BAAM - Operational Risk, Vice President

  • The Blackstone Group
  • New York City, NY, USA
  • 21 Feb, 2018
Experienced Hires Asset Management Risk Management

Job Description

Firm Overview

Blackstone is one of the world’s leading investment firms. 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 asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at Follow Blackstone on Twitter @Blackstone.

Business Unit

Blackstone Alternative Asset Management (BAAM®)

Business Unit Description

Blackstone Alternative Asset Management (BAAM®), Blackstone’s Hedge Fund Solutions platform, is the world’s largest discretionary investor in hedge funds, with approximately $74 billion in assets under management. BAAM manages a diversified set of businesses including a customized solutions business, a special situations platform, a long-only solutions business, a hedge fund seeding business, an open-ended mutual fund platform and a business that purchases stakes in established hedge funds. In all of BAAM’s business lines, it carefully selects and partners with fund managers across a variety of asset classes and strategies to create solutions for its investors. Through its sharp focus on clients’ goals, a rigorous due-diligence process and access to Blackstone’s global insights, BAAM strives to generate attractive risk-adjusted returns across market cycles while preserving capital during stressed market environments.

Job Title

Vice President

Job Description

The Operational Risk Management Group is responsible for ensuring that proper controls are in place and operating effectively to mitigate risks for BAAM’s 300+ entities. The group performs quality reviews for high risk areas working in coordination with the other operational teams to aide in the control process. Additional responsibilities include management of the internal Service Level Program, lead due diligence for key external service providers and management for Directors board meetings. This person will play a significant role in operational transformation across BAAM, including technology solutions and re-envisioning processes for the future. Communication skills, objectivity, creativity in presentations and a strong understanding of risks and controls are key pillars to success in this role.


    • Oversight and management of quality reviews
    • Management of the operational risk and control matrix
    • Project management and support for initiatives to automate, outsource and create process change
    • Management of Service Level Agreement program
    • Service provider oversight including SOC1 reviews, onsite visit coordination, and scorecards
    • Board of Directors Meeting coordination
    • Liquidating fund coordination
    • Training, managing and mentoring junior team members
    • Active communication with various internal teams including accounting, compliance, middle office, treasury, financial reporting, management reporting and regulatory reporting teams


Candidates should have 10 to 12 years of industry experience. Candidates should exhibit strong technical, analytical and leadership skills as well as exceptional communication skills. Candidates should be energetic, self-motivated, team-oriented individuals with fresh ideas and innovative solutions who thrive on challenge in a fast-paced, dynamic environment. The comparatively small size of this group offers an opportunity to liaise with various teams across the BAAM platform.

    • Strong leader with solid business judgment
    • Strong technical and analytical skills
    • Strong verbal and written communication skills
    • Strong presentation skills
    • Strong knowledge of best practices in operational risk management
    • Ability to partner across teams, summarize issues, develop recommendations, and make decisions
    • Ability to be proactive and take initiative
    • Self-motivated and a self-starter
    • Energetic and enthusiastic
    • Highly proficient in Excel, Power Point and Visio
    • Hedge fund experience preferred but not required
    • Consulting experience preferred but not required
    • MBA, C.P.A. or C.F.A. preferred but not required

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, disability, sexual orientation, national origin or any other category protected by law.