FX & FI Derivatives Hedging Risk Manager – Vice President

Overview

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.

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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)

• 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…