Associate, Cash and Asset Reconciliation - Princeton
About The Position
About this role About this role Team Overview: Technology and Operations (“Tech&Ops”) supports the development of the firm's operating infrastructure to support BlackRock's investment businesses worldwide. Tech&Ops establishes and coordinates operational procedures internally and externally with clients, custodians, accounting agents, prime brokers, broker-dealers, and other vendors, as well as strengthens BlackRock's relationships. Global Fund Distributor Operations (“GFDO”) is a unit within Tech& Ops. The Fund Distributor Payments team performs the reconciliation and payments of fees to US Distribution Partners that distribute the US Mutual Fund, 529 products and ETFs. In addition to invoicing, the team’s responsibilities include but are not limited to: assisting partners in contracting, leading operational relationships with third party distributor invoicing operations, and assisting in economic reviews including management reporting.
Requirements
- Bachelor’s degree or equivalent experience in Finance, Accounting, Information Technology, Economics, or related field.
- 4+ years’ experience in payment operations, reconciliation, or financial services preferred.
- Strong analytical, problem-solving, and decision-making skills.
- Advanced proficiency in Microsoft Excel; experience with SQL or Power BI is a plus.
- Ability to interpret complex legal and financial contracts/agreements.
- Excellent attention to detail and organizational skills; able to manage several priorities in a fast-paced environment.
- Strong initiative and follow-through on outstanding issues.
- Commitment to service excellence and effective communication with internal and external partners.
- Flexible, adaptable, and open to new challenges.
- Experience with automated reconciliation tools or financial systems.
- Understanding of upstream processes impacting reconciliation and ability to assess the effect of changes.
- `Proven ability to work independently and as part of a team, maintaining high standards under pressure.
Responsibilities
- Maintain, analyze, and reconcile intermediary and ETF invoicing data from transfer agents and third parties within core systems.
- Set up and modify fee agreements in Fee Manager software, including banking details, CUSIP changes, fund mergers, and closures.
- Research and resolve discrepancies between BlackRock and external data sources using Excel, SQL and other tools.
- Monitor exceptions and bring up fee discrepancies to ensure errors are identified and resolved promptly.
- Ensure all payments are completed accurately and on time, meeting agreed service levels and maintaining a client-focused approach.
- Generate and manage control reports to track fee status and recommend operational improvements.
- Maintain a robust control environment both internally and with fund service providers to mitigate risk.
- Collaborate with compliance and contracting teams to ensure invoicing language aligns with agreements and regulatory requirements.
- Drive efficiency and innovation by continuously reviewing operating procedures and evaluating technology improvements, including AI solutions.
- Participate in special projects, such as large-scale data reconciliations and system integrations.
- Work closely with business heads, relationship managers, and other partners to deliver exceptional client service.
- Support cross-functional teams (Contracting, Sales, Finance, Fund Accounting, Accounts Payable, Audit) to process payments and enforce contractual terms.
Benefits
- employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits
- strong retirement plan
- tuition reimbursement
- comprehensive healthcare
- support for working parents
- Flexible Time Off (FTO)
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Number of Employees
5,001-10,000 employees
