Vice President, Private Credit Middle Office, PFS - Delaware

BlackRock•Wilmington, DE

1d•$125,000 - $150,000•Hybrid

About The Position

HPS Investment Partners, a part of BlackRock, is a leading global, credit-focused alternative investment manager. The Middle Office team (MO) within Private Financing Solutions (PFS) – Blackrock’s private credit platform – is responsible for ensuring the Fund’s positions and cash balances are accurate. They manage the lifecycle of all trades/investments. They are responsible for trade capture, trade settlement, loan administration, daily cash and position reconciliations, corporate action elections/recordings, audit requests, new mandate onboarding, and PnL break analysis and resolution with fund administrators. MO handles ad-hoc requests that come from the deal team and/or separately managed account clients. The team interacts closely with the Deal Execution, Treasury, Fund Accounting, Fund Finance, Cash Management, Portfolio Analytics, Data Analytics, Valuations and the Deal Teams daily. PFS is seeking a Vice President to join the Middle Office Operations team. The individual should be highly organized with strong attention to detail, written and verbal communication skills. They should have the ability to meet strict deadlines, work independently and as part of a team, as well as possess excellent critical thinking/problem-solving skills. The platform is scaling very rapidly, so the desire for a fast-paced environment is crucial.

Requirements

Graduate with a bachelor’s degree in Finance or related field
8-12 years of experience in financial services industry, private credit preferred
Strong understanding of private credit
Cash and position reconciliation/oversight
Strong Excel and Outlook Management Skills
Knowledge of various operations and accounting related systems
Experience using a Security Master preferred
Deep understanding of alternative investment products (hedge funds, structured products, SMAs)
Experience using trade/accounting/security master systems; Aladdin, Digitize, FIS VPM IVP Products, ClearPar and/or Clearwater preferred

Responsibilities

Oversight and resolution of cash breaks vs. custodians
Researching and resolving position breaks vs. custodians/clients/administrators/other systems
Perform cash and asset reconciliations between internal systems (e.g., Aladdin) and custodians
Daily oversight of loan administration in the firm’s accounting system to support internal post close loan administration: tracking contracts, principal/interest payments and drawdowns
Play a key role in the daily reconciliation between HPS & BlackRock’s accounting systems
Investigate/help resolve any transactional or accrual discrepancies that may arise
Provide full trade life cycle operational support for products including but not limited to Bonds (Fixed & Floating Rate), ABS, Cross-Currency Swaps, Term Loans, Delayed Draw Term Loans, and Revolvers
Oversee settlement of secondary loan trades and direct lending
Work closely with custodians daily – fielding questions on how to apply cash, and building/providing amortization schedules for factored securities
Assist with confirming positions and providing support where needed for both internal and SMA auditors
Daily interaction with internal and external groups to troubleshoot any booking and/or position discrepancies (Front Office/Fund Accounting/Fund Administrators/SMA Clients/Auditors)
Manage the restructure/amendment process from start to finish. Collect information from deal team, coordinate with Valuation, Tax and Accounting to finalize activity, booking in IBOR/ABOR systems when event becomes effective
Collaborate with technology teams on automation and workflow enhancements; Execute User Acceptance Testing (UAT), including scenario testing and error resolution before production release
Liaise with multiple internal groups such as accounting, product control, valuations, investment data, etc. to resolve open queries and perform additional responsibilities as required to support team objectives
Engage in cross-functional initiatives and group-level projects
Manage transactional data for alternative products by sourcing from legal documents and third-party notices, and inputting into internal systems
Act as a Point of Contact for all external investment managers with regard to life cycle of our deals
Contribute to the design and implementation of onboarding processes for new investments, including trade lifecycle, cash management, valuation, P&L recognition, and reconciliation
Assisting and managing relationships with multiple managed service providers
Perform Detailed Investment Return reconciliation versus full fund administrator
Ensure relevant controls are in place and are being diligently adhered to by the team members to operate in a risk-controlled environment
Provide requisite oversight on daily and Adhoc process and assist the team in dealing with issues, escalations and complicated scenarios
Maintain and regularly update process documentation and control frameworks
Provide daily, weekly monthly reporting metrics to senior leadership
Coach and mentor junior staff on industry standards and best practices