Ensure execution at position of placed block?

When using an advancement to listen to a block placement like so:
{
  "criteria": {
    "place_block": {
      "trigger": "minecraft:placed_block",
      "conditions": {
        "location": [
          {
            "condition": "minecraft:location_check",
            "predicate": {
              "block": {
                "blocks": "minecraft:diamond_block"
              }
            }
          }
        ]
      }
    }
  },
  "requirements": [
    [
      "place_block"
    ]
  ],
  "rewards": {
    "function": "foo:bar"
  }
}

The function bar gets executed as and at the player. Is there a built-in way to execute said function as/at the block? 
If not, what's the best way to ensure execution at the block?
Is it just to perform a raycast function with ^ ^ ^ ?