Senior Consultant (Securities Lending)
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.
As a Northern Trust employee (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. Role/ Department:
This role is a new role based in the Securities Lending Operations group in Limerick. The Securities Lending Control group provides operational, accounting and risk control oversight to Northern Trust's Securities Lending program. The Securities Financing Transactions Regulation (SFTR) introduces requirements to improve transparency and monitor the risks associated with the securities financing transactions market. SFTR will require the reporting of matched trades and collateral to a central repository where transactions will need to be matched and reported on a trade date basis rather than settlement date basis.
This represents a significant change in the timing of the matching and reconciliation of transactions (which has traditionally been settlement date driven). This standalone role manages the reporting of any exceptions recorded with matched securities lending transactions for Northern Trust.
The primary responsibilities of the role are the SFTR reporting, tracking breaks and escalation as needed within both the Securities lending Operational and Business teams as required. This will be managed across three external portals. The position will also provide ongoing project work opportunities as volumes allow.
The role involves liaising with partners at different levels of seniority across many Securities Lending areas globally (including operations, client services, product, and trading desks) and with external vendors outside of Northern Trust, and therefore strong communication skills are required.
The individual also needs to possess strong time management and prioritisation skills in order to meet the deadlines associated with this role. There is a strong emphasis on risk identification and reduction. The key responsibilities of the role include:
• Timely management of exceptions reported in the external portals.
• Timely escalation of any aging outstanding exceptions.
• Review of all operational management data reports to ensure they have been completed to a high standard of accuracy and within reporting deadlines.
• Develop effective working relationships across all areas of the Securities Lending business so that data can be sourced and query resolution addressed in an effective and timely manner with supporting commentaries as required.
• Develop strong working relationships with external vendors such as Equilend, DTCC and MarketAxess.
• Demonstrate accountability and attention to detail. Complete regular assignments without the need for reminders from the originator of the request / query.
• Identify potential risk situations, consider solutions and ensure appropriate action is taken to resolve issues and escalate to line management where necessary.
• Actively seek for opportunities to improve processes and make constructive plans towards achieving efficiencies and support IT enhancements providing end user testing as required.
• Provide appropriate, accurate input to management reporting. This would include supporting the completion of the EMEA Control Manager's updates as required.
• Help to foster a positive team spirit and environment. Actively participate in team meetings.
• Carry out ad-hoc project work to a high standard.
• Have a strong knowledge of the processes and procedures related to Securities Lending at Northern Trust and a good understanding of the Securities Lending product. Skills/ Qualifications:
The successful candidate will benefit from having:
• Experience in an analytical role or risk / control function within a banking institution.
• Previous experience in Equity Finance / Securities Lending Operations advantageous
• Previous experience of working on any or all of the required portals (, EquiLend, MarketAxess and DTCC) is advantageous
• Able to set priorities and manage deadlines, escalating issues where necessary.
• Excellent team player, self-starter, flexible, with the ability to work under pressure with minimal supervision.
• An eye for accuracy with strong attention to detail.
• Excellent written and verbal communication skills, with the ability to articulate issues in a clear, logical fashion.
• Ability to grasp new concepts quickly.
• Strong questioning skills to determine nature of a problem and assess implications.
• Able to work in a changing environment, recognise opportunities for improvement and make constructive suggestions.
• Strong PC skills, in particular, Excel. The knowledge of Macro / Visual Basic and the ability to understand how an Access database works and how to run queries to obtain data. Working with Us:
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. In return, we will support you with your personal and career goals in a number of ways:
- Life Assurance, Disability Plan, Pension/ Gratuity, Annual Pay Review
Work Life Balance
- Flexible Work Options, Incremental Annual Leave, Community Volunteer Days
Health & Wellbeing
- Private Medical Insurance, Active Sports & Social clubs (lunchtime and after-work groups), Employee Assistance Program
- Clear Career Path, Education Assistance, Recognition Programme, NT University (wide range of online, virtual & in-house training options) and employee-led Business Resource Councils dedicated to diversity and inclusion initiatives.
We hope you're excited about the role and the opportunity to work with us.
We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.