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Fund Accounting - Product Oversight & Governance

Edinburgh, United Kingdom
Closing date
Dec 8, 2022

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time

About this role

Business Overview

The role is situated within the Global Accounting and Product Services (GAAPS) group which is part of the wider Technology and Operations (Tech & Ops) community. Tech & Ops are responsible for development of the firms operating infrastructure which supports BlackRock's investment business worldwide.

Team Overview

The Product Oversight and Governance team is responsible for risk, change & exception management for the UK Mutual Fund range. The team are subject matter experts who support the BlackRock business groups who build our products, and the boards which are responsible for our funds.

The team has responsibility for all fund accounting matters across BlackRock's UK fund ranges, along with oversight of third-party administrator valuation and pricing activity. The team also work with internal partners with regards to launching new products, or changing existing ones, along with being responsible for specific items such as portfolio currency hedging or performance fees.

The UK fund ranges comprise over 300 funds and represents in excess of USD 370 billion in AUM. These ranges consist of a wide variety of products including the core Authorised Unit Trust (AUT) & leading passive fund range, Authorised Contractual Scheme (ACS) ranges, unit-linked life funds under BlackRock Life Limited (BLL) and our range of Closed ended Investment Trust Companies (ITCs).

Role Responsibilities
  • Deliver key fund activity including fund launches & repositions whilst engaging with key partners
  • Supervising outsourced functions, including performance of the service provider, due diligence visits, evaluate control environments, investigation of NAV related queries from internal and external sources
  • Help deliver firm-wide initiatives including changes at both conceptual and operational implementation stages
  • Provide fund accounting technical input across all operational aspects of the fund lifecycle
  • Contribute to Fund Board & BlackRock Committee reporting
  • Review and challenge policies and procedures to help evolve the Fund Accounting Ops model to best practice
  • Assess the operating model for risk and efficiency, with a focus on automation and STP
  • Contribute to ensuring compliance with all relevant BlackRock policies and regulatory requirements
  • Supporting the Financial Statement team in local audits and review of financial statements

  • At least 5 years proven experience including detailed understanding of the fund valuation process, operating model and key control frameworks
  • Fund / Product events such as fund and class launches, mergers, liquidations and in specie transition re-structural programmes
  • Investor anti-dilution mechanisms including dual pricing and single swing pricing
  • Strong understanding of fund expenses, ongoing charges & performance fees
  • UK GAAP, requirements of SORP for Authorised Funds
  • Good prioritization skills and ability to handle differing requirements from multiple clients
  • Good verbal and written communication capabilities - ability to interact and clearly communicate / articulate with all levels, including portfolio managers, fund directors, external auditors, senior management and vendors.
  • Good track record delivering change
  • Initiative, drive and enthusiasm; passion for performance
  • Excellent attention to detail

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.

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