Description About this role
BlackRock Alternative Advisors (" BAA ") comprises BlackRock's hedge fund solutions platform. With over $31 billion under management, BAA provides hedge fund solutions and hedge fund-oriented co-investments to a broad array of institutional clients through commingled and custom fund structures.
BAA's hedge fund solutions product offerings encompass numerous investment strategies, product structures, and regulatory environments. This presents a multitude of complexities related to product structuring, portfolio implementation, trading & financing infrastructure, operating models, portfolio compliance, internal support teams & technology systems, and external counterparties & service providers.
Since 2006, BAA has managed various co-investment programs designed to provide clients exposure to direct co-investments sourced primarily through third party managers underlying BAA's hedge fund platform. Through opportunistic investment mandates, co-investments span public and private markets and include debt, equity and derivative exposures. BAA's co-investment portfolios require support including management of transaction review by BAA stakeholder support teams, as well as investment allocation, structuring, consummation, & settlement.
BlackRock Alternative Advisors ("BAA") is seeking candidates to join the Operational Due Diligence ("ODD") team, where they will have a wide array of responsibilities focused on underwriting and evaluating investment opportunities with third-party hedge fund managers across strategies and asset classes within BAA's global platform. The candidate will perform comprehensive operational reviews of underlying the hedge fund, including assessing personnel, policies, procedures and the overall control environment of the firm. Candidates will cover areas such as trade processing, asset valuation, third-party service providers, counterparty risk, regulatory developments, compliance, fund governance as well as technology and cybersecurity. The candidate will be responsible for performing assessments on new investment opportunities, ongoing monitoring of existing investments and meeting with leading experts across the industry and BlackRock, including C-suite and senior members of third-party hedge funds and service provider organizations.
Candidates should possess strong analytical and organizational skills, intellectual curiosity as well as a proven ability to work in a dynamic and collaborative environment across teams. Successful candidates should be driven, demonstrate outstanding attention to detail, excellent interpersonal skills, and have a passion for continuous development and improvement. Responsibilities:
- Conduct operational due diligence reviews on existing and prospective investments, including evaluations of hedge fund internal controls, operational support structure/personnel, trade processing environment, regulatory environment, compliance program, legal documentation, cash management procedures, valuation practices, NAV production, service providers, IT and cybersecurity, etc.
- Perform operational assessments and present findings to the Investment Committee
- Identify and deliver recommendations on best practices to external investment managers.
- Organize and lead meetings with hedge fund C-suite executives (e.g. COO, CFO) and other senior management personnel.
- Contribute to client engagement efforts and ongoing servicing
- Conduct reviews of key hedge fund service providers such as fund administrators, third party valuation agents, compliance and IT consultants, prime brokers, etc.
- Negotiate legal documentation with underlying hedge funds.
- Build a comprehensive understanding of the hedge fund and the broader alternative investment industry by participating in industry events
- Participate in strategic projects and initiatives around new and emerging market developments.
- Prefer at least 2 years of relevant experience, including public accounting, internal audit, alternative investments (e.g. hedge funds), etc.
- Outstanding verbal and written communication skills
- Outstanding analytical and organizational skills
- Ability to work with individuals at all levels in the organization and contribute to the strategic direction of the firm
- Collaborative contributor who thrives in a global team environment
- Drive to learn in a fast-paced work environment
- Ability to multi-task
- Critical and independent thinker with a solution-oriented mindset
- Willingness to travel domestically and internationally
- Programming (e.g. R, Python, etc.) and/or data visualization (e.g. Tableau) expertise, preferred but not required
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. Our hybrid work pilot
BlackRock's current hybrid work pilot is designed to help you experience the best of both worlds: the opportunity to connect with colleagues in person and the flexibility to work remotely, with greater time to focus on what's important to you. In line with local health guidance and regulations, employees are generally expected to work 3 days in the office and 2 days from home (on average) each week. For some business groups, more time may be required in the office, while greater flexibility may be in place for others. Our "One BlackRock" culture means you'll be supported to collaborate with your new colleagues while bringing your full self to work - wherever you are.
The health, safety and well-being of our people will always be our top priorities; we will continue to monitor local conditions and health advisories in making decisions about our work environments. 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.