Analyst/Associate – Middle Office Operations (Public Credit)
BlackRock · Posted Oct 26
Investment management, asset management, risk analytics, and wealth services
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About the role
HPS Investment Partners, a part of BlackRock, is a credit-focused alternative investment manager whose Private Financing Solutions platform spans private credit, liquid credit, asset-based finance, real estate and CLOs. The Middle Office team within PFS ensures fund positions and cash balances are accurate and manages the lifecycle of all trades and investments. This Analyst role sits in the Public Credit Middle Office subgroup supporting the liquid credit business through cash and position reconciliations, trade-lifecycle operational support, and coordination with custodians, fund administrators, auditors and technology teams.
What you will do
- Research and resolve cash breaks versus custodians.
- Research and resolve position breaks versus custodians, clients, administrators and other systems.
- Perform cash and asset reconciliations between internal systems, including Aladdin, and custodians.
- Play a key role in the daily reconciliation between HPS and BlackRock accounting systems.
- Provide daily oversight of loan and security administration in the firm’s accounting system, including delayed fundings, contracts, coupon payments, factor payments and maturities.
- Investigate transactional or accrual discrepancies.
- Provide full trade-lifecycle operational support for products including fixed- and floating-rate bonds, private placements, ABS, cross-currency swaps, term loans, delayed-draw term loans and revolvers.
- Contribute to the design and implementation of onboarding processes for new investments, including trade lifecycle, cash management, valuation, PnL recognition and reconciliation.
- Work closely with custodians, including responding to questions on how to apply cash.
- Assist with position confirmation and provide support to internal and SMA auditors.
- Interact daily with internal and external groups to troubleshoot booking and position discrepancies, including Front Office, Fund Accounting, Fund Administrators, SMA clients and auditors.
- Collaborate with technology teams on automation and workflow enhancements and execute User Acceptance Testing (UAT), including scenario testing and error resolution before production release.
- Liaise with accounting, product control, valuations, investment data and other internal groups to resolve open queries and support team objectives.
- Participate in cross-functional initiatives and group-level projects.
- Manage transactional data for alternative products by sourcing information from legal documents and third-party notices and entering it into internal systems.
- Assist in trade execution.
- Ensure relevant controls are in place and diligently followed to maintain a risk-controlled environment.
- Provide oversight of daily and ad hoc processes and assist with issues, escalations and complex scenarios.
- Collaborate with external service providers and internal teams to exchange product and asset data and resolve operational issues.
- Maintain and regularly update process documentation and control frameworks.
Skills used in this role
What the employer is looking for
- Master's degree in Finance or Accounting or relevant field.
- 2+ years of experience in middle office/operations, data management, accounting or administration, with a focus on alternative investment funds.
- Deep understanding of alternative investment products, including hedge funds, structured products and private equity.
- Knowledge of trading and settlement.
- Understanding of lifecycle events, including coupons, factors, amendments, tenders and maturity.
- Experience with cash and position reconciliation.
- Strong Excel and Outlook management skills.
- Enjoys problem solving and critical thinking.
- Ability to resolve complex issues efficiently and independently by applying knowledge from training and past experience.
- Curiosity and a strong desire to learn and build knowledge continuously.
- Ability to use lookups, pivot tables and extensive formulas and to build them from scratch.
- Ability to manage a high volume of email without missing important items, respond promptly and escalate when necessary.
Benefits and support
- strong retirement plan
- tuition reimbursement
- comprehensive healthcare
- support for working parents
- Flexible Time Off (FTO)
About BlackRock
BlackRock, Inc. is an American multinational investment management corporation and the world's largest asset manager. The firm provides institutional and individual clients with a broad range of investment, advisory, and risk management products, including its proprietary Aladdin financial technology platform. Headquartered in New York City, BlackRock manages trillions in assets across global equity, fixed income, alternative investments, and iShares exchange-traded funds (ETFs).
- Industry
- Investment Management
- Company size
- 24900 employees
- Founded
- 1988-03-09
- Location
- New York, New York, USA
- Funding stage
- Public Company
Leadership
Chairman and Chief Executive Officer
President and Director
Chief Financial Officer and Global Head of Corporate Strategy
Chief Operating Officer
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