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Alternatives Business Management VP
Ref No.: 17-22746
Location: Wilmington, Delaware, Delaware
Team Overview

The Business Management Group (BusMgmt) within Alternatives Operations is focused on working with all of the relevant stakeholder groups across the firm to long-term strategic and tactical solutions to the complex issues presented by managing and operating alternative products. BusMgmt engagements are high profile initiatives which require team members to have senior level exposure and play an active role in shaping the future state operating model of Alternatives Operations; a typical BusMgmt project is at least as much about processes and implementing change as it is about the technology employed to do so.
We are looking for a candidate to work as part of a global team that will be able to make an immediate contribution to various projects with a specific focus on Management and Performance fees and complex waterfalls. This includes effectively understanding the business and specific issues that need to be addressed, developing a strategy, managing a team, tracking key milestones, leveraging firm resources and skills to execute on plans, and efficiently deploying the solution across the Alternatives Operations team.
The alternatives platform is a growth focus for BlackRock and this is an exciting opportunity to join a growing team in a fast-paced work environment.
Role Responsibility

The responsibilities of a Vice President in the Business Management Group include:
  • Partnering with senior management and the technology group to develop a strategic solution to automate complex waterfalls
  • Building out complex waterfall models including preferred returns, recycling capital, clawbacks, realized and unrealized waterfalls
  • Leading the continuous assessment of ensuring the Alternatives Operations team operates within the best in class control environment.
  • Leading the continuous assessment of the oversight model to ensure waterfalls follow legal documents.
  • Review complex legal documents.
  • Understanding the various Alternatives strategies within BlackRock Alternative Investments (BAI) and the challenges faced by each team
  • Learning and understanding the needs of the business
  • Build and maintain a strong knowledge of Aladdin infrastructure and the future roadmap
  • Understanding of the alternatives industry and how changes to that industry will impact BAI
  • Interpret complex fee agreements and other documentation to ensure timely and accurate fee calculations
  • Ensure new funds are onboarded within the best in class control framework.
  • Participate in new business discussions with prospective and existing clients around fee structures
  • Ensure strict adherence with product policies and guidelines to ensure all legal, compliance, and audit standards are met
  • Drive the technology requirements for new and existing fee enhancements, including appropriate test planning and rollout of process
  • Create, maintain, and/or review fee models, in keeping with the applicable fund terms
  • Effectively communicate complex concepts and procedures to all levels throughout the firm
  • Occasional travel between the East Coast offices including Princeton, and New York

Experience
  • 7-10 years of work experience in financial services, 5+ years of experience in alternatives is required
  • Deep waterfall expertise with closed end funds.
  • Understanding of Private equity funds and fund of funds.
  • Outstanding academic achievement, broad based work experience, and demonstrated leadership experience
  • Management reporting and investment partnership accounting experience are required
  • The ability to read, understand, and follow complex partnership agreements and offering materials
  • Complex modeling ability with experience in financial systems design
  • Strong project management and time management skills
  • Excellent communication, presentation skills, and comfort in senior management communication
  • Creativity with an analytical mind and openness to using technology to solve problems
  • Entrepreneurial spirit that is willing to take on additional responsibility quickly
  • High degree of comfort with technology is required. SQL proficiency is required, Investran is a plus
  • VBA experience is a plus and web development (JavaScript/AngularJS, HTML, CSS) or full-scale enterprise application development (Java, C/C++, Python, Perl) is also a plus
  • The ability to prioritize, multi-task, and work independently is 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.
Employee Status:
Employee
Job Type:
Standard
More Information About the Job
Is Relocation Available?
No
Is there a bonus structure?
20% or higher
Are you open to sponsorship?
Yes
This position is:
New Position
Is there a possibility to work remote?
No
Is there equity?
No
Are there flexible work hours?
No
Does this position have direct reports?
No
Additional Information
1. Travel arrangements for candidates' traveling with a BlackRock employee, as directed by BlackRock, must be booked through Blackrock.
2. BlackRock verifies the credentials and employment history of candidates offered employment. Therefore, the Search Firm agrees to notify all candidates that information presented on any application forms, resumes or during the interview process will be verified.
3. The Search Firm will advise each candidate that BlackRock expects him or her to honor his or her contractual obligations to any previous employer. The Search Firm will also advise the candidate to seek independent legal advice where the candidate has any question concerning the nature of the candidate's obligations or enforceability of any contract terms, such as provisions prohibiting solicitation of other employees of any previous employer, confidentiality and non-compete clauses. In the event that the Search Firm learns that a candidate is subject to restrictive covenants of the type referenced above that it reasonably believes may impact the candidate's ability to perform in an unrestricted manner in the position for which the search is engaged, the Search Firm will advise BlackRock of such restrictions.
4. Hiring Company verifies the credentials and employment history of Candidates offered employment. Therefore, the Search Firm agrees to notify all candidates that information presented on any application forms, resumes or during the interview process will be verified. Any false or misleading information, omissions or misrepresentations may be grounds for immediate discharge if the employment has commenced employment or revocation of the offer. Federal law also requires that employers hire only individuals who are authorized to be lawfully employed in the United States. In compliance with such laws Hiring Company will verify the employment authorization status of every individual offered employment with Hiring Company. Accordingly, all offers of employment are subject to the verification of the applicant's identity and employment authorization and it will be necessary for the candidates to submit such documentation as required by law to verify identification and employment authorization. All offers of employment are also conditional upon satisfactory completion of a background check conducted by an outside vendor which may include a criminal record search, drug testing and/or fingerprinting, as may be permissible under applicable law. The Search Firm agrees to inform all candidates of these requirements.
5. Limits on Candidates. In light of the importance of BlackRock's relationships with certain clients, BlackRock has determined that, employees of the following companies shall not be approached if they are at the Director or Managing Director level in their current position or if the search pertains to a Director or Managing Director level position at BlackRock: Ameriprise, Fidelity, Japan Post Bank, Lincoln Financial, Client, Pacific Life, Client, Prudential, Strategic Investment Group, Swiss Re, UniCredit and Zurich Insurance.