Reconciliations Analyst
Reconciliations Analyst
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Job Description
About this role
Introduction
Want to elevate your career by being a part of the worlds largest asset manager Are analyzing complex problems and identifying solutions your passion Look no further. BlackRock is currently seeking an Analyst to become part of our team. We recognize that strength comes from diversity and will embrace your rare skills eagerness and passion while giving you the opportunity to grow professionally and as an individual.
At BlackRock we strive to empower our employees and actively engage your involvement in our success. With over USD $11 trillion of assets we have an extraordinary responsibility: our technology and services help millions of investors to save for retirement college buy a home and improve their financial wellbeing. Join our team and experience what it feels like to be part of an organization that makes a difference!
Team Overview
Since 2000 and 2006 respectively BlackRock has been providing Investment Accounting and Middle Office services. With a client base of 17 we handle approximately $2.7 trillion in assets across 250000 positions. Our team processes over 300000 trades and reconciles more than 1 million transactions across 1700 portfolios annually. To ensure scalability risk reduction and exceptional client experiences we have introduced OPS (Outsourced Platform Services).
At the heart of our outsourced services are the functional teams that support our clients portfolios assets and transactions daily.
The OPS Cash Operations team is a core group within Tech & Ops of dedicated professionals who are essential to the investment process by ensuring that all middle office clients cash & position data are accurate for processes including investment management analytics compliance and regulatory. Cash types include but are not limited to equities fixed income OTC derivative positions (swaps swaptions FXs and synthetics) and collateral. The roles and responsibilities will include actively managing risk and exposure for our clients by ensuring the investment book of record is reconciled with external record holders daily.
The role requires an understanding of the mechanics of the reconciliation process exception management client service troubleshooting issues driving innovative enhancements data analysis maintaining documentation assisting management in leading processes and recommending improvements to ensure efficient and accurate processes.
Role Responsibilities:
- Ensure reconciliations are successfully completed and troubleshoot any discrepancies
- Review cash exceptions daily including researching differences and resolving them in an accurate and timely manner
- Ensure accuracy of published cash figures
- Data analysis enhancing transparency decision drivers and efficiency
- Collaborate with internal/external stakeholders to ensure issues are being appropriately reviewed and progressing to completion
- Develop expertise around team control mechanisms and reporting
- Identify and coordinate escalation of priority issues
- Actively participate in all team meetings including review of key risk and process indicators
- Understand and adhere to all regulatory requirements impacting the reconciliation process
- Ability to evaluate systems procedures and make recommendations for improvement
- Participate in various efficiency and capacitybuilding initiatives including automation/ standardization efforts
- Understand upstream processes impactful to the reconciliation and develop ability to correlate the effect of change
- Maintain accurate process documents and train team members to ensure complete understanding
- Collaborate crossfunctionally with stakeholders (i.e. Accounting) to ensure alignment between the IBOR and ABOR reconciliation
- Completion/sign off of key controls to ensure adequate oversight of risk management.
Qualifications:
- Bachelors degree concentration in Accounting Finance Business or Economics is preferred
- Understanding of financial instruments with an emphasis on derivative products is preferred
- Strong effective analytical and problem solving skills
- Data Analytics skillsets preferred inclusive of coding (VBASQLPYTHON) and/or understanding of data science methods & implementation
- Organized approach to ensure follow up on outstanding issues and identify appropriate action to be taken
- Attention to detail to ensure a high degree of accuracy for all deliverables
- Excellent communication skills to effectively articulate solutions to internal and external stakeholders
- Ability to multitask and balance requests without losing sight of overall objectives and deadlines
- Exceptional decisionmaking skills and ability to communicate effectively with senior management
- Foster strong internal & external relationships with a focus on collaboration & client service
- Comfortable representing and communicating directly with the client
Insatiably curious desire to learn more and ask inquisitive questions to come up with creative sustainable solutions
- Ability to work in a fast paced rapid changing deadline driven environment
- Highly adaptable individual who can work in a dynamic environment to be able to think out of the box and connect the dots
- Proficiency in Microsoft office products (with an emphasis on Excel) or other programming languages and an aptitude for learning new applications
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 wellbeing; 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
BlackRocks 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 wellbeing. Our clients and the people they serve are saving for retirement paying for their childrens 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. Its why were 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/company/blackrock
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.
Required Experience:
IC
Employment Type
Full-Time
