BlackRock Alternatives Fund Accounting Oversight Associate

  • Competitive
  • Luxembourg
  • Permanent, Full time
  • BlackRock
  • 28 Sep 16

BlackRock Alternatives Fund Accounting Oversight Associate

Business Unit Overview:

BlackRock EMEA Fund Administration Function has responsibility for all NAV accounting matters across EMEA for pooled fund products, plus audit and financial statement production oversight. This involves responsibility for accurate and timely production of asset valuations produced by third party administrators, including shareholder taxation. The Team, amongst other things; has significant involvement in assisting various BlackRock departments in launch of new product and change management and closure of existing product. The team additionally supports relevant Fund Boards, assists Legal and Compliance in relevant regulatory and legal matters specific to the funds and supports Portfolio Management Group, Sales and Marketing teams through technical knowledge of both the funds in relation to jurisdictional requirements and accounting expertise.

The function is now recruiting for an experienced Fund Accountant to join the Alternatives Fund Accounting Oversight team in Luxembourg. The role is responsible for all aspects of the accounting and reporting function related to Alternative funds which includes hedge funds, fund of hedge funds, credit and limited partnerships. The team oversees the service providers and the calculation of the funds' valuations and contributes to the Financial Reporting and Regaulatory Reporting processes. In addition, the role includes the management of all fund expenses and reporting to the Boards and participation in various projects such as fund launches, restructurings and closures.

Key Responsibilities:

The associate will join the team responsible for our EMEA hedge fund range and Luxembourg domiciled closed end alternatives products within the Alternatives Fund Accounting Oversight team. The successful candidate will report to the Director of the Luxembourg team.

Specific responsibilities of the associate include but are not limited to:

  • Follow the effective control environment for the team to ensure adherence to established accounting policies and procedures.
  • Identify risk and escalate in a timely manner. Proactively identify and recommend improvements to internal and external controls and processes.
  • Review of Monthly NAV Calculations produced by an external Fund Administrator including review of Performance fees, capital accounts were applicable and budgets
  • Review of KPIs and attendance at Monthly Service Review Group meetings
  • Build strong relationships with all Business Operations and BLK teams as needed, including but not limited to, Financial Reporting, Regulatory Reporting, Portfolio Management, Global Client and Sales Support Group, Asset Management, Information Systems, Marketing, Risk Management, Trade Operations, Transer Agency Oversight and Legal to effectively deliver on the businesses evolving data and accounting needs on an ad hoc and recurring basis as well new fund related structures and reporting needs.
  • Participate in the review of interim and yearend financial statements. Work with the Financial Reporting team and external auditors for the audit process to ensure accurate and timely delivery of audited financial statements.
  • Work closely with the Transfer Agency Oversight team for the investor level related allocations and issues arising.
  • Manage the expenses payment to third party vendors through the centralised Vendor Invoice Management system.
  • Participate in projects on the Alternative products such as fund launches, contributing from an Accounting perspective.


The Associate must be able to work independently, and as part of a team both within the Fund Administration team and across functions. The position requires the ability to handle multiple tasks, meet reporting deadlines and flexibility. Computer literacy is essential as many computer systems are used on a daily basis. The employee must also possess accounting and analytical skills, alternatives experience and problem solving skills. The Associate must have strong interpersonal and communication skills.

The associate should have a good working knowledge of hedge fund administration and closed ended products. Partnership accounting experienced will be considered an advantage.

An Accounting qualification such as ACCA or CIMA is preferred and a minimum of 3 years Fund Accounting in the alternatives sector is required.