Associate, Fund Operations

Shanghai, China
03 Mar 2021
06 Mar 2021
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
About this role
About BlackRock's WMC
In August 2020, BlackRock, Temasek and China Construction Bank (CCB) received approval from the China Banking & Insurance Regulatory Commission (CBIRC) to set up a Wealth Management Company (WMC) in Shanghai. BlackRock will hold a 50.1% stake in the joint venture. The WMC will be able to manufacture onshore products for domestic investors.

About this role:
BlackRock is seeking a Fund Operation Associate within its newly created China Wealth Management Company.
The China Fund Operation team is accountable for NAV oversight, establishing accounting policy, coordinating financial reporting, providing vendor oversight, and leading product operational infrastructure for BlackRock's funds domiciled in China via the wealth management distribution platform.
We are looking for an experienced professional to join the growing China onshore team to further support the business expansion and footprints in the asset management industry.
The team establishes the Fund Control Environment and ensures adherence to local and global procedures. It also maintains positive and effective relationships with Fund Administration teams in other locations in Asia and EMEA, to ensure consistency of processes and efficient use of resources. This includes various control and administrative duties (such as daily NAV review, tolerances checks, invoicing, etc.) to achieve complete and robust oversight of specific fund processes. You will also be able to provide leading insights in new regulations and drive outstanding client experience through timely and accurate delivery of NAVs. The team will also work closely with Investments teams and Trading to support the full trade lifecycle from account set up, funding, settlement, margin, collateral and reconciliation.

  • Show excellent attention to detail and be risk adverse with critical thinking skills.
  • Demonstrate partnership skills within BlackRock to actively engage and lead fund product changes, with focus on maintaining a good working relationship with Global Product Group and our Investment teams.
  • Supervise outsourced functions, including performance of the service provider, due diligence visits, leading all aspects of risk and control environments, investigation of NAV related queries.
  • Support full trade lifecycle from account set up, funding, settlement, margin, collateral and reconciliation; collaborate closely with counterparties and custodians to facilitate timely trade settlement and minimize potential fails.
  • Handle cash and trade workflow error resolution including funding shortages or failed trades across products (FX, equities, bonds, derivatives, etc)
  • Ensure all corporate actions, including income events, are captured, validated, elected and processed timely across entitled funds
  • Responsible for transfer agency and related operating matters, ensuring adequate resources and regularly reporting progress to management/key partners.
  • Work with the Financial Statement team in leading local audits and review of financial statements.
  • Ensure team approach is consistent with global practice for controls, oversight and management of vendors and production of fund valuations.
  • Relevant recognized qualification (ACCA, ACA, CIMA, CPA, CFA)
  • Experience with ETFs would be an advantage, including the creation and redemption process.
  • Expertise in fund valuation as well as associated reporting and requirements
  • Illustrated strong ability and track record in resolving and implementing change to processes and products.
  • Proven track record to develop practical and pragmatic solutions through a 'hands on' approach
  • Benefit from working with a broad range of functions within and outside of the business to deliver key initiatives
  • Can work within a small team and across several larger teams and be a strong communicator - ability to work well with all levels, including directors, industry groups, business heads and the firm's senior management.
  • 5 - 8 years proven experience within the asset management industry or a related industry, ideally with exposure to Fund Operation
  • Prepared to take the initiative, understanding that a highly organized team can drive better performance, and can take the lead in managing operational improvements and change.
  • High level of attention to detail and ability to resolve conflicting priorities;
  • Demonstrates a proactive and risk-focused approach to work, understanding the importance of identifying and raising issues appropriately;
  • Ability to work in a multifaceted, fast-paced environment with high self-assurance, energy and drive;
  • A proven ability to develop strong collaborative working relationships with key partners;
  • Possess strong interpersonal skills, both written and verbal;
  • Ability to think strategically and consider implications of actions from all angles.
  • Knowledge of anti-money laundering policies and requirements.
  • High proficiency in Microsoft Excel and prior hands on experience with automation tools (e.g. VBA, RPA, Python, etc.) would be an advantage.
  • Experience with financial technology platform would be valuable.
  • Proficient in Mandarin and English.
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.

About BlackRock

BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
For additional information on BlackRock, please visit | Twitter: @blackrock | LinkedIn:

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.
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