BlackRock Strategic Product Management (SPM) – Product Structuring Associate

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • BlackRock
  • 25 Sep 16

BlackRock Strategic Product Management (SPM) – Product Structuring Associate

BlackRock is one of the world's preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. BlackRock offers a range of solutions - from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world's capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.

Business Unit Overview:

Product Development is viewed as a core discipline at BlackRock, where it has been recognised that successful product development is the focal point for the impartial analysis of new ideas and brings together different skills from around the business to turn those ideas into realistic product propositions. It is important to ensure that this function delivers products which combine the investment capabilities with the distribution potential of the firm, whilst ensuring robust operational support. At BlackRock the responsibility for product development (ex iShares) and range management activities for EMEA pooled funds has been brought under the EMEA Strategic Product Management (SPM) team.

SPM Product Structuring is a division of SPM which leads decision making in relation to the structuring of products and advising the business in relation to funds regulation. The team comprises qualified funds lawyers and is responsible for, among other thing, navigating multi-jurisdictional frameworks to structure optimal solutions for clients and BlackRock, preparing fund offering documents, and engaging with the boards of directors and regulators to obtain approvals of new product launches and changes to products.

Job Purpose/Background:

The SPM team is responsible for the development, ongoing maintenance and governance of BlackRock's large and diverse range of funds established in multiple domiciles throughout the EMEA region and distributed to clients around the world. The broad remit of the team results in it performing a wide range of functions, including: market, competitor and fund range analysis; the business analysis and design of specific ideas; the project management of fund launches/changes (launch leadership), including detailed product structuring; the production and ongoing maintenance of fund documentation, including the submission to an agreement with regulators; the co-ordination of the registration and listing of funds in all jurisdictions required for distribution and; the provision of support and liaison services to the various boards of the funds and their management companies and other core fund support services provided to internal teams. This is a high profile role that is business critical given the importance of delivering products in a timely fashion but within a robust governance structure that protects the integrity of the firm as viewed by our Regulators, competitors and clients.

Key Responsibilities:

  • Provide advice to the sales, portfolio management, strategy teams and wider business on the most appropriate product structures and solutions for pooled products.
  • Manage production of fund offering documentation (including drafting, managing multiple stakeholder amendments and comments, ensuring compliance with appropriate regulations, working closely with the Legal function)
  • Manage the regulatory process for fund creation/amendment
  • Partner with stakeholders within SPM internally and with other teams within BlackRock (such as client facing teams, portfolio management, operational teams) to implement the product strategy, development and change agenda.
  • Provide input and advice to the wider business on all aspects of product structuring.
  • Support the strong governance and control framework in place across BlackRock EMEA with robust processes and procedures in place to meet all regulatory and statutory obligations.
  • Present fund launch/change propositions, and the relevant documentation, to the relevant boards of directors of the fund companies and/or management companies.
  • Liaise with regulators to obtain product launch/amendment approval, as necessary.
  • Engage in industry / regulatory consultations and particulate in external industry events, as and when appropriate.

  • Qualified lawyer (>1yr PQE) ideally from a city law firm or asset management house with experience in structuring AIFs in Luxembourg, Ireland, the UK and/or Cayman Islands (or other offshore jurisdictions).
  • Previous experience in advising on funds / structures / distribution. Experience in closed ended funds (such as UK investment trusts) and/or Swiss funds would be a particular advantage.
  • Strong understanding of a broad range of financial instruments, asset classes and investment strategies. Experience with products that invest in assets of limited liquidity would be beneficial.
  • The right candidate must have strong working knowledge of all aspects of AIFMD. Experience with the FCA's AIFMD implementing rules and processes would be beneficial.
  • Excellent communication and presentation skills with the ability to build relationships across the business, operations and suppliers at all levels of management, including boards of directors and senior management at BlackRock
  • Proactive, diligent and responsive approach to lead and direct change
  • Strong personal and project management skills and the ability to run multiple projects at any one time
  • High level of intellectual agility and creativity, ability to work independently as well as part of a team and the ability to manage business expectations and input from multiple stakeholders.