Associate, Provider Strategy (Operations)
Description About this role BlackRock China Fund Management Corporation (FMC):
BlackRock's purpose is to help more and more people experience financial well-being and the firm has a long history of investing in and serving investors in China. BlackRock aspires to become the leading asset management firm operating in China and is committed to contributing to the long-term development of the local asset management industry. BlackRock China Fund Management Company, a Shanghai-based wholly-owned subsidiary of BlackRock, aims to extend its asset and risk management expertise and offer Chinese investors innovative and diversified mutual fund products and investment solutions to help transform more cash savers into long-term investors. Team Overview
BlackRock's GPS team is responsible for using scale, industry knowledge, and risk management capabilities to build and expand partnerships with leading financial institutions, achieving the delivery of high-quality service to our firm's clients. To achieve each of these goals, GPS develops and implements a forward-looking provider strategy designed to increase operational efficiency, provide risk and cost visibility, and provide flexibility as our business evolves, leading to an enhanced client experience. To balance our relationships, GPS executes a provider governance model that combines quantitative and qualitative components, encompasses a consistent engagement program between BlackRock and our partners, mitigates operational risks, and sets parameters for the selection of new partners. Role Description
We are searching for an outstanding teammate to join GPS in Shanghai. This is an exciting opportunity to join BlackRock as we begin our onshore presence in China and launch our first products to Chinese citizens! This new hire will drive BlackRock's post-trade strategy by supporting BlackRock's FMC business needs including encouraging strategic partnerships with FMC operation, service providers and custodians. Additionally, this teammate will manage the governance and strategy relating to the oversight of risk, implementation of control frameworks, and provision of metrics & management information. As an Associate / VP on the team, your responsibilities may include:
Qualifications, Knowledge and Experience:
- Day-to-day relationship management with FA/TA service provider (multiple touchpoints)
- Manage China Fund Management Company's custodian relationships
- Key interface between BlackRock management team and Provider management teams and central point of escalation for all major providers related issues
- Drive commercial terms negotiations with respect to fees, taking into consideration Provider cost structures, potential savings and broader enterprise-wide relationships
- Assist with design and enhancement of the overall governance model for FMC China post trade providers
- Lead Due Diligence and onboarding for new local custodians
- Lead Provider Selection (RFI/RFP), Due Diligence & onboarding of potential new post trade providers & custodians
- Assist with implementation of the GPS oversight programs for ongoing monitoring of provider performance
- Ensure BlackRock's contracting principles are included in the provider contracts and partner with legal on provider contract reviews
- Partner with L&C, internal audit and RQA to carry out Risk assessments
- BS/BA degree in accounting, finance, economics or a related field, advanced degree preferred
- At least 5+ years' experience in a fast-paced, asset management or custodian bank environment in China
- Good understanding of Fund Management Companies (FMC) and the boarder industry trends/challenges
- Ideally someone with operation background in FMC or other local asset managers
- Ability to self-manage workloads, proven team member, and has strong attention to detail
- Highly effective oral and written communication skills; proficient in Chinese and English
- Work collaboratively with team members and internal constituents in supporting strategy, analysis, reporting, and contract administration
- Broad knowledge of product operations including technology systems, legal structures and fund types etc.
- Strong interpersonal and stakeholder management skill
- Ability to lead projects and work in a dynamic evolving environment with the expectation of meeting Fiduciary needs
- Ability to work and deliver results independently, a self-starter
- Proficient in Microsoft Office products, emphasis on Excel and PowerPoint.
To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about. About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children's educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment - the one we make in our employees. It's why we're dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
For additional information on BlackRock, please visit careers.blackrock.com | www.blackrock.com/corporate | Instagram: @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
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, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.