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Team Leader, Australia Financial Reporting

📁
Accounting Portfolio / Fund
📅
73418 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 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 


Role Overview

This position supports the Australian Investment Accounting team and is responsible for monthly, quarterly, half-yearly and annual financial reporting, regulatory reporting and tax reporting to a diverse range of investment manager and superannuation fund clients. The position reports to the Manager of Australian Investment Accounting.

The job holder is responsible leading/managing a team of Financial Reporting professionals (Analysts, Senior Analysts and Technical Coordinators) consisting of 6-10 full time employees. The job holder has responsibility for the team’s training, performance management and performance in the preparation and review of financial statements, significant acquisitions and disposals and explanatory notes on the same (including preparation and review of tax reporting data due to tax agents), for mutual funds, hedge funds and/or fund of hedge fund clients.
 
Financial statements are prepared on a cyclical basis (for example; quarterly, semi-annual or annually) depending on the team in accordance with regulatory guidelines in the home country (for example: Australia, Guernsey, UK, Ireland, Luxembourg, Switzerland and U.S). The preparation is based on a set processes and procedures and the job holder will be required to adhere to these processes in completing day to day tasks.

Once financial statement is prepared, the jobholder will be responsible for reviewing the work of more junior team members including, analysis and research for any discrepancies before the statement is issued to the home country for review. The Technical Coordinator will then oversee and review any required corrective work as identified and communicated by the home country before closure.
 
Due to the cyclical nature of the activities, it is anticipated that there will be peak periods of work and the job holder may be required to undertake additional working hours to ensure tasks are completed to the appropriate deadlines.

The job holder is will have leadership responsibility for assigned team and processes including planning, allocation and review of work within defined timescales. 


Major Duties

  • Performing quality assurance checks on information received internally from other supporting functions. Close attention to detail required.
  • Responsible for maintaining the team’s Key Performance Indicators (KPIs) as per the agreed Service Level Document (SLD) with home country.
  • Work closely with counterpart in home locations to resolve queries
  • Create, maintain and update procedures/processes
  • Ensure compliance with all controls and procedures outlined in the procedures manual and general company policies
  • Review and sign off on reports, accounts and tax related work of other team members
  • Work closely with the Manager(s) and stakeholders across Northern Trust locations through the various stages of transitions and on-boarding of processes in Manila seamlessly, as per the transition plan.
  • Ensure all scheduled work is completed by agreed deadlines, checklists are signed and files are complete
  • Identify and implement process improvements to reduce risk and develop efficiency of function
  • Ensure that technology available is being fully utilized in the most efficient manner
  • Ensure full and proper reporting and escalation of any operational issues
  • Escalate and communicate any service delivery issues (for example, late reporting) as identified
  • On-going review of daily controls and communications of suggested procedural changes
  • Assist with recruiting, training and coaching of new team members
  • Assist the Manager(s) in the production and enhancement of revised departmental procedures for use as training tools
  • Work with the Manager(s) to continually assess the team’s processes to improve efficiency, reduce risk and/or cost, as well as to increase the engagement and motivation of staff. 
  • Manage the allocation of the workload in a fair and efficient manner
  • Review work status on a regular basis and develop priorities
  • Provide leadership of team and across other groups by sharing knowledge as appropriate. 
  • Provide objective and regular feedback to team members
  • Conduct performance review and appraisal of team members
  • Working closely with Manager(s) on various processes/projects, such as being assigned to take the lead and/or assist to implement new processes in order to help the team be successful in its goals and KPIs.
  • Additional tasks that may from time to time be required which are appropriate to the role and business requirements.



Qualifications

Knowledge, Skills and Competencies

  • Client service and relationship management
  • Demonstrated understanding of the application of Australian Accounting Standards as they relate to MIS’s and Superannuation funds, and the different assets they invest in
  • Demonstrated understanding of the application of Australian Tax rules as they relate to MIS’s and Superannuation funds, and the different assets they invest in
  • Understanding of different trust structures and entity types
  • Demonstrated understanding of the application of regulatory reporting requirements – APRA, ABS, BAS, PAYG
  • Proficiency in utilizing Financial statements and tax reporting system tools
  • Strong excel skills
  • Strong leadership skils
  • Knowledge of accounting and regulatory concepts, financial instruments and products acquired through studies and related work experience
  • Excellent desktop, IT and systems skills. Experience of Sungard InvestOne fund accounting platform or FundARC Suite financial reporting systems advantageous. Knowledge of Microsoft Excel and Word essential 
  • Knowledge of AUS GAAP through studies and/or work experience (preferred)
  • Knowledge of related systems: Bloomberg, Reuters (preferred)
  • Excellent interpersonal skills, as this role requires interaction at all levels of the organisation and externally.

Experience

  • 6 - 8 years of financial statement preparation or financial reporting in an audit firm, hedge fund, mutual fund or financial institution
  • Bachelor’s degree in Accounting or Finance
  • Certified Public Accountant (CPA) is highly desirable
  • People management experience gained within a financial services organization
  • Technical understanding and practical application of accounting and tax concepts as they relate to Managed Investment Schemes (MIS’s) and Superannuation funds
  • Preparation and review of Financial statements
  • Preparation and review of Trust distributions, Superannuation fund tax provisions, tax returns
  • Experience working within a Custodian, Superannuation fund, or Investment Manager accounting/tax team
  • Understanding of unit pricing and unit registry concepts
Shift: 7AM M-F

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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