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[ CASE STUDIES ]

Aladdin Product Development

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We had spent years trying to explain our needs to BlackRock without success. CORSA’s ability to translate our vision into actionable requirements and guide the conversation meant we finally got traction.

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Client Overview

The client, the investment management arm of a global reinsurer, operates a hybrid portfolio structure. While some portfolios are fully owned, others are co-managed with external investors—creating a unique view of managed risk. The client needed to manage performance, compliance, and reporting across both the total portfolio (Entity Level) and the portion attributable to its own ownership stake (Retained Risk).

 

This dual-layered view had no standard solution in BlackRock Aladdin, and the client had struggled for years to get BlackRock to fully understand or support this model. The lack of system support resulted in reporting limitations, operational workarounds, and strategic frustration.

The Challenge

01
No out-of-the-box Aladdin solution for dual ownership views (Entity vs. Retained Risk).
02
Limited understanding by BlackRock of the client’s specific use case and data requirements.
03
Fragmented communication between business, operations, and BlackRock Product teams.
04
Inability to view or manage internal retained risk in a scalable or integrated way.

Our Solution

CORSA led the client’s engagement with BlackRock Product to develop a fit-for-purpose solution:

Requirements Gathering

Captured and documented complex ownership logic, reporting needs, and cross-functional use cases.

Stakeholder Alignment

Facilitated internal alignment on what success looked like and the must-haves for adoption.

Vendor Communication

Translated client needs into system terminology and co-presented with the client to BlackRock’s senior Product and Engineering teams.

Solution Design Collaboration

Gave BlackRock creative freedom to explore alternatives and supported iteration.

API-Based Proposal

Helped shape a custom API solution from BlackRock, enabling clients to scale positions up or down to reflect Entity and Retained Risk views.

The Result

01
Full alignment achieved between business, operations, and vendor stakeholders.
02
A working proof-of-concept delivered and validated by the client.
03
Clarity and structure to support a longer-term development roadmap. Re-established confidence in BlackRock’s willingness to collaborate on client-specific innovation.
04
A framework to manage both the portfolio and retained risk views without duplicating data or workflows.
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[ Client Testimonial ]

“We had spent years trying to explain our needs to BlackRock without success. CORSA’s ability to translate our vision into actionable requirements and guide the conversation meant we finally got traction. The result is a solution that addresses one of our most complex and strategic challenges.”

What happened next

The client is now using the proof-of-concept to define technical and functional specifications for a production-grade solution. CORSA continues to advise on product development, business integration, and internal training and adoption strategies.

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