Derivative Client Services Manager
Derivative Client Services Manager
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 16,500 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 built 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.
Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion. Role Purpose:
The primary function of the Derivatives Client Service Team is to act as the liaison between clients, Investment Managers (IMs), internal business partners and the derivatives support teams. A Derivatives Client Services Manager (CSM) is the primary point of contact and is responsible for facilitating communication and simplifying information flow for clients that use derivative contracts.
The Client Services team focuses on all aspects of the client relationship at every stage of their relationship with Northern Trust. This can include participating in initial prospect meetings and due diligence sessions with product and sales teams, operational workshops and participation in implementation / on-boarding with operations teams and relationship managers. Post-implementation, the Derivatives Client Services Team manages the Derivatives relationship, maintaining close contact with clients and/or internal client teams and acting in a proactive role focused on service development and delivery as well as serving as the primary escalation point for clients. Key Responsibilities:
• Own relationship from a derivatives perspective with highly demanding and complex clients
• Effectively manage client expectations and communication on all matters relating to derivative products
• Act as liaison between clients, internal partners and derivative operations owning the response and communication flow
• Act as point of escalation and provide guidance to team members and business partners
• Provides support for escalation of issues related to derivative products covering all facets of the product
• Analyse complex client inquiries engaging appropriate support areas and SMEs collating responses and fully owning the item through to resolution
• Handle difficult client situations professionally and in a timely manner ensuring the necessary level of attention is applied by all partners involved
• Contribute to collation of official service review materials and actively participate in any and all meetings.
• Provide constant process review identifying improvements and pro-actively contribute to the change management process by quantifying benefits and potential impacts
• Develop a thorough understanding of all the client service models, individual client strategy and future growth potential
• Maintain strong working relationships with internal partners and provide SME input into strategic plans
• Participate in industry events, develop and maintain strong links with the derivatives industry to monitor and assess growing trends to understand the wider environment and recommend development initiatives to ensure NT remains as the leading service provider
• Represent the practice region within the larger Northern Trust organization, acting as liaison to internal sales, relationship, product and operational groups
• Be a subject matter expert within the Derivatives Practice and provide comprehensive, in-depth consulting and leadership to team and partners at a technical level The Person:
• Proven track record in client service and /or financial service client facing operations role in a fast paced client-focused, deadline-oriented environment
• Proven experience of managing tier 1 client relationships and capable of influencing senior management both internally and externally
• Strong Leadership skills gained through leading or directing a team or project
• Good knowledge of derivatives products, their structures, behaviours and associated life cycle events
• Thorough knowledge of a derivatives operations environment obtained from experience of working in a back or middle office, trade support, BA etc.
• Excellent management and communication skills for the benefit of developing the relationship with both the external client and internal stakeholders
• Technical knowledge of general accounting standards
• Strong knowledge or experience of accounting and reporting systems
• Ability to Comfortably and Confidently deliver presentations to both senior internal and external audiences
• Ability to develop and evaluate solutions that fit in with the existing client offering while meeting client requirements
• Clear understanding of prioritization and ability to communicate this to partners in the Derivatives practise to ensure correct timely resolution of high profile items
• Ability to proactively determine and manage a client's needs through open and insightful dialogue
• Confidence to discuss and articulate the different derivatives functions and operational processes with subject matter experts and senior management
• Comfortable communicating with all levels of management internally and at the clients
• Ability to partner with others to deliver solutions to the benefit of individual clients and the wider client base.
• Ability to effectively manage expectations with both clients and internal business partners
• Exceptional self-starting skills, attention to detail and an ability to manage simultaneous activities through to resolution
• Excellent negotiation skills
• Must be very flexible in approach and open to change
• Degree in Finance, Accounting, Economics or applied sciences.
• Thorough knowledge of the Derivatives markets and familiarity with complex products
• Experience in managing or participating in projects focused on business evolution
• Understanding of Active Collateral Management processes
• A track record of meeting client expectations with a track record of building strong networks and relationships.
• A strong knowledge of current regulatory requirements would be desirable
• Previous experience or exposure to a custodian bank, fund administrator or outsourced operations model desirable
• Solid understanding of clearing services, market requirements and live dates for different types of financial institutions desirable 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. Working with Us:
As a Northern Trust 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.
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. Build your career with us and apply today.