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Middle Office Operations, Hedge Fund Services

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Operations/Securities
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73143 Requisition #
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Northern Trust Hedge Fund Services
Middle Office Operations

Our Middle Office Operations team in Hedge Fund Services is growing, and looking for talented individuals to join one of the below teams. 

  • OTC Structured Products 
  • Clearing & Settlements 
  • Bank Debt & Fixed Income 
  • Product Control

About Northern Trust Hedge Fund Services: 
Northern Trust Hedge Fund Services offers world-class, scalable technology and dedicated expertise to serve Hedge Funds and large Institutional Investors with complex portfolios and product types. The business provides comprehensive middle office and administration services, including trade processing, asset servicing, valuation and profit and loss reporting, cash and collateral management, reconciliations, accounting and NAV calculations and investor servicing and reporting.

OTC Structured Products: 

The OTC (Over-The-Counter) team is responsible for the trade capture, verification, settlement, life cycle event processing and break resolution related to all client OTC derivative transactions. In addition, the OTC team is responsible for the affirmation/confirmation of all OTC trade types on electronic platforms and/or on paper as well as the completion of requested amendments related to all client OTC trade bookings.

OTC key responsibilities are:
  • Trade Affirmation & Trade Confirmation
  • OTC Products   (Cash Flow Settlement & Asset Servicing) 
  • Lifecycle Event Processing – Resets, Assignments, Unwinds

Clearing & Settlements: 

The Clearing and Settlement’s mission team is responsible for managing the clearing and settlement functions with client Counterparties for equity, futures, options, and some of the standard fixed income products such as corporate bonds, convertible bonds, government bonds etc. The mission of the Clearing & Settlements team is to deliver the most scalable and efficient clearing and settlements in the market. 

C&S key responsibilities are:
  • Trade capture, trade affirmation, trade matching 
  • Trade transmission to Prime Brokers/Custodians and allocations to Executing Brokers
  • Break resolution 
  • Event processing (futures, options)
  • Trade settlement support
Bank Debt & Fixed Income: 

The Bank Debt team’s mission is to provide services to bank loan clients who extend credit to non-investment grade companies through a syndicated commercial or investment bank. The Global Fixed Income team provides services to its clients who trade structured fixed income products, supporting client trades, and positions. Bank Debt and Fixed Income’s key responsibilities include trade management and asset servicing for fixed income and bank debt products. 

Bank Debt’s key tasks include:

  • Trade Capture, Affirmation and Confirmation
  • Event Processing and Asset Servicing
  • Reconciliations
  • Active settlement/fails management for custodian trades 
Product Control: 

Product Control’s mission is to efficiently and effectively manage the valuation process and deliver timely profit and loss reporting (PnL). The Product Control function within HFS is responsible for valuation, daily and monthly P&L reporting, end of month pricing substantiation and end of day positional risk reporting. In this role, the individual will be the main point of contact for the client on all things related to understanding their trading profit & loss and how their valuations have been sourced. 

Product Control’s key tasks include: 
  • Review and sign-off of daily and monthly client PnL
  • Reporting final month-end PnL to clients
  • Consulting on how best to price financial products
  • Sharing knowledge with team members
  • Collaborating in and prioritizing development initiatives
  • Assisting sales in demos to prospective clients 
Knowledge/Skills:

  • Bachelor’s degree strongly preferred
  • Excellent people skills; ability to dynamically act as knowledgeable point of reference to co-workers domestically and internationally
  • Proficiency in Microsoft Word, Excel (ability to create macros)
  • Excellent math and analytical skills 
  • Excellent written and oral communication skills 
  • Strong organization skills, meticulous attention to detail. 
  • Ability to handle multiple tasks under extremely time sensitive conditions 

Experience:

The successful candidate will be a mature self-starter who has demonstrated the ability to function independently in a fast-paced, dynamic and demanding environment. This person needs to be able to resolve conflict within a short period of time. This person will be intellectually curious, intuitive, trustworthy and have the highest ethical standards. In addition, he/she will be effective addressing a number of internal and external audiences in a professional manner. This person will add value by working on a number of simultaneous tasks with minimal supervision and exemplary follow-through.



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 

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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