BlackRock Transition Coordinator - Associate in Budapest, Hungary
BlackRock is one of the world’s preeminent asset management firms and a premier provider of global investment management, risk management and advisory services too institutional, intermediary, and individual investors around the world. BlackRock offers a range of solutions — from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.
At BlackRock we are building something great in Budapest, our new global technology and Innovation hub, where we want to shape a culture in which challenge, development and innovation happen every day. Our mission as an organsiaiton is create a better financial future for our clients and BlackRock Budapest will enable this, through a relentless drive to make ourselves and our communities better. We are a diverse bunch of people who like to analyse, reinvent, and enhance how we work, and all in the pursuit of a better experience for our colleagues and clients. We offer The excitement to be a founder in a start-up with the security of a global, leading organization, where you will find innovation and inclusion are our competitive advantages. There are limitless problems to solve and opportunities for learning and development, alongside a team of clever and caring colleagues. Our culture is one of respect, challenge and stretch and we expect and value feedback. We believe that people reach their best potential when the different facets of their home, work and community are all cared about. We will have a fun, fast paced work environment located in cutting edge facilities, with competitive and innovative benefits, and the ability to define your role, pursue your aspirations and shape your future within Hungary and beyond.
The Transition Services function provides all operational support to BlackRock’s Transition (TRIM) and Portfolio Management teams. The focus is to ensure safe movement of clients’ assets (securities ‘free-of-payment’) & cash balances between portfolios to match the Aladdin portfolio structure.
When BlackRock is appointed as the Transition or Portfolio Manager by the client the Aladdin portfolio structure is specifically designed to enable BlackRock to manage the mandate according to the appropriate benchmark. Clients assets are positioned in distinct portfolios within Aladdin, which are then linked at the custodian bank to match the Aladdin structure.
The teams’ largest internal client is BlackRock’s Transition Management Team (TRIM). TRIM led transition activity is run as a distinct project that changes the investment philosophy of the mandate through reorganisation and trading. This can result in the need to move complex groups of securities from one set of portfolios to another, with associated Custody transfers. Transition activities require the liaison between legacy and target appointed investment firms, the security types can also vary (equities/ bonds) and cover global investment regions. The team also support strategic BlackRock projects where assets are to be moved between BlackRock fund / fund groups.
Each client’s transition project creates a unique set of challenges that requires close interaction and partnership with the TRIM team and multiple internal business partners such as Portfolio OnBoarding, Portfolio Compliance and Asset & Cash Reconciliation teams. The potential costs and risks are mitigated through the activities performed by the Transition Services team.
The team is currently located in London, Edinburgh, San Francisco and now expanding into Budapest to provide a truly global support infrastructure.
We are looking for people who are:
Curious: You like to learn new things and have a healthy disrespect for status quo
Brave: You are happiest outside your comfort zone
Passionate: You feel personal ownership for the work you do and an aspiration to be better
Open: You value and respect input from other
Experimental: You make mistakes, but learn from them
Geeky: You want to outsmart the problem.
You should have:
A desire to develop and work in a dynamic, fast paced and high performing global team
2-5 years of experience in a similar role
Excellent communication skills, both written and oral, and a strong track record as a team player and collaborator
An ability to learn quickly in a time pressured environment where avoiding risk is crucial
The ability to multi-task, work to challenging internal/external deadlines and prioritise in a fast paced environment, while staying focused on risk mitigation
The ability to manage stakeholders effectively to ensure timely delivery of the transition
High energy, curiosity, and attention to details are essential
Strong MS Excel skills in order to safely and accurately manipulate/manage data
An understanding of the transition management business and the free-of-payment market preferred, but not essential
Job Function: Operations
Organization: Tech & Ops-Business Operations
Title: Transition Coordinator - Associate
Primary Location: EMEA-Hungary-Budapest
Requisition ID: 172594
Job Posting: Sep 1, 2017, 8:42:02 AM
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