Associate, Investment Product Strategy - Transition Management (London or Budapest)

About this role London or Budapest Business Unit Overview

BlackRock's Transition Management (TRIM) team manages more than 300 transitions a year from hubs in London, Budapest, New York, San Francisco, Tokyo, Singapore, and Hong Kong across equity, fixed income, and multiasset transitions. The transition service encompasses detailed analytics, portfolio and risk management, and execution implementation to achieve bespoke client outcomes.

Our clients include many of the largest asset owners globally, including central banks, sovereign wealth funds, public and corporate pension plans, and other institutional investors. The group offers one of the industry's most comprehensive and established transition management platforms.

Role Overview

Transition Management is a hightrust activity where clients and internal platforms entrust BlackRock with the reorganisation of significant portfolios. The Transition Manager is accountable for planning, structuring, and delivering portfolio transitions and restructurings end to end, with a strong focus on cost efficiency, risk control, and execution quality.

The role plays a central part in shaping and coordinating transition activity, working closely with clients, client strategists, transition portfolio managers, and internal operations teams.

Key Responsibilities

• Scope, structure, and manage portfolio transitions and restructurings end to end, including designing and owning detailed transition and execution plans covering sequencing, governance, and control considerations
• Coordinate and communicate effectively with internal and external stakeholders across investment, trading, operations, and clients, including escalation of issues and framing of decisions where required
• Identify, assess, and mitigate market, execution, operational, and process risks throughout the transition lifecycle
• Develop a deep understanding of portfolio exposures, execution approaches, operational dependencies, and risk tradeoffs
• Design, implement, and monitor detailed operating and execution models appropriate to the complexity of each transition
• Support Internal Transition Management (iTRIM) activity, including internal and inspecies restructurings, with a strong focus on governance, coordination, and execution oversight
• Partner with Transition Portfolio Managers to align transition infrastructure, risk controls, and stakeholder arrangements to the agreed trading and execution strategy
• Contribute to the ongoing development and improvement of transition processes, controls, and working practices

Skills and Capabilities

• Ability to represent the transition confidently with clients, including leading discussions, managing expectations, and addressing issues or changes in a clear and pragmatic manner
• Ability to influence and align stakeholders to achieve objectives in complex environments, including situations without direct authority or formal control
• Strong project ownership skills with the ability to drive complex, multistakeholder initiatives end to end
• Solid understanding of capital markets, financial instruments, and portfolio structures
• Ability to operate across complex, multiteam operating models, applying strong analytical skills and sound judgment to navigate ambiguity, assess tradeoffs, and support decision making
• Clear and effective written and verbal communication skills, with the ability to explain complex topics in a practical way
• Comfort operating in fastpaced environments with competing priorities
• Proficiency in Excel; familiarity with transition costing, workflow, or project management tools is advantageous
• Ownership mindset and integrity, combined with the ability to proactively leverage technology and datadriven tools to improve delivery and decision making, including openness to automation, analytics, and AI
• Bachelor's degree or equivalent business experience required, IMC a plus
• Knowledge of an additional European language is an advantage

Relevant Experience

• 2-4 years' experience in the asset management industry, with a preference for project management experience
• Track record of delivering complex, timecritical projects or requests for clients or senior internal stakeholders within financial services
• Experience working in roles requiring strong judgment, coordination, and delivery across multiple teams, functions, or external counterpartiesExperience operating in an investment management, trading, operations, custody, or closely related environment, with exposure to portfoliorelated activity
• Exposure to portfolio transitions, restructurings, internal reorganisations, or inspecie activity is beneficial but not required
• Experience contributing to process improvement, operating model change, or enhancement of controls, governance, or ways of working is advantageous

Development and Progression

The role offers the opportunity to build deep expertise in transition management and portfolio restructuring while progressively expanding scope and responsibility. Over time, successful candidates are expected to take increased ownership of complex activity, contribute to the development of standards and ways of working, and play a broader role in shaping how transition activity is delivered across the team.

Our Benefits

To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our Hybrid Work Model

BlackRock's hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required 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 due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person - aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.

BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.