Title: APAC Fund Administration Vice President
Location: Hong Kong
BlackRock is one of the world’s preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to 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.
BlackRock is one of the world’s pre-eminent asset management firms and a premier provider of global investment management, risk management and advisory services to 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.
BlackRock APAC Fund Administration Team has responsibility for all NAV accounting matters across APAC for pooled fund products, plus audit and financial statement production oversight . This involves responsibility for accurate and timely production of asset valuations produced by third party administrators, including shareholder taxation. The Team, amongst other things; has significant involvement in assisting various BlackRock departments in launch of new product and change management and closure of existing product. The Team additionally supports relevant Fund Boards, assists Legal and Compliance in relevant regulatory and legal matters specific to the funds and supports Portfolio Management Group, Sales and Marketing teams through technical knowledge of both the funds in relation to jurisdictional requirements and accounting expertise.
The Team is now looking to recruit in Hong Kong to support the growth in our business centered in Hong Kong and Singapore, working closely with the Sydney team who support these locations at present. BlackRock in Asia Pacific has over 300 collective funds with over USD50bn in six domiciles and significant relationships with a number of major third party administrators.
APAC Fund Administration Vice President
This diverse and challenging role has responsibility for ownership of the fund administration oversight of BlackRock’s Hong Kong and Singapore domiciled and serviced business, reporting to the Director of Fund Admin based in Sydney. Primary functions will be the management of service provider relationships and the management of fund accounting related product implementation and product change. The role may also involve occasional support of the Australia business. The role covers both change management and exception management.
The BlackRock fund ranges overseen in Hong Kong and Singapore include the flagship iShares range domiciled in APAC, as well as Hong domiciled MPF funds and Cayman vehicles. The business is dynamic and growing and opportunities for Hong Kong based asset managers in mainland China are expected to be key focus of future business and product development.
Luxembourg are diverse and encompass a wide range of active strategies, within multiple different legal structures. This includes Luxembourg UCITS and Non UCITs funds distributed in over 30 countries as well as hedge funds and fund-of-funds domiciled in various offshore jurisdictions.
The role demands an ambitious self-starter who can demonstrate high levels of initiative with a drive to succeed both as an individual and as a strong team player. The successful individual should demonstrate a commitment to technical excellence, flexibility and the ability to manage multiple activities and deadlines. An excellent communicator they will use their strong influencing skills to develop robust collaborative working relationships with key internal and external stakeholders.
The role would suit an experienced fund accounting manager who is either a qualified accountant (ACA or ACCA), or has equivalent technical and managerial knowledge and experience gained in a major investment accounting firm. Experience in an asset management company would be advantageous, but not essential.
A high level of fluency in Traditional Chinese, both written and spoken, is required.
Provide an authoritative source of business, industry and technical accounting expertise on functional and process requirements; manage change and the strategic agenda for key initiatives that impact across process and people.
Supervise a small team of individuals dealing with full oversight of the fund accounting process and fund specific projects
Build strong relationships with contributing business areas within BlackRock to improve the processes around fund launch and product change. Especially maintain a strong working relationship with the Product Development and New Product Services Groups.
Represent BlackRock in the Hong Kong marketplace and where applicable and possible, participate in relevant industry working groups
Ensure compliance with all relevant BlackRock policies and with regulatory requirements across all Products.
Key BlackRock contact point for outsourced fund administration vendor relationships.
Assisting the in the preparation of Financial Statements and in managing local audits, working closely with the team in Sydney.
Managing shareholder taxation relationships and tax aspects (such as withholding and CGT tax) relating to the funds in conjunction with Product Tax and ensuring a robust procedural and oversight environment.
In conjunction with the Director assist with recruitment, succession planning, career development and training.
Aid the iShares Capital Markets Group in supporting Primary Market Participant requirements.
Ensure Team approach is consistent with global best practice for control, oversight and management of vendors and production of fund asset valuations and where appropriate provides input and drive to enhance such processes.
Maintains strong relationships with Fund Administration teams in Australia, Japan , Korea and Taiwan, ensuring consistency of process and most optimal use of resource to provide various control and administrative duties (such as daily NAV review, tolerances checks, invoicing, etc.) to achieve complete and robust oversight of vendors and specific fund processes.
Contribute to required Board or Committee reports reflecting operational developments, issues and actions and represent operations at board meetings and any specific sub-committee operating groups.
Skills / Experience:
Preferably relevant recognised qualification (ACCA, ACA, CIMA, CFA), or equivalent years-served industry experience
8 years post-qualification experience in the Mutual fund industry with fund accounting focus and exposure to retail, institutional, hedge and cash product.
Experience with exchange traded funds a benefit, including the creation and redemption process.
Significant expertise in fund valuation and associated reporting and administrative requirements including specific knowledge of Hong Kong Offshore product including (but not exhaustive of) swing pricing, dilution, levels, performance fees, shareholder taxation, hedged share classes. Experience of mainland China products and administrative requirements would be an advantage.
Ability to develop high quality individuals.
Proven experience in managing operational processes.
Thorough understanding of the fund valuation and associated transaction lifecycle and key control frameworks.
Strong understanding of investment processes and controls across all product structures.
Strong prioritisation skills and ability to manage differing requirements from multiple ‘clients’.
Strong ability and track record in determining and implementing change management to process and product.
Develop practical and pragmatic solutions through a ‘hands on’ approach.
Ability to justify and defend proposed approaches.
Strong team player with excellent interpersonal skills.
Can work effectively within a small team and also across several larger teams.
Needs initiative, drive and enthusiasm.
Ability to motivate self and others through times of change.
Excellent attention to detail.
Excellent verbal and written communication capabilities – ability to interact with all levels, including directors, industry groups, business heads and the firm’s senior management.Job: OperationsOrganization: Tech %26 Ops-Bus Ops-Global Fund Svcs