Fund Accountant, Alternatives

Job Description

About this role

BlackRock is one of the world’s preeminent asset management firms and an elite 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 detailed fundamental and quantitative active management approaches sought at increasing outperformance to highly efficient indexing strategies crafted 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:

BlackRock Finance consists of Finance professionals in subject areas such as Accounting Policy, Tax, Financial Planning and Analysis, Treasury, Accounting Operations and Corporate Accounting. Within the Controllers’ Group, we are responsible for ensuring the integrity of the financial data in accordance with applicable financial standards and regulatory frameworks.

Job Purpose / Background:

We are looking for an upbeat and proactive individual to join the General Partner Accounting – Alternative Products team as an Associate. The ideal candidate will be detail oriented, highly analytical and proactive in motivating change to increase efficiency while maintaining effective controls. In this role, this individual will be responsible for assisting in the accounting, administration and reporting of alternative product carried interest revenue sharing programs for BlackRock’s investment managers. The Associate will also assist with special projects. The group prepares the accounting records for 150+ GP carry plans, processes participant capital distributions, provides capital statement and regulatory reporting and prepares all carried interest-related corporate accounting entries and reconciliations.

This position will report to the Director of GP Accounting & Administration in New York and will have dotted line responsibility to Finance personnel in Atlanta.

Development Value:

• This role supports the continued growth of the BlackRock’s Alternatives business.
• The role interacts with both Finance and non-Finance teams globally.
• This role supports the continued growth of the BlackRock’s Alternatives business.
• This role will provide the candidate with an understanding of the accounting and administration of general partnerships.

Key Responsibilities:

• Partner directly with global, multi-functional teams to administer the Company’s carried interest plans.
• Connect with management of various levels throughout the organization to acquire 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 using the eFront G/L system. 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 participants.
• Produce periodic (quarterly/annual) management reports on the firm'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.
• Prepare monthly journal entries and account reconciliations.
• Assist with ad hoc projects and reporting requests
• Mentor and develop junior team members

The role will partner with several departments within Finance including Tax, Financial Planning & Analysis, Revenue and Compensation Accounting as well as departments outside of Finance such as Portfolio Management teams, Legal, Fund Administration, Human Resources, external consultants and third-party fund administrators.

Knowledge / Experience:

• 5-8 years of accounting/tax experience (public and multi-national preferred)
• Accounting degree
• Strong verbal and written communication skills
• CPA license or CPA track
• Experience in the preparation of internal management reports, tax reporting and/or financial documents
• Proficiency in the Microsoft Office suite

Proficiencies:

• Diligence with details while meeting critical deadlines and prioritizing multiple tasks simultaneously.
• Ability to operate effectively in a changing landscape with challenging priorities.
• Excellent social skills and a desire to keep global communication lines open.
• Aim to help the team continuously improve through technology solutions and innovation.

Our benefits
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.