Derivatives Analyst

Job Title: Derivatives Analyst III - Derivatives Onboarding, Aladdin Business Analyst

Location Address: Boston, MA

Hybrid: Tuesday/ Wednesday/ Thursday in office

Hours: 9am-5pm Monday-Friday

Story Behind the Need

Business group: Global Derivatives Services. The Global Derivative Services team is responsible for managing nearly $300 billion notional (CAD) of derivative products across the globe for the Life Insurance general account and clients Investment Management with offices in Boston, Toronto, Montreal, Hong Kong and Manila. Global Derivative Services includes teams that cover functions such as Back Office Operations, Collateral Management, Middle Office, Onboarding and Business Solutions.

The Derivatives Onboarding team supports the clients Investment Management and Life Insurance businesses globally by performing all setup steps necessary for the use of derivatives in a portfolio. The team supports the portfolio managers use of exchange-traded, over-the-counter, and centrally-cleared derivative instruments, as well as TBAs and Repos.

Project: Project to implement Blackrock's investment management system, Aladdin, for clients Investment Management. The Blackrock Aladdin project will take approximately 16-18 months to implement which aligns with the duration of this role.

Typical Day in Role

The Derivatives Onboarding Business Analyst will report to the Manager of Derivatives Onboarding within the Global Derivatives Services team. The Derivatives Onboarding Business Analyst will represent the Derivatives Onboarding team on the project to implement Blackrock’s order management system. Aladdin, for clinets Investment Management.

The candidate must be pro-active, assertive, detail-oriented, organized and highly professional. The candidate will have a combination of derivatives industry experience, onboarding experience, relationship management skills, and practical business insight.

Primary Responsibilities:

Act as the main point of contact on behalf of the Asia and North America Derivatives Onboarding teams on the project to implement Blackrock’s order management system, Aladdin. Keep these teams informed on the progress of the project. Seek guidance from these teams as needed to ensure new processes are consistent and agreed globally.

Quickly become familiar with the current derivatives onboarding processes to understand how the implementation of Aladdin impacts these processes.

Engage with the traders and portfolio managers to understand how the derivatives trade process will work differently on Aladdin and how that impacts the derivatives onboarding and broker restriction process.

Engage with derivatives brokers as needed to analyze the impacts of the Aladdin implementation on derivatives trading.

Attend project meetings and identify the impacts to the current derivatives onboarding process.

Lead the testing of new functionality in Aladdin that will be used by the derivatives onboarding team.

Engage the Asia and North America Derivatives Onboarding teams to review and agree new processes in Aladdin and thoroughly document these new processes. Ensure that all new risks have been identified and a robust control process is implemented to mitigate these risks.

During project downtime, assist the Derivatives Onboarding team as follows.

Coordinate the onboarding functions for new accounts to use derivatives and for existing accounts to add additional brokers.

Support Traders need for best execution by setting up the full range of desired derivatives brokers.

Coordinate derivatives trading operational readiness within the Global Derivatives Services team including middle office, operations and collateral management.

Maintain an accurate and complete matrix of accounts, authorized derivative products, derivatives legal agreements and active brokers.

Contribute to the successful management of external broker relationships.

Take ownership of side projects to clean up records and validate broker setups.

Candidate Requirements/Must Have Skills:

Minimum 7 years of relevant industry experience with at least 5 years of hands-on experience in derivative products. Familiarity with Aladdin is an advantage.

Familiarity with derivative instruments including Repos, TBAs, Futures, Listed and OTC options, FX, Swaptions, TRS, IRS, CDS, other OTC and Centrally-Cleared Swaps

Familiarity with derivatives trading and collateral agreements such as Clearing Agreements, Give-Ups, ISDA/CSAs, GMRAs and MSFTAs.

Familiarity with MS Office suite.

Familiarity with various fund structures: mutual funds, pooled funds, private funds, UCITS, institutional accounts and life insurance general account.

Soft Skills

Solid organizational skills**, attention to detail** and a high degree of professionalism combined with the ability to readily adapt to rapidly changing environments and deal with competing priorities.

Team player with demonstrated experience building and maintaining good working relationships both internally and externally.

Excellent analytical skills and the ability to think through problems, assess a variety of factors and recommend solutions.

Nice-To-Have Skills:

Familiarity with Aladdin, Blackrock’s investment management system.

Asset Management and Insurance Company industry experience an asset.

Education:

Relevant undergraduate education or advanced degree - Business Administration, Finance, Economics, etc. required