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Vice President, Collateral Management - Derivative Documenta

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Job Details
Job Order Number
JC140399300
Company Name
BlackRock
Physical Address

Wilmington, DE 19806
Job Description

Vice President, Collateral Management – Derivative Documentation

US

Investments OperationsDEWilmington,,Requisition #: R191472

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Vice President, Collateral Management – Derivative Documentation

Description

About BlackRock

BlackRock helps investors build better financial futures. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of March 31, 2019, the firm managed approximately $6.52 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com Twitter: @blackrock at https://twitter.com/blackrock Blog: www.blackrockblog.com LinkedIn: www.linkedin.com/company/blackrock .

Job Description:

Organization

Bus Ops-GIO-Collateral Mgmt & Pmts

Functional Role

Vice President – Derivative Documentation team

Market Title

Vice President

Technology & Operations

The Investment Operations team plays a key role in the continued success of BlackRock including supporting the continued business growth, managing the control environment and reducing risk, increasing efficiencies and strengthening relationships with our internal and external clients.

The global team is responsible for the middle office and operations functions supporting BlackRock’s business across all products and funds which trade a variety of derivatives. These cover all asset classes including credit, rates, inflation, and equity derivatives. Products traded include IRS, Swaptions, CDS, Index, Structured Credit, Inflation Swaps, Repo, TRS (on a variety of underlyings), FX variance and Equity Variance Swaps across a range of G10 and emerging market currencies.

We are looking for high-quality candidate to join the team and help deliver on our key operational goals including our medium and longer-term change and strategic agenda and supporting the ambitious business plans in this area. You will be working as part of the Documentation team, and liaising closely with other business operations teams, including legal and compliance, portfolio managers and client relationship teams globally, as well as external counterparts.

This is an excellent opportunity to learn about the investment management business as well as the derivative documentation supporting the investment activity at the largest money-manager in the world.

Team Overview

The Derivative Documentation team is responsible for role is based in the Delaware Office. The team is responsible for oversight and management of trading Agreements for BlackRock’s U.S., Canadian and Latin American advisors and underlying client relationships, including the management of counterparty relationships. This includes the strategic and operational oversight of onboarding activity related to trading agreements for all asset classes, including credit, rates, inflation and equity derivatives.

Role Responsibility

The successful candidate would join the team that is responsible for the functions listed below and would have further opportunity to develop and work across other roles as their career progressed. The core functions are:

• Play a significant role in maintaining and managing relationships with counterparties documentation and on-boarding teams

• Accountable for inputting legal and derivative data into DECO system, e.g. dealer ratings, minimum transfer amounts and call times for collateral

• Fully utilise all BlackRock internal systems (Aladdin) and ensure information is up to date and relevant.

• Responsible for maintaining the collateral platform to ensure the ISDA/CSA terms are interpreted and accounts are assigned accurately based on the legal agreements

• Key liaison between multiple business lines globally and the Investment Operation teams in a number of locations

• Responsible for overseeing strategic architecture and design on platform enhancements to operational processes

• Develop critical internal relationships with the Trading teams, portfolio managers, Client Relationship Managers, Compliance and Legal

• Gain a full comprehensive understanding of BlackRock’s operational processes and systems relating to Derivative Operations

• When required be the Derivative Documentation representative for external parties including clients, auditors and consultants

• Implement derivative operating policies.

• Manage MCA process in support of Legal & Compliance, Transaction Management, etc., performing ISDA List Reviews in conjunction with the EMEA Derivatives Docs Team to ensure all relevant ISDAs and underlying funds are covered; expedite internal global execution utilizing the BlackRock International Signatory Contact List and protocols

• Manage Prime Brokerage Documentation with all PB counterparties, ensuring archiving in DOX and US Deriv Docs Folders of PB and related agreements (PBA, TMA, SLA, ICAA, IAA, Lock Ups, Market/Country Annexes, Options, Port. Margin, etc.)

• Liaison with PB counterparties for fund launches, additions of existing funds, new products, etc., fostering rapport and managing consistent processes with PB counterparty contacts for all on boarding events

• Manage Prime Brokerage Transfer Process with PBF and all key internal and PB counterparty contacts for transfers

• Manage the ODI (India Synthetic Trading) KYC process in collaboration with Legal & Compliance and applicable PB counterparties

• Manage the Contracts for Difference (CFD) documentation on boarding for new and existing funds that will trade CFDs, from engaging PBs and amending documentation through to coding in DECO and PSA

• Manage adjustments and set ups in PSA for CFD financing and tax withholding

Experience

Experience required / to be developed

• Good knowledge and experience of fixed income and equity products including derivatives – in particular knowledge of credit, interest rate, inflation and equity derivatives is advantageous

• Business knowledge – understanding of the application of derivatives within an investment strategy, specifically the relevant risks and appropriate controls required across the transaction lifecycle

• Demonstrate an understanding of operational and credit risks, and the use of collateral and margining as tools for risk management

• Experience in middle office or operations at a top-tier investment manager, hedge fund or investment bank

• Functional expertise on OTC confirmations, ISDA-based confirmations and collateral management valuable

• Knowledge of derivative documentation, particularly ISDA/CSAs and collateral management, would be beneficial

Skills required / to be developed

• Willingness to learn and desire to develop an in-depth knowledge of derivatives, market practices & regulations, as well as shaping BlackRock’s approach to derivatives products & processes

• Structured and organised approach with a very strong attention to detail and diligent work ethic

• Enthusiastic and have a desire to learn. In addition to BlackRock-managed development, the individual should also seek out opportunities for further development of knowledge, and should be able to evidence this in their current role

• Must have excellent communication skills both written and verbal, and be comfortable communicating with peers and senior management

• Takes initiative, is ambitious and looks to


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