Fund Accounting – Product Oversight & Governance – Associate


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Job Title: Fund Accounting – Product Oversight & Governance – Associate
Location: Edinburgh, Scotland
Hiring Company: BlackRock


About this role

Business Overview

Product Oversight and Governance support the fund level structural needs of Blackrock’s various fund ranges with a key emphasis on supporting product change and minimising risk.  The team support the BlackRock business groups who create our products, and the boards which oversee our funds.

The team has responsibility for all fund accounting matters across BlackRock’s UK fund ranges, along with oversight of third-party administrator pricing and control activity.   The team also assist internal partners with regards to launching new products, or changing existing ones, along with overseeing specific items such as portfolio currency hedging. 

The role is situated within the Global Accounting and Product Services (GAAPS) group which is part of the wider Technology and Operations (Tech & Ops) community.   Tech & Ops are responsible for development of the firms operating infrastructure which supports BlackRock’s investment business worldwide.

Team Overview

The team on behalf of the UK Board, BlackRock Fund Management Ltd, and BlackRock Life Company and each Charity and Investment Trust Company Board oversee the Firms 3rd party Mutual Fund Accounting providers. This comprises 5 UK Domiciled fund ranges, over 200 funds and represents in excess of USD +400 billion in AUM. These ranges consist of a wide variety of products which include the core Authorised Unit Trust (AUT) range, UK Charities (CAIFs), a growing tax transparent Authorised Contractual Scheme (ACS) range, unit-linked life funds under BlackRock Life Limited (BLL) and our range of Closed ended Investment Trust Companies (ITCs).

We primarily focus on Product Lifecycle Management – ensuring product are rigorously evaluated before implementation at 3rd party delegates.

Role Responsibilities

  • Own oversight of the external Fund Accountant for UK domiciled UCITS and AIFs funds

  • Help deliver firm-wide initiatives including fund launches and strategy changes at both conceptual and operational implementation stages

  • Provide Fund accounting SME technical input across all operational aspects

  • Contribute towards and make presentations to BlackRock governance bodies (e.g. fund boards) and committees

  • Review and challenge policies and procedures to help evolve the Fund Accounting Ops model to best practise

  • Assess the operating model for risk and efficiency, with a focus on automation and STP

  • Build good relationships with business areas within BlackRock, effectively engage and lead fund launches and product change

  • Contribute to ensuring compliance with all relevant BlackRock policies and with regulatory requirements impacting Products

  • Supervising outsourced functions, including performance of the service provider, due diligence visits, evaluate control environments, investigation of NAV related queries from internal and external sources.

  • Supporting the Financial Statement team in local audits and review of financial statements


  • At least 5 years UCITS, AIF fund accounting experience, including (but not limited to) :

    • Multiple Share Classes, ideally including hedging

    • Investor Anti-Dilution Mechanisms including dual pricing and single swing pricing

    • Income/capital split

    • Expense budgets, TER, UCITs Ongoing Charges, Performance fees

    • Tax transparent fund structures

    • UK GAAP, requirements of SORP for Authorised Funds

  • Provider Control environment, due diligence & NAV tolerance review

  • Fund / Product events such as fund and class launches, mergers, liquidations and in specie transition restructural programmes

  • Project Management for regulatory change and business change

  • Vendor management experience

  • Good understanding of the fund valuation and associated transaction lifecycle and key control frameworks.

  • Good prioritization skills and ability to handle differing requirements from multiple ‘clients’.

  • Good track record in implementing change management

  • Develop practical and pragmatic solutions through a ‘hands on’ approach.

  • Good verbal and written communication capabilities – ability to interact and clearly communicate / articulate with all levels, including portfolio managers, fund directors, external auditors, senior management and vendors.

  • Initiative, drive and enthusiasm; passion for performance

  • Excellent attention to detail

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.

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.

For additional information on BlackRock, please visit | Instagram: @blackrock | Twitter: @blackrock | LinkedIn:

BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer.  We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.

BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.

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