIO) group manages the post-trade and asset servicing functions that support BlackRock's investment businesses worldwide. GIO spans trade documentation, transaction management, collateral management, payments, corporate actions, reconciliations and securities lending functions. GIO partners with BlackRock's Portfolio Managers and Traders globally to provide operational excellence to our partners and clients.

GIO’s Securities Lending Operations (SLO) team comprises approx. 50 dedicated team members across 6 offices, supporting both the phases before and after trade such as transaction management, collateral services, collateral schedule management, inventory optimization and sufficiency, accounting and billing, reconciliations, completing new client, counterparty and market opportunities, and coordinating third party providers of services related to both trade initiation and settlement. The team operates in a fast-paced environment and collaborates closely with regional teams across the globe, as well as external service providers. It maintains positive relationships with trading and technology groups to deliver innovative solutions and optimize scale, while prioritizing risk mitigation. This dynamic and connected team plays a critical role in driving operational alpha and supporting strategic initiatives.

The Director of the US SLO team is responsible for managing a regional staff of 12 individuals, and reports into the Global Head of Securities Lending Operations. The role requires a positive relationship and close collaboration with various parties inside and outside the organization. These include the Securities Lending and Cash businesses, GIO leadership teams, and technology teams.

Job Responsibilities:

• Manage a regional team of employees supporting lending activities related to securities, managing performance, setting goals, solving problems and encouraging a positive work environment.

• Lead every part of collateral management, covering mark to market processing and cash collateral reinvestment. Maintain accurate collateral levels, ensure transaction settlement is final, and deliver investable cash figures to Portfolio Managers.

• Oversee inventory enablement, sufficiency management, trade settlements, cash and asset reconciliation exceptions for both the loan and investment book of records, ensuring BlackRock loan data is in line with custodians and counterparties, and that exceptions are prioritized accordingly.

• Understand the full scope of the life cycle of a Securities Lending trade, and the integration with BlackRock’s Investment Management and Cash Management business.

• Manage risk for the firm and maintain positive key risk indicators (KRIs) for the function, ensuring regulatory and legal standards are maintained.

• Manage borrower relationships to promote a high service standard.

• Perform detailed data interrogation and trend analysis

• Interpret, simplify and present data to partners with various backgrounds

• Translate data to identify potential opportunities to increase scale and/or reduce operational risk.

• Partner with management teams to prioritize and implement data strategy.

• Prioritize technology roadmap items to define strategic direction related to the position.

• Partner with the securities lending division to ensure commercial and financial opportunities are scalable and operationally feasible.

• Build and maintain constructive working relationships with internal and external partners to inspire change and drive business growth.

• Provide thought leadership and liaise with technology teams to strategically improve processes and organizational frameworks, implement process change, and build solutions.

• Participate in industry forums such as ISLA to drive industry initiatives.

• Conduct meetings with external providers to discuss performance measurements and drive performance improvement.

• Participate in local, regional and global initiatives.

• Support colleagues in a distributed team environment.

• Review and document business process.

Experience:

• 12+ years working in investment operations with a good understanding of processes connected to lending securities

• Minimum of 5 years of supervisory experience; proven experience in leading teams of professionals, staff development, coaching and performance assessments

• Strong organization skills with capacity to multi-task without losing sight of overall objectives and deadlines

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

• Proven track record of leading and motivating teams

• Contribute to creating a team vision, planning and delivering steps to ensure a consistently high performing team

• Analytic problem solver comfortable working with large data sets

• Excellent communicator, able to simplify and convey complex themes to different audiences

• Demonstrate strong collaborator management skills

• Organized approach with diligent follow-up on open issues and identify appropriate action to be taken

• Proven track record in enhancing and transforming workflows and operating models

• Has the ability to influence and collaborate with internal partners to push through agendas

• Able to identify, manage, and remediate all aspects of daily operational risk embedded within workflows

• Capable with SQL, and Microsoft Office applications, especially Excel, PowerPoint and BI

• Experience using BlackRock’s Aladdin platform is desirable

• Experience with reinvesting cash collateral is desirable

• Demonstrates a technology-first approach

For Wilmington, DE Only the salary range for this position is USD$173,500.00 - USD$225,000.00 . Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

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 workplace. We are committed to equal employment opportunity to all applicants and existing employees, and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement.

BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email Disability.Assistance@blackrock.com. All requests are treated in line with our privacy policy.

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.