BlackRock India | Analyst/Associate – Private High-Grade Credit, Middle Office Operations

Responsibilities

• HPS was established in 2007 as a unit of Highbridge Capital Management, LLC (“HCM”), a subsidiary of JPMorgan Asset Management (“JPMAM”).
• As part of the HPS/Black Rock Transaction, Scott Kapnick, Scot French, and Michael Patterson have joined Black Rock’s Global Executive Committee, and Scott Kapnick has been appointed as an observer to the Black Rock Board.
• The Middle Office team (MO) within Private Financing Solutions (PFS) – Blackrock’s private credit platform – is responsible for ensuring the Fund’s positions and cash balances are accurate.
• They are responsible for trade capture, trade settlement, loan administration, daily cash and position reconciliations, corporate action elections/recordings, audit requests, new mandate onboarding, and PnL break analysis and resolution with fund administrators.
• The team interacts closely with the Deal Execution, Treasury, Fund Accounting, Fund Finance, Cash Management, Portfolio Analytics, Data Analytics, Valuations and the Deal Teams daily.
• Following the Transaction, JPMAM retained a passive minority investment in HPS, which was subsequently redeemed in April 2022.
• Researching and resolving cash breaks vs. custodians
• Researching and resolving position breaks vs. custodians/clients/administrators/other systems
• Investigate any transactional or accrual discrepancies that may arise
• Provide full trade life cycle operational support for products including but not limited to Bonds (Fixed & Floating Rate), Private Placements, ABS, Cross-Currency Swaps, Term Loans, Delayed Draw Term Loans, and Revolvers
• Work closely with custodians daily – fielding questions on how to apply cash, and building/providing amortization schedules for factored securities
• Assist with confirming positions and providing support where needed for both internal and SMA auditors
• Assist with monthly tie outs of all positions & cash with SMA Client for AUM, Dry Powder, and Management Fee purposes
• Perform daily transaction reconciliation with Stat Accounting administrator, and monthly position/cost/market value reconciliation during the monthly lockdown process
• Ensure proper recording/accounting and cashflow reconciliation of cross-currency swaps
• Perform Detailed Investment Return reconciliation versus full fund administrator
• Collaborate with technology teams on automation and workflow enhancements; Execute User Acceptance Testing (UAT), including scenario testing and error resolution before production release
• Liaise with multiple internal groups such as accounting, product control, valuations, investment data, etc. to resolve open queries and perform additional responsibilities as required to support team objectives

Candidate profile

• Strong understanding of fixed income securities (private & public), cross-currency and/or interest rate swaps.
• Strong Excel and Outlook Management Skills.
• Use of lookups, pivot tables, and extensive formulas – with the ability to build from scratch at any time.
• Ability to sort through high number of emails per day without missing anything important, responding in a timely manner, and escalating when necessary.
• Ability to resolve complex issues efficiently and independently by leveraging knowledge obtained via training as well as past experiences.
• Curiosity; need to not just be willing but wanting to learn and build upon existing knowledge every single day.
• Experience using trade/accounting/security master systems; FIS VPM, Aladdin, IVP Products, and/or Clearwater preferred.
• Experience with Statutory Accounting is a plus.
• Graduate with a Bachelor’s degree in Finance, Accounting, or business related field
• 2-6 years of experience in middle office/operations; accounting experience is a plus

BlackRock

BlackRock is a global investment management firm founded in 1988. It is known for its iShares exchange-traded funds and its Aladdin investment and risk-management platform.

BlackRock's Indian offices support investment, operations, finance and technology teams worldwide. Typical finance roles are fund accounting, cash management, reconciliations, financial reporting and controls.

• Industry: Investment management
• Headquarters: New York, USA
• In India: Offices in Gurugram and Mumbai