Associate, Portfolio Management - Transition, BlackRock Global Markets (BGM)
BlackRock Services, San Francisco, CA, United States
Transition Portfolio Manager
BlackRock is a world-class provider of global investment management, risk management, and advisory services to institutional, intermediary, and individual investors. BlackRock offers a range of solutions from meticulous fundamental and quantitative active management approaches aimed at increasing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world's capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares ETFs. BlackRock's Transition Management team helps institutional clients restructure their investment portfolios, acting as a bridge between their existing and desired allocations. A transition can be anything from a manager change to a full-scale plan merger. We deliver a modern approach to project management, portfolio risk management, and trade execution to help clients reduce costs and minimize risk during periods of significant portfolio turnover. We deliver the best of BlackRock's expertise in risk management, trading, and technology directly to clients. Our team runs more than 200 transitions a year from offices in London, New York, San Francisco, Tokyo, and Hong Kong with a focus on large multi-asset portfolio restructures. We have over 50 transition professionals globally and offer one of the industry's most comprehensive transition management platforms. Our clients include central banks, sovereign wealth funds, public pension plans, corporate retirement plans, and other institutional investors. Role and Responsibilities
We are looking for a portfolio manager to join our US transition management team. The Transition Portfolio Manager is one of two functions that co-own successful implementation of a client transition. Specifically, they are responsible for the investment risk inherent in each transition. From crafting the trade strategy, directly managing each portfolio's exposures and positions, and serving as the client's go-to resource for understanding current market liquidity conditions, active portfolio exposures, and how these factors tie into the transition outcome. You will partner closely with BlackRock's equity, fixed income, and FX traders across all regions and develop expertise in these markets. We provide full service for clients, from account set up to trade execution and performance attribution. As such, this is an outstanding opportunity to gain exposure to every stage of the asset management business. Specifically, you will: Manage portfolio construction and positioning during live transition assignments. Preparing orders and sending them to our Global Trading team, partnering with them to oversee execution and exposure management. This includes equities, fixed income, currency, and futures/forwards. Develop efficient trading and hedging strategies, with detailed execution plans. Prepare and present pre-trade analysis reports that clearly explain the proposed strategy and detail the expected transaction costs and risk. Engage with clients throughout the course of a transition to communicate market conditions, transition progress, and portfolio performance. Stay abreast of and research the applicability of new sophisticated trading mechanisms, strategies, risk tools, and liquidity sources to help evolve our product. About You
Ideally to be successful in this role, you have: 2-5 years of experience in the Financial Services industry, ideally with exposure to portfolio management, transition management, or trading across fixed income and/or equity markets. Demonstrated understanding of portfolio construction and the quantitative concepts of risk and exposure, and their application to portfolio management through optimization, beta and FX hedging, and risk and performance attribution. Deep knowledge of transaction cost and portfolio risk analytics. Excellent interpersonal skills and ability to work in a fast-paced, team environment where there is a premium on collegiality. Meticulous attention to detail with an ability to remain focused across a wide range of portfolio types and activities. Strong process awareness and ability to address operational risk issues. Interest in crafting and delivering solutions directly to institutional investors. Experience leveraging generative AI preferred, including prompt engineering, to advance scalable analytics and streamline processes. Familiarity with Python and SQL for automation, reporting support, and internal tool development is strongly preferred. For San Francisco, CA only, the salary range for this position is USD$116,000.00 - USD$155,000.00. Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.
BlackRock is a world-class provider of global investment management, risk management, and advisory services to institutional, intermediary, and individual investors. BlackRock offers a range of solutions from meticulous fundamental and quantitative active management approaches aimed at increasing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world's capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares ETFs. BlackRock's Transition Management team helps institutional clients restructure their investment portfolios, acting as a bridge between their existing and desired allocations. A transition can be anything from a manager change to a full-scale plan merger. We deliver a modern approach to project management, portfolio risk management, and trade execution to help clients reduce costs and minimize risk during periods of significant portfolio turnover. We deliver the best of BlackRock's expertise in risk management, trading, and technology directly to clients. Our team runs more than 200 transitions a year from offices in London, New York, San Francisco, Tokyo, and Hong Kong with a focus on large multi-asset portfolio restructures. We have over 50 transition professionals globally and offer one of the industry's most comprehensive transition management platforms. Our clients include central banks, sovereign wealth funds, public pension plans, corporate retirement plans, and other institutional investors. Role and Responsibilities
We are looking for a portfolio manager to join our US transition management team. The Transition Portfolio Manager is one of two functions that co-own successful implementation of a client transition. Specifically, they are responsible for the investment risk inherent in each transition. From crafting the trade strategy, directly managing each portfolio's exposures and positions, and serving as the client's go-to resource for understanding current market liquidity conditions, active portfolio exposures, and how these factors tie into the transition outcome. You will partner closely with BlackRock's equity, fixed income, and FX traders across all regions and develop expertise in these markets. We provide full service for clients, from account set up to trade execution and performance attribution. As such, this is an outstanding opportunity to gain exposure to every stage of the asset management business. Specifically, you will: Manage portfolio construction and positioning during live transition assignments. Preparing orders and sending them to our Global Trading team, partnering with them to oversee execution and exposure management. This includes equities, fixed income, currency, and futures/forwards. Develop efficient trading and hedging strategies, with detailed execution plans. Prepare and present pre-trade analysis reports that clearly explain the proposed strategy and detail the expected transaction costs and risk. Engage with clients throughout the course of a transition to communicate market conditions, transition progress, and portfolio performance. Stay abreast of and research the applicability of new sophisticated trading mechanisms, strategies, risk tools, and liquidity sources to help evolve our product. About You
Ideally to be successful in this role, you have: 2-5 years of experience in the Financial Services industry, ideally with exposure to portfolio management, transition management, or trading across fixed income and/or equity markets. Demonstrated understanding of portfolio construction and the quantitative concepts of risk and exposure, and their application to portfolio management through optimization, beta and FX hedging, and risk and performance attribution. Deep knowledge of transaction cost and portfolio risk analytics. Excellent interpersonal skills and ability to work in a fast-paced, team environment where there is a premium on collegiality. Meticulous attention to detail with an ability to remain focused across a wide range of portfolio types and activities. Strong process awareness and ability to address operational risk issues. Interest in crafting and delivering solutions directly to institutional investors. Experience leveraging generative AI preferred, including prompt engineering, to advance scalable analytics and streamline processes. Familiarity with Python and SQL for automation, reporting support, and internal tool development is strongly preferred. For San Francisco, CA only, the salary range for this position is USD$116,000.00 - USD$155,000.00. Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.