About this roleDepartment DescriptionThe Middle Office team is responsible for ensuring the funds positions and cash balances are as accurate as possible. They manage the life cycle of a trade/investment. They are responsible for trade capture, trade settlement, loan administration, daily cash and position reconciliations, corporate action elections/recordings and PnL break analysis and resolution with fund administrators. In addition, they provide oversight of the managed service/outsourced providers they use. The Middle Office team handles ad-hoc request that come from the deal team and/or separately managed account clients. The Middle Office team will provide the deal team with performance metrics (IRR/MOIC) upon deal realizations. The Middle Office team is also responsible to ensure all of the funds leverage providers are paid their interest and principal accurately and in a timely manner. The Middle Office team interacts closely with the Deal Execution, Treasury, Fund Accounting, Fund Finance, Cash Management, Valuations and the Deal teams daily.
Position Description HPS is seeking to recruit an Associate to join the Credit Facility Management team in New York.
The recruit will focus on the operational components of managing credit facilities across the HPS platform and the end-to-end lifecycle of trade execution and settlements. Responsibilities include, but are not limited to, borrowing base maintenance, borrow and paydown facilitation, reporting requirements, maintaining covenant compliance, and managing the end-to-end lifecycle of trade execution and settlement.
The individual should have exceptional organizational skills with strong attention to detail. The individual should have the ability to meet strict deadlines, as well as work independently and as part of a team. A desire for a fast-paced environment is crucial.
Responsibilities Specific responsibilities will include but not be limited to the following:
- Facilitate monthly, quarterly and annual reporting requirements for financing across the HPS platform
- Facilitate borrow and paydown requests to lenders
- Maintain relationship with custodian for asset facilities and facilitate bank account opening where required
- Review monthly or quarterly waterfalls and custodial reports in connection with financing
- Maintain compliance with underlying credit facility covenants
- Manage the closing process and ensure all transfer documents (i.e. Assignment and Assumptions) are executed timely and book into internal systems in accordance with legal documents
- Communicate with deal team, legal team, tax team, and agent banks to resolve settlement bottlenecks and KYC requirements
- Manage inbox and follow up on flagged issues to ensure timely resolution
- Proactively identify and implement opportunities to optimize workflows and enhance operational efficiency
- Lead trade booking and wire processing activities in Aladdin, ensuring accuracy and timely execution
- Review and validate lender-provided interest and fee invoices by independently recalculating amounts to ensure accuracy prior to booking
Candidate Profile- Graduate with a bachelor's degree
- 1-3 years of experience in financial services industry (preferably with experience in credit fund middle office operations)
- Understanding of credit facilities and private credit fund structures is a plus
- Understanding of bank loans
- Experience with S&P Markit, Clearpar, Aladdin, or VPM is a plus
- Strong excel skills (Vlookups, Sumifs)
For New York, NY Only the salary range for this position is USD$105,000.00 - USD$135,000.00 . Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.
Our benefitsTo 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.
Our hybrid work modelBlackRock'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.
Guidance on AI use for candidatesAt BlackRock, AI has long been part of how we work - enhancing decision-making, improving operations, and helping us deliver better outcomes for clients. We encourage candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during our interview process, we want to focus on getting to know you through your own experiences, thinking, and judgment. To support you, we've provided
guidance on when and how to use AI during our hiring process so you can approach each step with confidence and showcase your best self.
