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Sr. Consultant, OTC Middle Office Asset Servicing, HFS

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Operations/Securities
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73735 Requisition #
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OTC Senior Consultant, Northern Trust Hedge Fund Services

Founded in Chicago in 1889, Northern Trust is one of the world’s leading financial institutions. We specialise in providing asset servicing solutions and asset management to both institutional and personal clients. The delivery of products and services to this client base is supported through a network of offices around the globe.

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. 

Job Description:

The OTC Sr. Consultant is responsible for the verification, settlement, life cycle event processing and break resolution related to all client OTC transactions. In addition, the Sr. Consultant 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.

Major Duties:
  • Affirmation/Confirmation of all OTC trades on electronic platforms or on paper where required
  • Manage the settlement of swap cash flows associated with OTC products, including unwinds, fees, resets, and premiums 
  • Assist in proper operational reflection of OTC trades 
  • Review booking of corporate actions and dividends/coupons to ensure accurate position and p/l attribution
  • Efficiently identify and resolve transaction discrepancies between client and swap counterparties. Liaison between trading desk, control groups and counterparties to resolve any economic discrepancies on trades in a timely and efficient manner 
  • Process all aspects of periodic resets for vanilla and exotic IRS, CDS, and Equity OTC products 
  • Ensure timely receipt of OTC confirmations from trading counterparties 
  • Ensure accuracy of transaction agreements and modifications 
  • Work with IT in the development and enhancement of the trade management system
  • Prioritize time accordingly to action trade breaks by end of day 
  • Understand and process trade activity in accordance with established operations policies and procedures; understand and minimize risk associated with trade mismatches 
  • Must be able to interact with coworkers and clients in a fast-paced trading environment. 
  • Should be intellectually curious, intuitive, and trustworthy and have the highest ethical standards 
  • Effectively address a number of internal and external audiences in a professional manner 
  • Assist in the training of personal internationally 
  • Perform other related duties as required

Knowledge/Skills:
  • Bachelor’s degree strongly preferred
  • Five plus years of experience in OTC structured and derivatives products operations including:
  • Experience with the settlement of OTC structured and derivatives products 
  • Experience reviewing documentation for OTC structured and derivatives products 
  • Proficiency with DS Match, MarkitWire/MarkitTradeManager, and eConfirm platforms 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 
  • Understanding of the various transaction types within each asset class beyond ‘vanilla’ trades is preferred (e.g. for IRS, understanding of caps, floors, swaptions, etc. and for CDS, understanding of tranches, recovery swaps, ABS/X, etc.) 
  • Understanding of established guidelines and documents published by ISDA is helpful
  • OTC Regulatory knowledge across Dodd Frank, EMIR, ASIC, MAS

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 September 30, 2018, Northern Trust Corporation had:

$10.8 trillion in assets under custody/administration
$8.2 trillion in assets under custody
$1.2 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