Head of Risk

BlackRock
21-12-2021    2021-01368   

BlackRock overview
BlackRock is one of the world’s preeminent asset management firms and an outstanding provider of global investment management, risk management and advisory services. 

For BlackRock Netherlands (https://www.blackrock.com/nl) we are hiring an Head of Risk Management, member of the BlackRock Nederland BV board. 

Job Purpose/Background
BNBV is BlackRock’s Dutch entity regulated by both the Dutch Authority for the Financial Markets (AFM) and by the Dutch National Bank (DNB) in a twin peaks supervisory model.  
Relevant regulations applied to Dutch asset management firms require BNBV to establish a permanent risk management function to oversee the procedures put in place by BNBV to ensure that all applicable risks pertaining to BNBV are monitored and managed at all times. The BNBV Risk Manager will be appointed Chief Risk Officer (CRO) of BNBV. The CRO will be based in The Netherlands and will be a part of BlackRock’s Global Risk and Quantitative Analysis group, which comprises approx. 270 risk professionals globally. Working with(in) a small local team of RQA staff, the combined role has full oversight responsibility for all aspects of risk management related to the activities of the BNBV and leverages the broader RQA resources in this regard. 

RQA in The Netherlands is functionally and hierarchically separate from the BNBV operating units, is responsible for the day-to-day oversight and implementation of the Risk Management framework and is supported by the wider BlackRock RQA team. The role will report directly to the Global Head of Regulatory Risk of BlackRock. 

Business Unit Overview

  • Risk & Quantitative Analysis (RQA) performs the risk management activities and quantitative analysis functions at BlackRock.
  • RQA’s mission is to help BlackRock manage its Fiduciary and Enterprise risks and provide independent risk oversight. In the course of executing this mission, RQA provides quantitative analysis to many of BlackRock’s businesses and helps promote the spread of best practices across the firm.
  • The function has an Enterprise-wide risk focus and facilitates the pro-active identification, assessment, management and quantification of Enterprise risks embedded in all BlackRock’s products, services and activities. It is responsible for risk oversight of designated licensed BlackRock legal entities.
  • The function includes the appointment as Chief Risk Officer (CRO) of the board of BlackRock (Netherlands) B.V. (“BNBV”), the Dutch regulated asset manager that functions as contracting hub for all MiFID regulated activities offered by Blackrock in the European Economic Area. Such appointment is dependent on Regulator approval.

Key Responsibilities
As the Head of RQA Netherlands the CRO has responsibility for day-to-day oversight, monitoring and control of Risk Management.  

The responsibilities of the risk management function include, but are not limited to, the following:

  • Maintaining and enhancing an effective risk management framework within BNBV to ensure compliance with regulatory requirements as set out in the relevant applicable regulations. This includes coverage of all aspects of investment risk, liquidity risk, counterparty risk, corporate risk and operational risk.
  • Maintaining and enhancing risk management policies and procedures, together with adequate risk management systems, in order to identify, measure, manage and monitor risks appropriately, on an on-going basis, 
  • To advise the management board and senior stakeholders within larger BlackRock on the risk impact of new business initiatives.
  • Review of all risk management systems, for adequacy, effectiveness and compliance, at least annually, and the adaptation of same whenever necessary.
  • Provision of regular risk reporting to the BNBV Risk Committee and the BNBV Board on the effectiveness of the risk management systems and on risk exceptions and any actions required to address risk issues. 
  • As a member of the global RQA function, participation in global or regional risk initiatives, as required.

As a member of the BNBV Board, the CRO jointly with the Board, will be responsible for:

  • Day-to-day management, whereby the Board will focus on acting in the best interest of its clients and will take into account the interest of all stakeholders.
  • General oversight of delegated activities, whereby the CRO together with other control functions should play a lead role in identifying the relevant risks for BNBV, prepare a risk management policy and ensure procedures are in place and efficient control measures are taken to mitigate such risks.
  • Compliance with rules and regulations, in the execution of its responsibilities, to ensure there will be no material breach with applicable rules and regulations. Controlling and management of operations, since main elements of the daily operations of BNBV are outsourced to third parties, such as BlackRock Investment Management UK Limited, it is crucial that the Board effectively controls and monitors the outsourced operations

Qualifications

  • Master’s degree in Mathematics / Economics / Finance desired
  • Minimum of 5 years’ experience in a senior risk position with responsibility for firm wide risk in a financial services organization, preferably an asset management company. 
  • Experience designing and leading risk related or other governance committees and presenting to senior management and Boards in a regulated setting. 
  • Ability to take the responsibility for setting up strategic views on directing risk management 
  • Experience with risk models
  • Knowledge of key tools applicable in risk management, i.e. Enterprise Risk Management framework, Operating Event Management process, Key Risk Indicators, Risk and Control Self Assessments, Scenario Analysis 
  • Experience and knowledge of local investment management firm regulations – a broader knowledge of the regulatory requirements across EMEA level would be beneficial
  • Excellent communication and presentation skills and an ability to work with all levels of the organization
  • Proven leadership skills and ability to multi-task and work in a fast-paced environment
  • Excellent analytical skills, including in-depth experience working with quantitative models, with the ability to identify problems and develop solutions. 
  • Independent thinker and autonomous actor
  • Proactive, people-oriented team player with good listening and networking skills, an enthusiastic, upbeat communication style and a passion for success
  • Fluency in spoken and written English and Dutch strongly preferred

About BlackRock
BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.

BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer. They evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.

The procedure
BlackRock is guided in this recruitment procedure by Ingrid Reichmann and Josephine van der Vossen from Partners at Work. They will conduct the first interviews with potential candidates. A pre-employment screening and/or assessment can be part of the selection procedure. You can upload your CV and motivation via the button SOLLICITEER.

Please contact Ingrid Reichmann or Josephine van der Vossen for more information; 035 – 548 0760.

Solliciteer