Investment Accounting Analyst
About this role
BlackRock is one of the world's preeminent asset management firms and a premier provider of global investment management, risk management and advisory services too 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.
At BlackRock we are building something great in Budapest, our new global technology and innovation hub, where we want to shape a culture in which challenge, development and innovation happen every day. Our mission as an organisation is create a better financial future for our clients and BlackRock Budapest will enable this, through a relentless drive to make ourselves and our communities better. We are a diverse bunch of people who like to analyse, reinvent, and enhance how we work, and all in the pursuit of a better experience for our colleagues and clients. We offer the excitement to be a founder in a start-up with the security of a global, leading organization, where you will find innovation and inclusion are our competitive advantages. There are limitless problems to solve and opportunities for learning and development, alongside a team of clever and caring colleagues. Our culture is one of respect, challenge and stretch and we expect and value feedback. We believe that people reach their best potential when the different facets of their home, work and community are all cared about. We will have a fun, fast paced work environment located in cutting edge facilities, with competitive and innovative benefits, and the ability to define your role, pursue your aspirations and shape your future within Hungary and beyond.
This position is a part of Investment Accounting within the Controllers Group and is primarily responsible for assisting in the accounting, administration and reporting of alternative product carried interest revenue sharing programs. The Investment Accounting group is also responsible for the accounting and operations of BlackRock's $2.5B corporate investment portfolio, the quarterly consolidation of approximately 90 funds in accordance with US GAAP, the accounting and reconciliation of BlackRock's Seed Hedge Program and other hedging activities, accounting for BlackRock's debt and for reporting on the above activities in the Company's quarterly filings with the SEC.
The position will report to the Vice President of Treasury Accounting in New York and will have dotted line responsibility to Finance personnel in Budapest.
- Partner directly with a multi-functional and multi-national team that includes Portfolio Management teams, Human Resources, Tax, Legal, Revenue and Compensation Accounting and third party fund administrators, to administer the Company's carried interest plans.
- Communicate with management of various levels throughout the organization to obtain a complete understanding of carry plans from inception through dissolution and document details of such plans.
- Maintain accurate and timely plan data by General Partner entity, plan and participant. Establish open communication lines with appropriate partners, especially in Human Resources.
- Maintain GAAP and tax balances for reporting in the Oracle General Ledger and for reporting to plan participants.
- Produce periodic (quarterly/annual) management reports on the Company's General Partner entities and related carried interest allocations to participants.
- Produce and distribute periodic participant capital statements and payments to plan participants.
- Establish regular communications with the Revenue Accounting and Compensation Accounting teams regarding recognition of carried interest revenue and expense.
- Establish and reconcile operating and reserve bank accounts.
- Prepare payment requests for General Partner capital calls, tax payments and other invoices.
- Prepare monthly journal entries and account reconciliations.
- Assist with ad hoc projects and reporting requests
We are looking for people who are:
- Curious: You like to learn new things and have a healthy disrespect for status quo
- Brave: You are happiest outside your comfort zone
- Passionate: You feel personal ownership for the work you do and an aspiration to be better
- Open: You value and respect input from other
- Experimental: You make mistakes, but learn from them
- Geeky: You want to outsmart the problem.
You should have:
- 2+ years of financial accounting and reporting experience
- Experience Preferred:
- Previous major audit firm or large multi-national corporation experience
- Familiarity with Oracle/HFM
- Qualified accountant track
- Financial services experience
- Strong knowledge of uses of technology to improve efficiency
- A track record of delivering quality results in a fast paced, high volume environment.
- Attentive to detail while meeting critical deadlines and handling multiple tasks simultaneously.
- Strong organizational skills.
- Ability to operate effectively in a changing landscape with competing priorities.
- Strong verbal and written communication skills and a desire to keep global communication lines open.
- Drive to help the team continuously improve through learning and innovation.
BlackRock helps investors build better financial futures. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of March 31, 2019, the firm managed approximately $6.52 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit @blackrock | Blog: 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.
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