Fund Accounting Policy, Vice President - New York

About this role

Are you an Investment Accounting professional searching for an exciting, significant, multi-faceted opportunity with the world's largest asset manager? If you pride yourself on building positive relationships, developing process solutions and bringing strategic visions to fruition, then look no further! BlackRock is looking for a Vice President to become a part of the team. We recognize that strength comes from diversity, and will accept rare skills, eagerness, and passion. All the while supporting the freedom to grow authoritatively and as an individual.

We know you want to feel valued every single day and be recognized for contributions! At BlackRock, we strive to equip our employees and actively engage their involvement in our success. Our technology and services empower investors to save for retirement, pay for college, buy a home and improve their financial well-being. Join the team and experience what it feels like to be part of an organization that makes a difference.

Our Investment Accounting Group provides accounting and regulatory data services to a multitude of clients. Our accounting services include the reconciliation, tracking, accounting for assets, along with preparation and oversight of monthly packages and regulatory schedules.

The Role:

The role is an integral part of the Investment Accounting Group who is responsible for overseeing all aspects of our accounting and reporting services and meeting the needs and evolving priorities of our clients. As our business is continuing to expand we have a requirement for strong technical statutory accounting skills and knowledge to continue to extend our depth. It essential for this role to remain current on any statutory accounting policy changes relating to financial instruments and ensure proper and consistent implementation across clients. The position requires leveraging the capabilities and working closely with of other parts of the BlackRock organization. There is an opportunity for continued professional development with a career path within the group, or into other operating teams or client-facing business areas across BlackRock. Our suite of services provided to our clients offers opportunities for further personal learning, both in terms of the product types and accounting complexities, as well as the ongoing development of technical strengths.

Key responsibilities:

• Obtain and maintain a thorough knowledge of BlackRock’s capabilities, products and services for insurance companies

• Establish and maintain accounting policies that comply with US GAAP, IFRS and US Statutory requirements while being operational and actionable

• Keep abreast of and effectively communicate the implications of the evolving regulatory landscape and new accounting pronouncements to ensure best practices and compliance by our clients, across multiple bases of accounting i.e. IFRS, US Statutory, US GAAP, etc.

• Support the development and maintain a library of technical accounting policies

• Develop and manage US Statutory reporting for clients and prospects, informing and leading the implementation of client mandates with effective planning and use of resources

• Assist in the impact assessment and implementation of newly issued US GAAP, IFRS or US Statutory accounting standards

• Support business growth, implementation of new clients, and client retention within the insurance sector working in partnership with other BlackRock teams

• Act as a subject matter expert for all financial instruments as it relates to setup, process in compliance with current and proposed US Statutory accounting guidelines

• Represent Investment Accounting Policy on internal cross-functional projects and working groups in support of delivering key business and client objectives

• Represent Investment Accounting Policy on external industry groups and conferences

• Contribute to the continual development of the investment reporting production and control processes to optimize efficiency, mitigate risk and incorporate business and product changes, ensuring procedures are maintained in line with all current practices

• Prepare and deliver the US Statutory sections of the Investment Accounting Policy teams work products such as the quarterly newsletter, New Accounting Reporting Committee (NARC), period accounting summits, etc.

• Work with vendors and BlackRock partners to ensure that our development priorities are clearly stated and champion the completion of each

• Provide expert-level support and advice to clients on technical statutory accounting matters

• Develop and provide technical accounting training on complex and/or new accounting topics

• Assist and/or manage special projects as required

Experience Required:

• 15 plus years of proven experience in investments/markets, Certified Public Accountant or equivalent

• Strong understanding of current accounting standards and regulatory requirements applicable to the insurance sector

• Solid financial background and understanding of how financial instruments are used to achieve overall economic objectives

• Excellent knowledge of the business models of insurance companies including the regulatory and accounting constraints under which they operate and the local application of insurance regulation under various accounting basis

• Expert-level financial instrument knowledge including:

• Derivatives, options (including swaptions, collars, etc), swaps (including FX, credit default, variance, total return, interest rate, inflation, etc.), FX forwards, futures

• Familiarity with various trading strategies including, hedge accounting (general and qualified), Income Generation, RSAT, etc.

• Securities and loan accounting including impairments and modifications.

• Alternatives instrument accounting (e.g. LPs, LLCs, Hedge Funds, JVs, Mineral Rights)

• Understanding of clearing mechanics (daily cash/valuation movements and accounting treatment by basis)

• Familiarity with financial instrument reporting and disclosures

• Experience working with automated accounting and front/middle office applications.

 

For New York, NY Only the salary range for this position is USD$137,500.00 - USD$194,000.00 . Additionally, employees are eligible for an annual discretionary bonus, and benefits including heath care, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

 

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock’s 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 well-being.  Our clients, and the people they serve, are saving for retirement, paying for their children’s 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. It’s why we’re 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.com/company/blackrock

BlackRock is proud to be an equal opportunity workplace. We are committed to equal employment opportunity to all applicants and existing employees, and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement.

 

BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email Disability.Assistance@blackrock.com. All requests are treated in line with our privacy policy.

BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.