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Fund Accounting Oversight Associate EDI

Aggregator Network
Job LocationEdinburgh
EducationNot Mentioned
SalaryCompetitive salary
IndustryNot Mentioned
Functional AreaNot Mentioned
Job TypePermanent, full-time

Job Description

DescriptionAbout this roleTeam OverviewIs driving your career to the next step meaningful to you By joining this evolving and growing team within the BlackRock EMEA Fund Accounting Oversight Function in Edinburgh will increase your chances. Your primary focus will be to own the Regulatory Cost Disclosure process, covering MIFID II, PRIIPS, BWP, UCITS KIID, etc. Your secondary focus will consist of a broader engagement the EMEA Fund Accounting Oversight Function. You will have responsibility for all NAV accounting matters across EMEA for pooled fund products, plus audit and financial statement production oversight. You and the Team, amongst other things; have significant involvement in assisting with new product launches and change management and closure of existing product. You will additionally build relationships with Fund Boards, assists Legal and Compliance in relevant regulatory and legal matters specific to the funds. You will also support the Portfolio Management Group, Sales and Marketing teams through technical knowledge of both the funds in relation to jurisdictional requirements and accounting expertise. The Regulatory Cost Disclosure requirement has enhanced over the last couple of years and therefore requires a dedicated resource, in conjunction to working with the wider team. The function has a core team in Edinburgh, which provides a centralized group responsible for the oversight within EMEA of the daily pricing and monitoring activities performed by our third party fund administrators. The firm currently has in excess of $750bn of assets administered across a number of major third-party administrators within the EMEA region. The primary function of the team includes:

  • Oversight of third-party fund administrators pricing and control activity to ensure that all funds are priced within the required deadlines and to the required accuracy standards.
  • Monitoring of reconciliations and controls produced by the third-party fund administrators
  • Coordination across departments within BlackRock and with external administrators to resolve issues impacting agreed pricing and monitoring deliverables and to ensure the continual improvement of the operational and control environment.
  • Provide ongoing management oversight of BlackRocks third-party administrators through the establishment of working partnerships, continual update of SLAs and monitoring of service delivery against defined KPIs.
  • We are looking for an individual who is a self-starter, dedicated and flexible, can demonstrate initiative with a commitment to succeed both as an individual and as a great teammate. Experience of people management and coordinating time critical processes. The successful individual should demonstrate technical excellence, flexibility and the ability to creatively lead multiple activities and deadlines. As a good communicator they will use their influencing skills to develop strong rapport with key internal and external partners.
  • Ideally, this role would suit people with backgrounds in Fund/Investment accounting, Accountancy and Provider Management. Excellent written and verbal communication and high emotional quotient to effectively work with the business, providers and all levels of personnel within BlackRock. This role provides real opportunities to collaborate with and work alongside the product groups and the chance to seek roles into other Operating Teams or into the product or client facing business areas.
    • Role ResponsibilitiesPrimary
  • Management of the FA element of the Regulatory Cost Disclosure process.
  • Handle the resolution of tolerance/data exceptions identified from the third-party fund administrators data.
    • Secondary
  • Own the Fund price spread process including the monitoring of regular spreads and the application of special dealing spreads
  • Monitor reconciliations and that there is timely resolution of breaks or errors
  • Creatively ensure accurate preparation of reports to fund boards and management committees
  • Take ownership of all tasks and activities undertaken to meet requirements of the regulatory regime and that any exceptions/breaches are reported to line management immediately
  • Develop knowledge of fund accounting requirements of particular fund ranges and understanding of specific fund types/ranges.
  • Work with other Fund Administration teams on fund specific activities for example fund distributions, Report and Accounts preparation, collation of data for internal reporting.
  • Dedicatedly build and maintain working relationships with providers and other areas within BlackRock, in accordance with agreed standards and in a timely, accurate and complete manner.
  • Carry out continual development of pricing processes to optimise efficiency, mitigate risk and incorporate business and product changes.
  • Prepare key performance indicator data and management information for regular reports to management
  • Be aware of product, business and regulatory changes and dedicatedly seek involvement in the resultant initiatives and projects
    • Thirdly
  • All financial aspects of BLKs provider relationships:
  • Focus on the relationship between BLK and third party providers, encompassing the full range of services delivered.
  • Liaise with BLK Finance and business heads to prepare annual plan for provider spend, ensuring that all business change impacts / new business is understood, considered and aligned into plan
  • Produce and enhance monthly reports including appropriate analysis and commentary on the provider financials, investigating thoroughly all material variances to forecast, to plan, and month-on-month.
  • Review and undertake supervising activities over all invoices received from providers.
  • Maintain procedures for all 3rd party provider fees.
  • Supervise Service Credit process, including calculation and collection of payment.
  • Maintenance and ongoing development of Fee Billing Database, initiating and supporting improvements when vital.
  • Measure provider performance against SLA, collating service management data.
  • Work with providers, striving to constantly improve service.
    • Experience
  • Strong acumen in an operational/accounting role, ideally in a fund management environment.Able to demonstrate a level of business insight and technical understanding of a range of investment

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