Vice President, Private Credit Middle Office, PFS - New York

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 platform offers flexibility to invest in companies of all sizes through standard or customized solutions, driven by intellectual rigor and discipline.

In July 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 manages approximately $370 billion in client assets, including $205 billion in private credit, with over 590 investment professionals and 1,300 employees globally. The integration brings together BlackRock’s corporate and asset owner relationships with HPS’s diversified origination and capital flexibility.

About the role

The Middle Office team (MO) within Private Financing Solutions (PFS) ensures the accuracy of fund positions and cash balances while managing the lifecycle of all trades and investments. Responsibilities include trade capture, settlement, loan administration, reconciliations, corporate actions, audit requests, mandate onboarding, and PnL break analysis. The team collaborates closely with Deal Execution, Treasury, Fund Accounting, Fund Finance, Cash Management, Portfolio Analytics, Data Analytics, Valuations, and Deal Teams.

PFS is seeking a Vice President to join the Middle Office Operations team. The ideal candidate is highly organized, detail-oriented, and possesses strong written and verbal communication skills. They should thrive in a fast-paced environment, meet strict deadlines, and excel both independently and as part of a team. Critical thinking and problem-solving skills are essential as the platform scales rapidly.

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.
• Provide daily oversight of 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 building/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), including scenario testing and error resolution.
• Liaise with multiple 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, and inputting into internal systems.
• 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, including trade lifecycle, cash management, valuation, P&L recognition, and reconciliation.
• Assist and manage relationships with multiple managed service providers.
• Perform detailed investment return reconciliation versus full fund administrators.
• Ensure relevant controls are in place and adhered to by team members to operate in a risk-controlled environment.
• Provide oversight on daily and ad-hoc processes, assisting with issues, 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 New York, NY, the salary range for this position is USD $125,000.00 – USD $165,000.00. Employees are also eligible for an annual discretionary bonus and benefits, including healthcare, leave benefits, and retirement benefits. 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 in-office time based on roles and responsibilities. New joiners can expect this model to accelerate learning and onboarding.