BlackRock Fund Distribution Partners Oversight Associate in Princeton, New Jersey
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At December 31, 2016, BlackRock’s AUM was $5.1 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. As of December 31, 2016, the firm had approximately 13,000 employees in more than 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company’s website at www.blackrock.com at http://www.blackrock.com/ | Twitter: @blackrock_news | Blog: www.blackrockblog.com at http://www.blackrockblog.com/ | LinkedIn: www.linkedin.com/company/blackrock
Technology & Operations
This is an Associate role in the U.S. Transfer Agency and Dealer Servicing Group. The role is multi-functional and includes supporting the monitoring and reporting of shareholder activity for compliance with mutual fund policies as governed by the Funds' Boards. In addition, the role will have responsibility for oversight of certain vendors to ensure compliance with certain fund reporting requirements such as Blue-Sky registrations and Escheatment processing.
Certain BlackRock Retail Mutual Funds, Variable Series Funds (Funds) and Institutional Money Market Funds (IMM Funds) use Fund Distribution Partners (FDPs) to perform administrative, recordkeeping, distribution, sales support and/or marketing support services. The Associate will be responsible for performing Due Diligence Reviews (DDRs) with respect to certain FDPs in order to evaluate the FDPs’ compliance with the Funds’ prospectus disclosure requirements, applicable laws and regulations, as well as their contractual agreements with BlackRock and/or the Funds and the IMM Funds, respectively.
The DDR process, in general, consists of the following steps:
Determine if the FDP’s omnibus account AUM is above the AUM threshold established by the FDP Due Diligence US Intermediary Oversight Committee (US-IOC)
Perform FDP Risk Assessment and, based on results,
For FDPs that qualify, proceed with an on-site DDR
Present findings to the US-IOC, including proposed Risk Rating
US-IOC ratifies Risk Rating and determines any necessary follow-up
Strong presence and communication skills and the ability to represent the firm effectively in meetings with FDPs
Engage with various internal business partners and levels of management such as RMs, Legal and Compliance, etc., and enlist their help with their subject matter expertise in order to successfully perform the DDRs
Work independently, establish timelines and meet deliverables timely
Process driven, attention to details, audit background very helpful
Sensitive to customer relationship issues, diplomatic yet persistent
Highly motivated to provide world class service to clients and business partners.
Experience to recognize high risk items and immediately escalate or seek assistance to mitigate risk to the shareholder, the funds and/or BlackRock.
Continuously work to expand skills/knowledge with respect to compliance, regulations and overall industry knowledge.
Represent BlackRock by attending industry forums and participate in industry surveys to stay current on the latest regulatory trends and proceedings
Must be able to assess the DDR process with respect to the potentially changing and evolving industry and regulatory environment and recommend changes to the process if applicable.
Must have the acumen to recognize potential for improvement to the operational effectiveness of the DDR process and make suggestions to streamline functions, if applicable.
Minimum 5 -7 Years of Fund Operations, Brokerage Operations or Transfer Agent experience
Working knowledge of NSCC platforms
Familiar with Intermediary omnibus environment including proprietary and primary vendor platforms
Strong interpersonal and phone skills.
Strong attention to detail, communication, organizational, and management skills needed.
Microsoft Word, Excel, PowerPoint and Adobe skills required
BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, disability, veteran status, and other statuses protected by law.
Job Function: Operations
Organization: Tech & Ops-Business Operations
Title: Fund Distribution Partners Oversight Associate
Primary Location: Americas-United States-Princeton
Requisition ID: 172606
Job Posting: Sep 4, 2017, 11:00:00 PM
FutureAdvisor is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, disability, veteran status, and other statuses protected by law.