Standard is a format full of creatures. Even the control decks have threats you have to deal with now. There are very few color combinations that are better at doing it than B/W.
This deck has elements of Abzan Control and U/B Control all wrapped into one nice package of black and white cards. End Hostilities and Perilous Vaults clean up the big messes while Bile Blight and Hero's Downfall deal with the smaller stuff. Utter End is a great answer to things like Mastery of the Unseen, Outpost Siege, and Deathmist Raptor, which very few decks have answers to.
Elspeth, Sun's Champion and Ugin, the Spirit Dragon are the high end finishers, which isn't surprising. However, Resolute Archangel also makes an appearance. If you're looking for a big finisher that can also get you out of sticky situations, like hoping your opponent doesn't peel that game winning Siege Rhino or Stoke the Flames, you can't do much better than a card that can gain you nineteen life.
I like this deck a lot because it can play Sign in Blood, one of the best cards in Standard that doesn't really have a home right now. Damnable Pact is also a fine card, capable of generating an insurmountable advantage or just outright killing your opponent. Being able to side in Risen Executioner is also very potent against Esper Dragons, and it is definitely something I want access to in my control decks.