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Analyst, Cash and Asset Reconciliations

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BlackRock

3d ago

  • Job
    Full-time
    Junior & Mid Level
  • Accounting & Tax
    Banking & Finance
  • Mumbai

AI generated summary

  • You need 1-4 years in cash reconciliations, strong analytical skills, proficiency in SQL, VBA, Python, and Excel, attention to detail, and excellent communication abilities.
  • You will ensure accurate cash reconciliations, resolve discrepancies, manage exceptions, drive automation efforts, assess operational risks, and maintain effective stakeholder communication.

Requirements

  • 1-4 years of overall experience in cash reconciliations.
  • Understanding of financial instruments with an emphasis across asset classes is helpful.
  • End to end understanding of both Cash and Asset Lifecycle in order to investigate and understand the root cause of breaks in cash or assets.
  • Strong, effective analytical and problem-solving skills.
  • Excellent proficiency in data and automation tools such as SQL, VBA, Python, JAVA and others to automate basic manual processes via NITE jobs and Pollers and trouble shoot existing ones.
  • Knowledge of data Analytics tools like PowerBI to generate insights from Exceptions data & identify any automation opportunities or control gaps in process using data. Proficient in MS Excel.
  • Attention to detail to ensure a high degree of accuracy for all deliverables. Organized approach to ensure follow up on outstanding issues and identify appropriate action to be taken.
  • Excellent verbal, written and interpersonal skills including ability to clearly articulate results of financial analyses as wells as issues to senior management and external parties.
  • Ability to multi-task and balance requests without losing sight of overall objectives and deadlines. Exceptional decision-making skills and communicate effectively with senior management.
  • Ability to work in a team environment and build strong relationships with colleagues and external contacts. Work in a fast paced, rapid changing, deadline driven environment with minimal direct supervision.

Responsibilities

  • Ensure reconciliations are effectively completed and troubleshoot any discrepancies, ensure accuracy of published cash.
  • Review cash & income exceptions daily including researching differences, resolving them in an accurate and timely manner.
  • Tasks and their procedures to be accurately followed resulting in appropriate exception investigation and assignment (internal or external) including all follow-ups until the exceptions are resolved. Ensure appropriate escalation protocols are followed, and we are intensifying timely in alignment with increasing age / risk.
  • Establish stake-holder ownership - coordinating with up/down stream teams for Income & Cash exception mgmt. Leading the conversation, formulating plan of action and follow through on action points.
  • Document and provide feedback for custodian/Broker reviews. Push for better service and data and hold our providers accountable to deliver. Call out to Management for issues that need focus / remediation if meeting engagement do not meet standards. Instances of delayed reporting, lack of conformity to set standard, latency in response time, delaying exception resolution should be tracked by stake-holder owner and shared on timely intervals.
  • Demonstrate understanding of how daily activities impact KRI volumes and what criteria deem an exception to be high risk and controllable. Be able to articulate impact on the KRIs and quantify how to positively contribute to the numbers through both quantitative and qualitative analysis.
  • Consistent, concise MI to be provided to appropriate audience. Agenda points to be communicated prior to each call with metrics produced to show progress and takeaways aligned with the frequency of the stake-holder engagement.
  • Drive & Participate in various efficiency and capacity-building initiatives, including automation/ standardization efforts using SQL, VBA, Python. Review available data reports and look out for trends/activities currently performed manually that can be proposed for enhanced auto match/auto post/autocode rules, also should know methods that will help quantify the impact of proposed automation.
  • Identifying, leading and mitigating operational risks. Raising risk and service issues on a timely basis, ensure issues are called out to management have been properly researched and reviewed. This includes providing details around investigation/steps taken so far, demonstration of engagement with relevant stakeholders and suggesting potential paths to resolution.
  • Understand and adhere to all regulatory requirements impacting the reconciliation process.
  • Understand upstream processes impactful to the reconciliation and develop ability to correlate the effect of change.

FAQs

What are the main responsibilities of the Analyst, Cash and Asset Reconciliations role?

The main responsibilities include ensuring reconciliations are completed accurately, troubleshooting discrepancies, managing exceptions, coordinating with stakeholders, documenting and providing feedback for custodian and broker reviews, driving efficiency initiatives, and adhering to regulatory requirements.

What qualifications are required for this position?

Applicants should have 1-4 years of experience in cash reconciliations, a strong understanding of financial instruments, proficiency in data analytics and automation tools like SQL, VBA, and Python, and excellent analytical and communication skills.

What is the expected work environment for this role?

The role follows a hybrid work model where employees are required to work at least 4 days in the office per week and have the flexibility to work from home 1 day a week.

Is experience with financial instruments necessary for this job?

Yes, an understanding of financial instruments across various asset classes is helpful and an end-to-end understanding of both Cash and Asset Lifecycles is important.

What tools and technologies should candidates be familiar with?

Candidates should be familiar with data and automation tools such as SQL, VBA, Python, and JAVA, as well as data analytics tools like PowerBI, and should have proficiency in MS Excel.

How does this role contribute to managing risk and exposure for clients?

The role involves actively ensuring the investment book of record is reconciled with external providers daily, which helps mitigate risks and manage exposure by addressing discrepancies in cash and asset data.

Are there opportunities for professional development in this position?

Yes, BlackRock is dedicated to creating an environment where employees are supported with development opportunities to help them thrive.

How important is attention to detail in this role?

Attention to detail is crucial to ensure a high degree of accuracy for all deliverables and to effectively manage follow-ups on outstanding issues.

Will the analyst work as part of a team?

Yes, the analyst will work in a team environment, building strong relationships with colleagues and external contacts while collaborating on various tasks and initiatives.

What type of initiatives might the analyst drive or participate in?

The analyst may drive and participate in efficiency initiatives and capacity-building projects, including automation and standardization efforts to improve operational processes.

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BlackRock

Global investment manager. Technology provider. Helping more and more people experience financial well-being.

Finance
Industry
10,001+
Employees
1988
Founded Year

Mission & Purpose

BlackRock is a global asset manager and technology provider. Our purpose is to help more and more people experience financial well-being. We help millions of people invest to build savings that serve them throughout their lives. We make investing easier and more affordable. We advance sustainable investing because our conviction is it delivers better outcomes for investors. We contribute to a more resilient economy that benefits more people. Together with our clients, we’re contributing to a more equitable and resilient world – today and for generations to come. That’s why, we’re asking bigger questions – of ourselves, our industry, and the world at large. Questions that challenge convention and give rise to new thinking. Because the bigger questions we ask, the bigger actions we can take. Follow us for global insights shaping the economy, innovative thinking around the path to net zero and more information on culture and careers at BlackRock.

Benefits

  • Financial Well-being

    We help more and more people experience financial well-being – which applies as much to you as it does to our clients. At BlackRock, you’ll have access to our competitive retirement plan as well as financial coaching and educational resources to help you build a sound financial future.

  • Healthcare

    We provide a great selection of benefits and programs to help you manage health care costs, live a healthy lifestyle and find the right care, whenever you need it.

  • Physical well-being

    We know that physical well-being is an important component of maintaining your overall health – both now and in the future. Our comprehensive physical well-being benefits help you stay active, eat better and feel energized.

  • Life management

    We know managing life, work and everything in between can be difficult. So, whether you need a little R&R or time to tend to other matters, Flexible Time Off allows you to take time away from work, stress free, to focus on moments that are important to you.

  • Emotional well-being

    We understand emotional resilience is key to helping you thrive – in your life and at work. Whether you’re looking for ways to handle life’s many challenges, reduce your stress or boost your happiness by volunteering your time in service to others, our resources can help you navigate all kinds of situations.

  • Professional well-being

    Focus on your strengths and build the​ expertise you need to further your career. Our BlackRock Academies, structured training by​ program and employee networks, provide resources for​ meaningful networking, skill building and professional as​ well as personal growth.

  • Pay for Performance

    Our pay for performance approach means your total compensation reflects individual, business and company performance. For our full-time employees, total compensation includes a base salary plus an annual discretionary bonus.