CAREERS

Consultant, Operations Control

📁
Operations/Securities
📅
83206 Requisition #

About Northern Trust:
Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.


Working with Us:
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve!               
We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why Forbes ranked us the top employer for Diversity in 2018.
We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and ethical companies. Build your career with us and apply today.


ROLE

The Global Derivatives Practice (GDP) provides asset servicing and middle and back office services to clients and investment managers trading in Derivatives products. The services supported by GDP include trade capture and lifecycle management of OTC and ETD instruments, confirmation and settlement activities, full margin and collateral management support and regulatory reporting. GDP is a rapidly growing arm of the C&IS Business Services group. 

The Derivatives Operational Control Consultant role is responsible for oversight of the operational control structure of the Derivatives processing units within GDP. The Control Consultant will support the Derivatives Operational Control Manager by providing proactive guidance to partners to strengthen controls, ensure compliance with established operational control policies and procedures, and mitigate operational risk.

This role will provide an opportunity for the successful candidate to develop knowledge and experience of a dynamic and varied environment of Derivatives Operations including derivatives processing, valuations, reconciliation and collateral management. The position will report directly to the NOS (Northern Operating Services) Derivatives Operational Control Manager in India.

MAJOR DUTIES:

• Foster and promote Northern Trust's commitment to a strong risk management culture by working to develop a control culture within GDP Operations
• Assist Control Manager in establishment and implementation of control functional activities leveraging best practices and maintaining consistency of their execution globally
• Actively participate in Derivatives Control/ GDP Operations Leaders meetings and risk forums providing advice and support on risk, control and compliance matters
• Monitor key metrics to identify operational risk and/or control issues at an early stage and ensure that immediate measures are taken to maintain quality and efficiency standards. Drive recommendations to strengthen control weaknesses.
• Conduct independent reviews of GDP Operations’ processes and activities to ensure strict adherence to controls and corporate policies and allow to proactively identify and remediate issues ahead of official audit, compliance and regulatory reviews
• Conduct reviews of operational losses and incidents within GDP analysing trends/ root causes and tracking recommendations on control enhancements and remediation
• Oversee GDP Operations’ adherence to exception management policies and ensure timely escalation of issues to Management
• Conduct periodic procedure reviews for existing processes as well as new processes created by client implementations and take-on activity
• Coordinate periodic maintenance and testing of GDP Business Continuity Plan and related activities by regional business units in accordance with corporate policy
• Serve as a liaison for all internal and external audits, compliance reviews and regulatory examinations
• Track and monitor all audit reporting and regulatory review findings and work with GDP Operations to ensure these are remediated effectively and in a timely manner
• Assist with operational and Corporate Risk & Control initiatives where directed to uphold First Line of Defense role within GDP
• Consistently operate to reduce operational risk and identify and escalate any potential risk situation
• Promote teamwork and assist Derivatives Control Management in achieving Control function’s objectives and adding measurable value to the business and Northern Trust’s clients

KNOWLEDGE/SKILLS:

• Advanced knowledge of derivatives products, their structures and behaviors and trade lifecycles
• Knowledge of Derivatives Operations regulatory requirements and industry best practices
• Strong understanding of GDP Operations’ functional structure, products & services, end-to-end processes and deliverables (Fund Accounting knowledge is also beneficial)
• Working knowledge of trade processing, accounting and reporting systems used by GDP Operations (GMI, Omnium, Fundmaster, Passport)
• Knowledge of risk management techniques and proven ability to assess and challenge business processes within GDP Operations for control design and efficiency
• Ability to prioritise and achieve multiple deliverables within prescribed timeframes and work with minimum supervision
• Effective project management skills are essential to assist in driving various initiatives
• Ability to work collaboratively with others, develop strong partnerships and achieve a level of trust at all levels
• Excellent analytical, consultative and verbal and written communication skills
• Exceptional self-starting skills, attention to detail, and ability to manage issues through to closure
• Strong knowledge of MS Excel, Word and Powerpoint

Experience

Overall industry experience of 6+ years (inclusive of 2 years in the current role).

• Degree in Finance, Accounting, Economics or applied sciences desired
• In-depth knowledge of financial services industry
• Minimum 7-10 years’ experience in a control and/or financial service operations function in a fast-paced, client-focused, deadline-oriented environment
• Experience working and supporting diverse and demanding, internal and external stakeholders
• Hands on experience with derivatives is essential
• Experience/ exposure to working in a strong control environment with required regulatory protocols
• Experience working with self-managed and/or highly complex clients such as highly complex asset managers or pension funds
• Knowledge of complex products such as exchange-traded derivatives and OTC including total return swaps, foreign exchange, and credit and interest rate products both bi-lateral and cleared
• Comfortable with Collateral Management concepts and processes
• Track record of lending assistance and mentoring others

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Reasonable Accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), +630-276-5353 (Asia Pacific), 1800-425-0333 (India), +44(0)207 982 4357 (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

Equal Employment Opportunity Statements
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    • APAC/INDIA EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

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    • EMEA EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

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    • USA EEO STATEMENT

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