Fund Administrator, Associate

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • BlackRock
  • 29 Sep 16

Fund Administrator, Associate

APAC GFS Fund Administration Associate:

This diverse and challenging role has responsibility as part of a team for ownership of the fund administration oversight of BlackRock's Hong Kong and Singapore domiciled and serviced business, reporting to the Director of Fund Administration based in Hong Kong. Primary responsibilities will be ensuring the NAV oversight process is performed in accordance with BlackRock standards, managing the day to day service provider relationships and the management of fund accounting related product implementation and product change. The role also involves support of the Hong Kong/Singapore business via NAV oversight on a daily basis. The role covers both change management and exception management.

The BlackRock fund ranges overseen in Hong Kong and Singapore include the flagship iShares range domiciled in APAC, as well as Hong domiciled Trust funds and Cayman vehicles. The business is dynamic and growing and opportunities for Hong Kong based asset managers in mainland China are expected to be key focus of future business and product development.
The role demands an ambitious self-starter who can demonstrate high levels of initiative with a drive to succeed both as an individual and as a strong team player. The successful individual should demonstrate a commitment to technical excellence, flexibility and the ability to manage multiple activities and deadlines. An excellent communicator, they will use their strong influencing skills to develop robust collaborative working relationships with key internal and external stakeholders.

The role would suit an experienced senior fund accountant who is either a qualified/part qualified accountant (ACA, CPA or ACCA), or has equivalent technical and managerial knowledge and experience gained in a major investment accounting firm. Experience in an asset management company would be advantageous, but not essential.

Responsibilities :

  • Verification of the accuracy of fund prices provided by service providers.
  • Ensure that the NAV Oversight approach by the team is consistent with global best practice for control, oversight and management of vendors in the production of fund asset valuations. Where appropriate provide input and drive to enhance such processes.
  • Maintain strong relationships with the Fund Administration teams in Australia, Japan, Korea, Taiwan and EMEA, ensuring consistency of processes and optimal use of resources to provide various control and administrative duties (such as daily NAV review, tolerances checks, invoicing, etc.) so as to achieve complete and robust oversight of vendors and specific fund processes.
  • Build strong relationships with contributing business areas within BlackRock to improve the processes around new system functionality, fund launches and product changes. Maintain a strong working relationship with the Aladdin & Technology, Strategic Product Management and New Product Services Groups.
  • Build strong relationships with internal business areas and those at the service providers to ensure timely and efficient delivery of accurate fund valuations eg Shareholder Services, Trade Operations, Reconciliations, Portfolio Management.
  • Provide an authoritative source of business, industry and technical accounting expertise on functional and process requirements; manage change for key initiatives that impact across processes and people.
  • Represent BlackRock in the Hong Kong marketplace and where applicable and possible, participate in relevant industry working groups.
  • Ensure compliance with all relevant BlackRock policies and regulatory requirements across all Products.
  • Key BlackRock contact point for outsourced fund administration vendor relationships.
  • Know and understand the BlackRock fund structures and investments held.
  • Preparation of internal MIS reporting as well as the review of reporting provided by service providers to monitor performance against SLA's and identify areas of risk or improvement.
  • Assist in the co-ordination and review of Financial Statements and in managing local audits.
  • Assist in the co-ordination of the fund distributions including the construction of a time table and arrangement of reviews.
  • Validation of fees & rebates calculated by outsourced providers as well as external expenses such as custody related fees.
  • Aid the iShares Capital Markets Group in supporting Primary Market Participant requirements.
  • Addressing ad hoc queries from other BlackRock business units.
  • Contribute to Board or Committee reports reflecting operational developments, issues and actions and represent operations at board meetings and any specific sub-committee operating groups, as required.
Skills / Experience:
  • Relevant recognised qualification (ACCA, ACA, CIMA, CPA, CFA), or equivalent years-served industry experience preferred.
  • 5+ years post-qualification experience in the Mutual fund industry with fund accounting focus and exposure to retail, institutional and cash product.
  • Experience with exchange traded funds a benefit, including the creation and redemption process, but not compulsory.
  • Expertise in fund valuation as well as associated reporting and administrative requirements including specific knowledge of Hong Kong product issues such as anti-dilution mechanisms, performance fees, hedged share classes. Experience of UCITS products and administrative requirements would be an advantage.
  • Proven experience in operating effective control processes.
  • Thorough understanding of the fund valuation and associated transaction lifecycle and key control frameworks.
  • Strong understanding of investment processes and controls across all product structures.
  • Proven strong prioritisation skills and the ability to manage differing requirements from multiple 'clients'.
  • Strong ability and track record in determining and implementing change management to processes and products.
  • Proven ability to develop practical and pragmatic solutions through a 'hands on' approach.
  • Strong team player with excellent interpersonal skills.
  • Demonstrated ability to work with a broad range of functions within and outside of the business to deliver key initiatives
  • Can work effectively within a small team and also across several larger teams.
  • Initiative, drive and enthusiasm. Ability to motivate self through times of change.
  • Excellent attention to detail.
  • Excellent verbal and written communication capabilities - ability to interact with all levels, including directors, industry groups, business heads and the firm's senior management.
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, disability, veteran status, and other statuses protected by law.