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BlackRock ICAAP Associate | BlackRock in Edinburgh, United Kingdom

ICAAP Associate | BlackRock

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ICAAP Associate

Edinburgh, GB

Finance & Internal Audit

About BlackRock

BlackRock’s business is investing on behalf of our clients, from large institutions to parents and grandparents, doctors and teachers who entrust their savings to us. We are committed to our clients—period. Our promise is to offer them the clearest thinking about what to do with their money and the products and services they need to secure a better financial future.

That’s why investors of all kinds have made us the world’s largest asset manager, entrusting us with trillions of dollars, and it’s why companies, institutions and global governments come to us for help meeting their biggest financial challenges.

Job description


About this role

Who are Prudential Policy?

The Prudential Policy Team, which sits within Finance in Edinburgh, plays a key role in ensuring that BlackRock is compliant with regulatory capital and reporting requirements across 20 countries / territories within EMEA. This includes engaging with regulatory bodies such as the Financial Conduct Authority (FCA), the Dutch regulator, De Nederlandsche Bank (DNB) and the European Banking Authority (EBA), and responding to consultation papers these bodies publish.

The team works closely with the Financial Reporting Group (FRG) to ensure that a large volume of regulatory returns are submitted accurately and on time in order to ensure that BlackRock is compliant at all times. The team is also responsible for the overall management of the Internal Capital Adequacy Assessment Processes (ICAAPs) for BlackRock Group Limited (BGL), BlackRock Netherlands B.V. (BNBV) and BlackRock Investment Management (Dublin) Limited (BIMD). The primary purpose of the ICAAPs is to inform the relevant Boards of their ongoing assessment of each entity’s ability to meet its liabilities as they fall due, how it intends to deal with risks, and the amount and nature of financial resources that the entity considers necessary to hold. Reports documenting the ICAAPs are submitted annually to the FCA, the DNB and the Central Bank of Ireland (CBI) respectively. The team also co-ordinates the BGL Pillar 3 Disclosure document.

Job purpose / Background

The Associate will be responsible for the day-to-day management of key regulatory deliverables such as the ICAAP for BGL, BNBV and BIMD and the Pillar 3 document. The ICAAPs are the largest piece of work the team leads on and are considered to be amongst the most important regulatory submissions that the entities make to their regulators. As such delivering them is a high-profile undertaking. The Prudential Policy Team coordinates on behalf of the Boards a year-round collaboration across a number of functions in Finance, Risk and Quantitative Analysis (RQA), and Compliance.

Key responsibilities

  • Manage the delivery of the ICAAPs and the Pillar 3 document.

  • Support the lead ICAAP Manager.

  • Secretary of the ICAAP Committee, arranging meetings, preparing papers, taking minutes and obtaining appropriate approvals.

  • Become a subject matter expert in relation to the capital requirements and regulatory reporting requirements in relation to key regulatory submissions like the ICAAP and the Pillar 3 Disclosure document.

  • Map these regulatory requirements and identify any potential gaps in existing processes.

  • Contribute to the stakeholder management of key relationships with senior management and the Boards, including the Non-Executive Directors (NEDs).

  • Prepare materials for the BGL Capital Committee.

  • Assist with coordinating regulatory visits including the provision of information requests in support of regulatory visits.

  • Engage with third party advisers and BlackRock’s Regulatory Engagement & Development team with a view to better understanding regulators’ expectations of these submissions.

  • Help with ensuring that key stakeholders are kept appraised of forthcoming changes to relevant legislation, such as the new Investment Firm Regime.

  • Contribute to other regulatory work.

  • Actively search for improvements within the role.

Development Value

This is a key role within the Finance function and an excellent opportunity for an individual to gain a thorough understanding of how BlackRock as a whole operates. In the process the individual will have the opportunity to gain a detailed insight into BGL’s financials as well as how it considers risk, liquidity and overall governance. The role will provide exposure to a number of stakeholders including Boards and senior management in Finance, RQA, and Compliance.

Experience and skill sets

  • Highly organized, ideally with project management experience.

  • Ability to manage multiple priorities successfully.

  • Exceptional attention to detail.

  • Excellent written and verbal skills.

  • Good presentation skills – able to present competently to senior stakeholders.

  • Strong stakeholder management skills.

  • Effective at documenting and tracking actions to completion.

  • Ability to work collaboratively across a variety of teams and stakeholders.

  • Possess a high degree of integrity and professionalism.

  • Ideally experience of regulatory reporting or interpreting complicated legislation.

  • Ideally educated to degree level or equivalent.

  • Professional qualification preferred (for example, accounting or legal qualification) or a background in compliance.

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, our clients turn to us for the solutions they need when planning for their most important goals. As of September 30, 2019, the firm managed approximately $6.96 trillion in assets on behalf of investors worldwide.

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BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer. We 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.

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Team background

Our teams deliver timely, accurate and insightful financial information and analysis. We also provide thought leadership across BlackRock’s rigorous control and risk management environment to enhance decision making, optimize resource allocation and help achieve business objectives.

BlackRock is proud to be an Equal Opportunity/Affirmative Action Employer. We are committed to equal employment opportunity to all applicants and existing employees and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEO is the Law poster here at and its supplement here at . The pay transparency policy is available here at .

BlackRock is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to and let us know the nature of your request and your contact information.