Join leading Investment management company BlackRock as Associate, Securities Lending Operations in Wilmington, US. refer job details to submit BlackRock job application in Wilmington.
Job Title : Associate, Securities Lending Operations
Location : Wilmington, US
Job Category: Investment Operations – Investments
About this role
Technology & Operations
Investment Operations: Is responsible for the development of the firm’s operating infrastructure to support BlackRock’s investment businesses worldwide. IO establishes and coordinates operational processes and procedures internally and externally with clients, custodians, prime brokers, broker-dealers and other vendors and leads BlackRock’s broker-dealer and custodian bank relationships.
The Investment Operations and Securities Lending Reconciliation and Receivables Team is a dedicated group of professionals who are responsible for three primary functions: Accounting and Billing, Post Trade Recon and Manufactured Dividend Reclaims. The team focuses on maintaining the Lending Book of Records and ensuring the timely settlement of lending fees and MDRs. The team is positioned to simplify and connect the workflows both internally and for our Custodians and Counterparties and in the process, connect break resolution to open bills and dividends.
The roles and responsibilities will include actively managing risk and exposure for BlackRock by ensuring closure of position discrepancies which directly impact the timely and accurate settlement of MDRs and SL bills. The role will result in understanding the mechanics of the lending transaction lifecycle, exception management, troubleshooting issues, driving innovative enhancements, data analysis, maintaining documentation, assisting management in leading processes, and recommending improvements to ensure efficient and accurate processes. The SL Reconciliation and Receivables team plays a prominent role in the lifecycle of a trade, using BlackRock’s proprietary platform Aladdin to ensure operational consistency and client fiduciary responsibilities.
Reporting Securities Lending income to lending funds and Blackrock’s Lending Agents
Reconciliation of Securities Lending accounts’ receivables and payables and cash accounts
Transaction monthly payments of Securities Lending income to lending funs/Clients and Lending Agents
Updating income data within BLK systems to account for billing settlement differences and special charges
Manage and ensure delivery of central initiatives
Effectively lead conversations around exception volume, exposure, and age
Develop expertise around team control mechanisms and reporting
Actively participate in all team meetings including review of key risk and process indicators
Understand and adhere to all regulatory requirements impacting the reconciliation process
Ability to evaluate systems, procedures and workflows to make meaningful recommendations for improvement
Lead various efficiency and capacity-building initiatives, including automation/ standardization efforts
Build and maintain strong relationships with key internal & external stakeholders including; leading & coordinating problem resolution
Embracing the BlackRock Principles and role modeling these behaviors to other team members
Investigation and resolution of exceptions across the various post-trade reconciliations across the investment book of record, the loan book of records, and BLK vs. the various counterparties
Demonstrate full understanding of the trade life cycle
Be able to evaluate and research reset discrepancies across Aladdin tools and source borrower data
Candidate should possess 1-5 years of financial services experience and have a good understanding of Financial Markets, preferably within the Accounting, Investment Management, Income and payments or Global Custody environment.
Previous experience in Securities Lending, Accounting, Cash/Asset Reconciliation is preferred
Proficiency in Microsoft office products (with an emphasis on Excel) or other programming languages and an aptitude for learning new applications
Strong, effective analytical and problem solving skills
Organized approach to ensure follow up on outstanding issues and identify appropriate action to be taken
Attention to detail to ensure a high degree of accuracy for all tasks
Ability to multi-task and balance requests without losing sight of overall objectives
Exceptional decision making skills and ability to communicate effectively with senior management
Ability to work in a team environment and build strong relationships with colleagues and external contacts such as custodians, counterparties and other third-party providers
Ability to work in a fast paced, rapid changing, deadline driven environment
Excellent interpersonal skills to effectively articulate solutions to internal and external partners
Strong initiative to follow up on outstanding issues – identify what needs to be done and take action and see through to resolution
Knowledge of SQL and/or Python a plus
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 pilot
BlackRock’s current hybrid work pilot is designed to help you experience the best of both worlds: the opportunity to connect with colleagues in person and the flexibility to work remotely, with greater time to focus on what’s important to you. In line with local health guidance and regulations, employees are generally expected to work 3 days in the office and 2 days from home (on average) each week. For some business groups, more time may be required in the office, while greater flexibility may be in place for others. Our “One BlackRock” culture means you’ll be supported to collaborate with your new colleagues while bringing your full self to work – wherever you are.
The health, safety and well-being of our people will always be our top priorities; we will continue to monitor local conditions and health advisories in making decisions about our work environments.
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 careers.blackrock.com | www.blackrock.com/corporate | Instagram: @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
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, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
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.
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