FX & FI Derivatives Hedging Risk Manager – Vice President

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.

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.

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 ensure 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.
• 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.
• 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 to communicate hedging policy, ensure timely response of any queries and resolution of issues.
• Provide ongoing training and support for new team members as needed.
• 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.

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.
• 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 with 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.