Associate, Fund Accounting Oversight

Edinburgh, United Kingdom
15 Nov 2022
02 Dec 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time

About this role

Associate Role within BlackRock Accounting Services and Oversight

BlackRock EMEA Accounting Services & Oversight Function has responsibility for NAV accounting oversight of pooled fund products. Responsibility for accurate and timely production of asset valuations produced by vendors, including shareholder taxation. The Team has involvement with various BlackRock departments in launch of new product and organisational change and closure of existing product.

The function has a core team in Edinburgh providing oversight within EMEA of the daily pricing activities. The firm currently has in excess of $750bn of assets coordinated across major administrators in EMEA region! The primary function of the team includes:
  • Oversight of fund administrators pricing and control activity ensuring all funds are priced within the required SLA and to the required accuracy standards.
  • Monitoring of reconciliations and controls produced by the third party fund administrators

We are looking for a pro-active individual who can demonstrate initiative with an aim to succeed both as an individual and as a strong teammate! The successful individual should demonstrate a dedication to technical capability, flexibility and the ability to balance multiple activities. As a good communicator they will use their influencing skills to develop strong collaborative relationships with key internal and external partners.
Responsibilities include:
  • Monitor reconciliations produced by third party administrators and work with them and other BlackRock departments ensuring there is timely resolution of breaks
  • Ownership for ensuring all tasks and activities undertaken meet the requirements of the regulatory regime and that any exceptions/breaches are reported to line management immediately
  • Proactively build and maintain working relationships with providers and other areas within BlackRock, working closely with them to make sure the service is delivered and that any queries/problems/issues are taken care of in accordance with agreed standards and in a timely, accurate and complete manner
  • Carry out continual development of pricing and monitoring processes to optimise efficiency, mitigate risk and incorporate business and product changes. Ensure that the procedures are maintained in line with all current practices
  • Prepare key performance indicator data and management information for regular reports to management
  • Be aware of product, business and regulatory changes and proactively seek involvement in the resultant initiatives and projects
  • Focus on the financial aspects of the relationship between BLK and third party providers, encompassing the full range of services delivered, become a main point of contact within BLK, including fee modeling, scenario analysis and RFPs
  • Collaborate closely with BLK Finance and business heads to prepare annual plan for provider spend, ensuring that all business change impacts / new business are understood, considered and aligned into plan
  • Produce monthly reports including appropriate analysis and commentary on the provider financials, investigating thoroughly all material variances to forecast, to plan, and month-on-month
  • Review and undertake activities over all invoices received from providers, ensuring that invoices reflect agreed tariff and activity, and look to enhance processes.
  • Ensure all relevant payments are made within timeline
  • Maintain procedures for all 3rd party provider fees
  • Supervise Service Credit process, including calculation and collection of payment
  • Maintenance and ongoing development of Fee Billing Database, initiating and supporting improvements.
  • Measure provider performance against SLA, collating service management data
  • Work with providers, aspiring to constantly improve service

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 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 current hybrid work model is designed to enable in-person connections and collaboration that is core to our culture, while supporting increased flexibility for all employees. In line with local health guidance and regulations, employees are required to work at least 3 days in the office each week, with the flexibility to work from home up to 2 days a week. Some business groups may require more time in the office due to their roles and responsibilities. The health, safety and well-being of our people will always be our top priorities; we will continue to monitor local conditions and health advisories in making decisions about our work environments.

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 | | Instagram: @blackrock | Twitter: @blackrock | LinkedIn:

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.
  • You need to sign in to save