Director of Derivative Accounting

About this role

Are you an Investment Accounting professional searching for a rewarding, significant, multi-faceted opportunity with the world's largest asset manager? Do you pride yourself on building positive relationships, developing process solutions and bringing strategic visions to fruition? Look no further. Investment Accounting is seeking a Director of Derivative Accounting to join our global team. We recognize that strength comes from diversity, and value the unique skills, perspectives and experience you bring, while providing opportunities to grow professionally and personally.

The Investment Accounting Group provides accounting and regulatory data services to financial institutions. The team delivers reconciliation, asset tracking and accounting, monthly reporting packages, and regulatory schedules. Working across a broad range of products and accounting requirements, the team helps clients meet their financial reporting and regulatory obligations while maintaining effective production processes and controls.

Derivative Accounting, Director – Investment Accounting

As Director of Derivative Accounting, you will play a leadership role supporting derivative accounting capabilities and client delivery. You will help lead the monthly accounting close, advance client and departmental initiatives, strengthen processes and controls, and bring together capabilities from across BlackRock to address complex accounting needs.

You will combine derivatives expertise, people leadership, and client engagement to help ensure accurate accounting and reporting while contributing to the continued evolution of our investment accounting services. The breadth of products and accounting complexities will provide opportunities for continued professional development and collaboration across BlackRock.

Key Responsibilities 

In every role at BlackRock, you'll be expected to apply sound judgement and critical thinking to solve complex problems, adapt as the business evolves, and combine the curiosity to explore new approaches and technologies with the rigor to challenge the results. The scope of this role also includes the following responsibilities:

• Lead, coach, and develop a team of investment accounting professionals, building derivatives expertise and maintaining high standards of client service and delivery.
• Serve as a derivatives accounting expert for clients and internal stakeholders, providing clear guidance on complex derivative products, strategies, accounting treatments, and emerging accounting changes.
• Lead derivatives accounting controls and quality standards in partnership with the Investment Controllers Team, ensuring accurate reporting and alignment with internal, external accounting, and audit requirements.
• Support implementation of clients to new Aladdin Accounting platform, ensuring that journals and reporting is accurate for derivatives.
• Represent derivatives accounting on cross-functional initiatives and working groups, bringing client and accounting perspectives to key business objectives, product enhancements, and strategic priorities.
• Drive and prioritize enhancements across investment reporting, controls, procedures, and processes to increase efficiency, mitigate risk, and support evolving business, client and product changes.
• Build trusted client relationships by providing expert support on derivatives-related matters and translating complex accounting topics into practical solutions.

Knowledge/Experience/Requirements 

• The role would suit a qualified accountant (CPA, ACA, CIMA or ACCA); experience and knowledge of the insurance sector beneficial (not a requirement)
• 15+ years of financial/accounting work experience with invested assets
• 5+ years of supervisory experience, with demonstrated ability to lead, manage, coach, and develop teams.
• Strong understanding of investment accounting principles, controls, reporting, and relevant accounting frameworks, including Generally Accepted Accounting Principles (GAAP), statutory accounting, and International Financial Reporting Standards (IFRS).
• Derivatives expertise across options, including swaptions and collars; swaps, including credit default, variance, total return, interest rate, and inflation swaps; foreign exchange forwards; futures; cleared derivatives; and relevant hedging and income-generation strategies.
• Experience working with automated accounting and front/middle office applications.  BlackRock Aladdin knowledge beneficial (not a requirement).
• Strong client and stakeholder communication, judgment, attention to detail, and project-management skills, with the ability to make well-informed decisions and drive complex initiatives.

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.

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.

To learn more about BlackRock, please visit Careers.BlackRock.com. We also encourage you to get to know us on LinkedIn, Instagram, YouTube, X, and TikTok.

BlackRock is proud to be an Equal Opportunity Employer.  We evaluate qualified applicants without regard to age, disability, family status, gender identity, race, religion, sex, sexual orientation and other protected attributes at law.