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Manager, Derivatives

📁
Operations/Securities
📅
75734 Requisition #
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About Northern Trust:

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

 

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

 

As of December 31, 2018, Northern Trust Corporation had:

$10.1 trillion in assets under custody/administration
$7.6 trillion in assets under custody
$1.1 trillion in assets under management
$132 billion in banking assets

 

About Business Unit:

The objective of the Audit Services department within Northern Trust is to provide exceptional audit services that protect and strengthen the franchise, and support Northern Trust’s vision.

 

Audit Services provides the opportunity for financial services professionals to work on some of the most challenging issues in the industry to apply knowledge, insights, and objectivity to protect and strengthen Northern Trust’s legacy. Our talented people empower us, and we believe in building a team that is entrepreneurial, collaborative, and passionate.
 
Audit Services independently and objectively assesses operational, financial, compliance, risk management, and corporate governance processes to evaluate the adequacy of the design and effectiveness of key internal controls. In addition to providing assurance, Audit Services also offers advice as a trusted partner with process subject matter expertise.

 

ROLE OVERVIEW

Responsible for deliverables in respect of all processing activities of Derivatives Middle Office/Custody Operations executed by the team on a day-to-day basis. Act as a subject matter expert and supports the team in understanding concepts relating to the process. As Delivery Manager is responsible for ensuring overall client delivery and day to day process KPIs/KRIs are met, without compromising on quality, timeliness and accuracy. Further, provides input and support to Managers and Team Leads in achieving common goals. Analytically and procedurally competent in representing the team and process deliverables to internal stakeholders, similarly to clients externally. Responsible for coaching, mentoring and guiding team members on a continuous basis in order to achieve professional goals. Demonstrate strategic and tactical execution competencies at all times.

 

Major Duties 

  • Ability and proven experience of managing large scale complex operations with client interventions 
  • Ensure Day to day SLA & Quality parameters are met. Checklists are prepared and validated by team supervisors on a daily basis 
  • Builds and demonstrate through example a strong repository of the IOO Middle Office/Custody Operations and Domain knowledge at all times. 
  • Actively be part of creating/ capturing process updates/ workflows pertaining to business & process which have extended implications on the business
  • Conduct regular feedback sessions with direct and indirect reports.
  • Responsible for completion of Performance Management process in a timely manner as per the firm’s policies, guidelines and procedures. 
  • To get to the bottom of problems by root cause analysis and suggest/ implement controls in consultation with the Team. 
  • To take the lead in implementing large changes and oversee smooth transitions. 
  • To lead new processes migrations and client on boarding with the required levels of diligence and documentation. 
  • To assist the team management on capacity planning and capacity utilization initiatives. 
  • Drive higher levels of performance at all times across the teams. 
  • To initiate and lead team building activities within the team 
  • To actively participate in Audits/ BCP exercises as per the firms guidelines, review observations and closure. 
  • To Build and own culture of Risk/ BCP/ Compliance awareness
  • Identify opportunities for synergies, performance enhancement opportunities and risk mitigants on a continuous basis. 
  • Manager of Managers, driving a shared vision of Global Collateral Management teams at the Bank 
  • Participate in new business/client presentations, RFP responses, and other client presentations as required. 
  • Maximize the team’s operational efficiency by monitoring workflow distribution. Be profit minded: Understand the client’s profitability equation, challenge staffing models and champion initiatives to increase profitability 
  • Sets priorities based on strategic direction, considering multiple perspectives and interdependencies with other areas; helps others manage competing priorities. 
  • Recognizes and acts on opportunities for improvement of products, services or approaches; encourages others to continuously improve products, services or approaches. 
  • Determines staffing needs, including hiring and performance improvement decisions, handles salary administration, and ensures resources are available to accomplish priorities 
  • Creates growth opportunities for self and others that build on strengths and address weaknesses
  • Industry experience of at least 12+ years in the Settlements, Securities Operations with extensive exposure to Collateral Management/Derivatives is required.

  • The candidate should have managed teams for at least 7 years in his/her previous association

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  • Knowledge/ Skills:  

  • Role requires managing a team working 24*5, candidate should be flexible working in any shift as per the process/team requirements. Candidate would be expected to work in NA shift as a part of the profile to provide managerial coverage to the team 
  • Excellent demonstrable understanding of Collateral Management across Active and Passive Collateral Management functions.
  • Extensive exposure and hands on experience in the areas of Collateral Trade Capture, Pre-Settlement Confirmation and Settlement processes involving interaction with counterparties and clients. 
  • Extensive exposure to SWIFT messaging and Payments processing. 
  • A detailed understanding of Colline and Settlement systems will be an advantage. 
  • Possesses good communication & analytical skills 
  • Proven ability to build strong relationships with partners on site/ across business lines/ juniors and seniors and client relationship management
  • A proactive approach to problem solving, taking ownership of issues and having the determination to follow through.
  • Escalate issues as appropriate 
  • An extremely client focused approach with active engagement. 
  • Detailed understanding of Exposure and understanding of  Risk, Audit and Compliance factors 
  • Self-driven and an accountable approach to be demonstrated at all times. 
  • Leadership with right sense of urgency and the ability to shoulder multiple responsibilities. 
  • Should be able to think, articulate and drive strategic/tactical solutions/initiatives at the Bank. 
  • Should have either lead or actively participated in cross team / BU / functional level projects

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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), +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
  • APAC EEO Statement
    • APAC 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.

  • Canada EEO Statement
    • Canada EEO STATEMENT

      Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

  • EMEA EEO Statement
    • 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.

  • USA EEO Statement
    • USA EEO STATEMENT

      It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO poster (U.S.)EEO is Law Poster Supplement