Director, Investment Accounting – Derivatives Accounting & Reporting

BlackRock•Edinburgh, Scotland, UK

parttime

Accounting/Auditing and Finance

15+ years

About the role

About This Role Are you an Investment Accounting professional searching for a rewarding, significant, multi-faceted opportunity with the world's largest asset manager? Do you pride yourself on building positive relationships, developing process solutions and bringing strategic visions to fruition? Look no further. BlackRock is pursuing a Director of Derivative Accounting to become a part of the team. We recognize that strength comes from diversity, and will accept your rare skills, eagerness, and passion while giving you freedom to grow authoritatively and as an individual.

We know you want to feel valued every single day and be recognized for your contribution. At BlackRock we strive to empower our employees and actively engage your involvement in our success. Our technology and services empower millions of investors to save for retirement, pay for college, buy a home and improve their financial well-being. Join the team and experience what it feels like to be part of an organization that makes a difference!

Our Investment Accounting Group provides accounting and regulatory data services to insurance clients. Our accounting services include the reconciliation, tracking, accounting for assets, along with preparation and oversight of monthly accounting packages and regulatory schedules.

You will focus on delivering BlackRock to clients by supporting the monthly accounting close, leading client/department initiatives, improving the process and controls using capabilities of other parts of the BlackRock organization as required. You will have the opportunity for continued professional development with a career path within the group, or into other operating teams or client-facing business areas across BlackRock. Our suite of services provided to our clients offers opportunities for further personal learning, both in terms of the product types and accounting complexities, as well as the ongoing development of technical strengths.

Key Responsibilities

Support a team of 10+ professionals, demonstrating outstanding leadership and managerial skills
Acquire and maintain a detailed knowledge of BlackRock’s capabilities, and product structures
Support migration of derivatives to new Aladdin Accounting platform, ensuring that journals and reporting is accurate for clients
Support derivatives-centric accounting controls alongside our Investment Controllers Team and ensure that they are accurately maintained in accordance with company and SSAE audit requirements
Represent derivatives accounting on cross-functional projects and working groups in support of delivering key business and client objectives
Contribute to the continual development of the investment reporting production and control processes to optimize efficiency, mitigate risk and incorporate business and product changes, ensuring procedures are maintained in line with all current practices
Provide expert-level support in person and phone conversations with clients on derivatives-related matters
Conduct periodic training with the Investment Accounting Team on new derivatives strategies, product types, and accounting changes
Define quality control requirements and provide overall guidance to ensure compliance with internal/external accounting guidelines
Remain current on accounting pronouncements and upcoming changes
Provide input regarding the future direction and long-term strategy to support designated product enhancements
Coordinate and validate software functionality including recommendations for improvement
Identify, drive, and prioritize development requests and enhancements impacting BlackRock processes and systems

Knowledge/Experience/Requirements

The role would suit a qualified accountant (CPA, ACA, CIMA or ACCA); experience and knowledge of the insurance sector beneficial (not a requirement)
15+ years of financial/accounting work experience with invested assets
5+ years of supervisory experience
Firm knowledge of the business models of insurance companies including the regulatory and accounting constraints under which they operate
Familiarity with GAAP/STAT/IFRS and accounting policies as it relates to investments
Derivatives expert-level knowledge including:

Product specific knowledge of options (including swaptions, collars, etc), swaps (including FX, Credit Default, Variance, Total Return, Interest Rate, Inflation), FX forwards, futures
Familiarity with various derivatives trading strategies including: hedge accounting (general and qualified), Income Generation, RSAT (beneficial, not a requirement)
Understanding of cleared derivative mechanics (daily cash/valuation movements and accounting treatment by basis)

Experience working with automated accounting and front/middle office applications. BlackRock Aladdin knowledge beneficial (not a requirement)
Strong and effective communication skills to deal directly with clients and across all levels of staff and management
Strong decision-making skills to make well thought out decisions based on information provided
Strong attention to detail and project management skills

Our Benefits To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.

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 @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.

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