Associate, SMA Alternatives Operations

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 wealth advisors to family offices to endowments and foundations.

About the Role

BlackRock’s SMA Solutions business is establishing a new team dedicated to the support of a model-based accounts that invest in alternative assets. This individual will be responsible for the daily operations functions that are related to supporting this new product, inclusive of new account setup, trade flow management, reconciliation and data quality. They will also work in close collaboration with internal & external stakeholders (e.g. Portfolio Managers, Distributors, Transfer Agents) to resolve issues and mitigate risk with a client service mentality. As this offering grows, they will also support the implementation of new distribution channels/clients, new technology deployments and participate in the development of new enhancements to achieve scale. They will also be expected to synthesize, analyze, and present daily/weekly/monthly metrics to senior management.

As a function that sits within BlackRock SMA Solutions team, the SMA Alternative Operations team strives to cultivate 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 outstanding client experience on behalf of the firm.

Responsibilities

•                    Ensure accurate client account setup on BlackRock’s platform/portfolio master

•                    Collaborate with internal and external business partners to resolve breaks and operational mismatches

•                    Execute on the daily cash & positions reconciliation of SMA Alts Client Accounts across multiple sponsor platforms

•                    Troubleshoot operational issues with internal and external partners

•                    Work closely with portfolio managers, distributors, custodians, and TAs as well as key internal partners to ensure the effective coordination of operations

•                    Represent SMA Alts Operations on calls & presentations while clearly articulating the functions that are supported

•                    Identify procedural improvements as product expands in the market and volumes increase

•                    Ensure continuous process optimization and improvements are in place for a best controlled, risk handled, and scalable operations service team

•                    Confidently escalate identified risks and work to clear exceptions, with a focus on scalability

•                    Willingness to acquire a deep functional understanding of U.S. Wealth Advisory tools & processes while understanding the lifecycle for alternative investments

•                    Possess a solutions-oriented mindset and challenge the status quo

Requirements

 •                    2-5 years of experience in investment operations

•                    Proven ability to build strong relationships with senior management, key clients, and internal/external stakeholders (e.g. Portfolio Managers, Distributors, Custodians, TA’s)

•                    Experience in a variety of securities operations & products will be a differentiator, especially SMA and Private Investments

•                    Exceptional attention to detail

•                    Ability to operate/prioritize effectively and adhere to tight deadlines

•                    Demonstrated ability to be flexible and adapt to changing circumstances

•                    Ability to operate effectively to tight deadlines and to prioritize own work

•                    Positive attitude and resilience, with strong problem-solving skills

•                    Experience within a team environment, specifically with sharing responsibilities

•                    Proactive communication style, with a service philosophy and risk mitigation mentality

•                    Basic proficiency in Microsoft Excel (VLOOKUP, pivot table, formula driven data scrubbing)

•                    Experience with Aladdin is a plus

For Princeton, NJ Only the salary range for this position is USD$95,000.00 - USD$127,500.00 . 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.