Vice President, Private Credit Middle Office, PFS - Delaware

HPS Investment Partners, a part of BlackRock, is a leading global, credit-focused alternative investment manager that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for clients. The firm manages various strategies across the capital structure, including privately negotiated senior debt, junior capital solutions, liquid credit, asset-based finance, and real estate. The scale and breadth of the platform offers flexibility to invest in companies of all sizes through standard or customized solutions.

On July 1, 2025, BlackRock acquired HPS, forming a new private financing solutions business unit (PFS) led by Scott Kapnick, Scot French, and Michael Patterson. This combined platform offers broad capabilities across senior and junior credit solutions, asset-based finance, real estate, CLOs, and GP-LP solutions, with approximately $370 billion in client assets, including $205 billion of private credit assets, and over 590 investment professionals globally.

About the role

The Middle Office team (MO) within Private Financing Solutions (PFS) – BlackRock’s private credit platform – ensures the accuracy of fund positions and cash balances. The team manages the lifecycle of all trades and investments, including trade capture, settlement, loan administration, reconciliations, corporate actions, audit requests, new mandate onboarding, and PnL break analysis. The Vice President will support these functions in a fast-paced, rapidly scaling environment.

Responsibilities

• Oversee and resolve cash breaks vs. custodians.
• Research and resolve position breaks vs. custodians, clients, administrators, and other systems.
• Perform cash and asset reconciliations between internal systems (e.g., Aladdin) and custodians.
• Oversee daily loan administration in the firm’s accounting system, including tracking contracts, principal/interest payments, and drawdowns.
• Play a key role in daily reconciliation between HPS and BlackRock’s accounting systems.
• Investigate and resolve transactional or accrual discrepancies.
• Provide full trade lifecycle operational support for products including Bonds (Fixed & Floating Rate), ABS, Cross-Currency Swaps, Term Loans, Delayed Draw Term Loans, and Revolvers.
• Oversee settlement of secondary loan trades and direct lending.
• Work closely with custodians daily, fielding questions on cash application and providing amortization schedules for factored securities.
• Assist with confirming positions and providing support for internal and SMA auditors.
• Troubleshoot booking and position discrepancies with internal and external groups (Front Office, Fund Accounting, Fund Administrators, SMA Clients, Auditors).
• Manage the restructure/amendment process from start to finish, coordinating with Valuation, Tax, and Accounting teams.
• Collaborate with technology teams on automation and workflow enhancements; execute User Acceptance Testing (UAT).
• Liaise with internal groups (Accounting, Product Control, Valuations, Investment Data) to resolve open queries.
• Engage in cross-functional initiatives and group-level projects.
• Manage transactional data for alternative products by sourcing from legal documents and third-party notices.
• Act as a Point of Contact for external investment managers regarding the lifecycle of deals.
• Contribute to the design and implementation of onboarding processes for new investments.
• Assist and manage relationships with multiple managed service providers.
• Perform detailed investment return reconciliation versus fund administrators.
• Ensure relevant controls are in place and adhered to by the team.
• Provide oversight on daily and ad-hoc processes, assisting with escalations and complex scenarios.
• Maintain and update process documentation and control frameworks.
• Provide daily, weekly, and monthly reporting metrics to senior leadership.
• Coach and mentor junior staff on industry standards and best practices.

Requirements

• Bachelor’s degree in Finance or a related field.
• 8-12 years of experience in the financial services industry, with private credit experience preferred.
• Strong understanding of private credit, cash, and position reconciliation/oversight.
• Proficiency in Excel and Outlook.
• Knowledge of operations and accounting-related systems; experience with a Security Master preferred.
• Deep understanding of alternative investment products (hedge funds, structured products, SMAs).
• Experience using trade/accounting/security master systems such as Aladdin, Digitize, FIS VPM, IVP Products, ClearPar, and/or Clearwater.

Pay

For Wilmington, DE, the salary range for this position is USD $125,000.00 - USD $150,000.00. Employees are also eligible for an annual discretionary bonus and benefits including healthcare, leave benefits, and retirement benefits. Total compensation may vary based on role, location, and individual performance.

Benefits

• Strong retirement plan.
• Tuition reimbursement.
• Comprehensive healthcare.
• Support for working parents.
• Flexible Time Off (FTO) to relax and recharge.

Schedule

BlackRock’s hybrid work model requires employees to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office based on their roles and responsibilities.