About this role
Department Description
For this particular role, the BDC Accounting team’s primary responsibility is the books and records of a real estate private credit evergreen trust.This responsibility includes oversight, review and reconciliation of the books and records with internal teams including Middle Office, Cash Management, and Asset Management / Valuation as well as with external, third-party fund administrators. This responsibility includes NAV calculation and review, management and performance fees, expense review and management and various reporting relating items (SEC filings including 10Q/10-K preparation, board reporting and other management reporting). In addition to the core books and records, the BDC team works closely with Legal on fund setup and operation, with Product Specialist and Investor Relations on ongoing and ad hoc analysis and with Management Company Accounting on AUM, performance and fee reporting and revenue recognition.
Position Description
HPS is seeking to recruit an Associate level fund accounting candidate to join the real estate private credit evergreen team in Princeton, NJ. The candidate will be an integral member of the team responsible for review and reconciliation of the trusts’ books and records, liaising with both internal HPS departments and external third-party fund administrators. The BDC team associate will be involved in the closing of the books including NAV review and reconciliation, fee calculations and partners’ capital statement review among other responsibilities. Additionally, the Fund Accounting Associate will be involved in fund setup and operation and supporting various ad hoc internal and investor requests.
Responsibilities
- Working directly with the third-party sub-administrator to coordinate work and review all accounting deliverables to ensure accuracy and conformity with applicable accounting standards
- Liaise with administrator, custodian, transfer agent, and other outside vendors
- Maintaining shadow books and records and perform reconciliations to sub-administrator’s reporting package
- Management fee and incentive fee calculation and review
- Review of expenses for accuracy and coordination of accruals and payments
- Assisting with preparation of monthly and quarterly reporting deliverables to HPS
- Preparation of 10-Q and 10-K SEC filings, as well as management reporting
- Analyze complex accounting matters, including revenue recognition, valuation, credit facility accounting, and incentive fee arrangements.
- Assisting in preparing reports for the Board of Directors
- Be actively involved in Accounting Policy related discussions, understand and communicate the impact to the business, financial results and reporting/disclosure requirements if applicable
- Assisting with technology initiatives; lead process improvement initiatives
- Providing support and assistance to external auditors in their quarterly review and annual audit procedures
- Monitor compliance with regulatory and fund-specific requirements, including leverage, liquidity, and asset coverage tests.
- Ad hoc reporting and projects
Candidate Profile
- Bachelor’s degree in Accounting, Finance, or Economics preferred
- 3-5 years of combined work experience in a Fund Accounting, and/or public accounting role supporting clients within the financial services industry (preferably within Credit or Asset Management with exposure to Real Estate Credit)
- “Big Four” public accounting experience preferred
- CPA preferred
- Excellent communication skills, both written and verbal
- Ability to work independently with the willingness to constantly think outside of the box
- Highly organized and proven ability to execute and manage complex logistics, projects, and tasks under tight time constraints
- Strong analytical/logical mindset and attention to detail; extensive experience working with large sets of data is preferred
- Fluency required in Excel (VBA knowledge a plus), PowerPoint and Word
For Princeton, NJ Only the salary range for this position is USD$95,000.00 - USD$127,500.00 . 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 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.
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.
Guidance on AI use for candidates
At 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.
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