Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1.1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X, and Instagram.

Blackstone Credit & Insurance

Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including direct lending, opportunistic, CLOs, high yield, infrastructure and asset-based credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

Job Title: BXCI – BXCI FX & FI Derivatives Hedging Risk Manager within Investment Operations – Vice President

Job Location: - London

Reports to: - Global Head of BXCI FX and FI Derivatives Hedging (located in NJ/NY)

Responsibilities:

• Conduct weekly and monthly fx exposure reviews of 40+ BXCI Funds and take market action to mitigate exposure breaches to defined parameters. Work closely with portfolio managers, treasury, capital formations and product control to make sure risk policy, positions and p&l are always understood.
• Reviews and actions include trade structuring, trade review, trade execution, trade entry, trade reconciliation, cash settlement verification, P&L calculation, margin calculation.
• Build and maintain ‘roll’ and ‘payment’ schedules for 40+BXCI Funds derivative products including FX forwards, interest rate swaps, and interest rate futures contracts.
• Execute FX spot and forward transactions as requested by treasury, finance, and portfolio teams to support daily operational functions of the funds.
• Daily, work closely with treasury, global accounting, portfolio managers, product control, and reconciliation and compliance teams to ensure clear communication, accuracy and efficient process flows.
• Work with internal and external counsel to track and maintain ISDA documentation which supports trading and margining activity. This includes pre-fund launch negotiations and post-fund launch delivery of NAV information and Alternative Termination Event monitoring.
• Calculate and explain P&L for derivative products including fx forwards, interest rate swaps, interest rate futures by using internal systems, Bloomberg, and applying risk metrics such as delta, gamma, vega and theta to quantify explanations.
• Support Global Head in interest rate swap structuring, pricing, post trade support and margining capacities.
• Work as part of the team to establish a ‘follow the sun’ coverage model as build this team for global coverage.
• Identify process gaps, perform root cause analysis, design and execute upon creative solutions to support processes streamlining with focus on promoting efficiency and enhancing our risk controls.
• Understand accounting knowledge like PNL, realized and unrealized, FX PNL, accrued interest on various assets being processed by the team.
• Oversee as needed the day-to-day activities of the global team to ensure tasks are fully complete, timely and accurate. Review and action incorrect PNL changes.
• Act as a first point of escalation and liaise with both internal and external parties (e.g. , Portfolio Managers, Finance, Administrators, Trustees, Fund Captains etc.) to communicated hedging policy, ensure timely response of any queries and resolution of an issues. Utilize effective communication to provide clear direction as needed.
• Be responsible for routine operational tasks focused on administering defined procedures, analyses and report preparation, and resolving problems that require investigation or research.
• Provide ongoing training and support for new team members as needed.
• Appropriately demonstrate consideration for Blackstone’s reputation, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

Requirements:

• Bachelor’s/University degree or equivalent experience.
• Strong technical knowledge in various credit financial instruments including but not limited to fx, fx derivatives, interest rate swaps, loans, revolvers, bonds and repos with 7+ years of experience in bank debt operations.
• Knowledge of calculation volatility and applying volatility to estimate likelihood of potential p&l moves and margin requirements preferred.
• Interest in following and learning how macro markets interplay with global credit markets. This includes themes like ‘interest rate parity’ and calculating ‘implied forward rates’.
• Previous experience with Advent Geneva is preferred.
• Strong problem solving and analytical skills with an ability to effectively analyze problems.
• Strong leadership skills with proven record of effective execution and driving accountability.
• Excellent team player, who can collaborate effectively across all levels of the firm.
• Strong risk and control mindset, including ability to escalate effectively.
• Strong verbal and written communication skills as the role requires engagement multiple stakeholders, both internal and external.
• Strong Proficiency in MS Office (Excel, Word & PowerPoint). Excel proficiency in functions “SUMIF” and “VLOOKUP” a must.

The duties and responsibilities described here are not exhaustive and additional assignments, duties, or responsibilities may be required of this position. Assignments, duties, and responsibilities may be changed at any time, with or without notice, by Blackstone in its sole discretion.

Blackstone is committed to providing equal employment opportunities to all employees and applicants for employment without regard to race, color, creed, religion, sex, pregnancy, national origin, ancestry, citizenship status, age, marital or partnership status, sexual orientation, gender identity or expression, disability, genetic predisposition, veteran or military status, status as a victim of domestic violence, a sex offense or stalking, or any other class or status in accordance with applicable federal, state and local laws. This policy applies to all terms and conditions of employment, including but not limited to hiring, placement, promotion, termination, transfer, leave of absence, compensation, and training. All Blackstone employees, including but not limited to recruiting personnel and hiring managers, are required to abide by this policy.

If you need a reasonable accommodation to complete your application, please contact Human Resources at 212-583-5000 (US), +44 (0)20 7451 4000 (EMEA) or +852 3656 8600 (APAC).

Depending on the position, you may be required to obtain certain securities licenses if you are in a client facing role and/or if you are engaged in the following:

• Attending client meetings where you are discussing Blackstone products and/or and client questions;

• Marketing Blackstone funds to new or existing clients;

• Supervising or training securities licensed employees;

• Structuring or creating Blackstone funds/products; and

• Advising on marketing plans prepared by a sales team or developing and/or contributing information for marketing materials.

Note: The above list is not the exhaustive list of activities requiring securities licenses and there may be roles that require review on a case-by-case basis. Please speak with your Blackstone Recruiting contact with any questions.

To submit your application please complete the form below. Fields marked with a red asterisk * must be completed to be considered for employment (although some can be answered "prefer not to say"). Failure to provide this information may compromise the follow-up of your application. When you have finished click Submit at the bottom of this form.