Manager, Derivatives Operations

  • Location: London, England, United Kingdom
  • Salary: Competitive
  • Job Type: Full time

The Derivatives Outsourcing Operations department provides middle and back office operational support to EMEA investment operations outsourcing clients, across a wide range of Exchange Traded and Over the Counter products. The team’s responsibilities include trade capture, trade affirmation / confirmation, trade settlement, margin calculation, margin settlement and all associated reconciliations. The team consists of 35 Partners located across the region.

Role Overview

 

Reporting to the Head of Derivatives Operations, this role primarily focuses on servicing EMEA based Investment Operations Outsourcing (IOO) clients. The role will comprise both downward facing line management and upward facing senior management and strategic programme engagement.  The main focus of the role is to provide a consistently high level of service to new and existing clients, to enhance current processes through tactical and strategic developments and continued development of staff.

 

 

Key Responsibilities


Operational

  • Simultaneously manage derivative investment operations BAU activity, service standards, risk and costs
  • Ensure all team duties are completed accurately and according to internal, market and client-driven deadlines; organise redistribution of work and training accordingly
  • Manage business, productivity and quality metrics; review and improve processes through training and tactical/strategic initiatives
  • Provide input to operational strategy, processes and systems
  • Ensure collation of and analyse/present data for management reporting
  • Ensure Excellence in execution by promoting best practice and share/listen to feedback from peers

Team

  • Actively provide the derivative investment operations team with management, leadership and the direction required by the staff as well as proactively support their development, in order to provide a highly efficient and effective environment
  • As part of the Global Derivatives Management team, add value to the ongoing development of the infrastructure, and develop the processing platform
  • Establish team goals, objectives, and ensure adequate staffing levels to support business requirements
  • Identify areas for team improvement; deliver performance assessments; address non-performance and celebrate great work in a timely manner
  • Ensure team is managed in a way which reflects Northern Trust’s culture and values

Client

  • Work effectively and collaboratively with internal and external clients to ensure service is delivered according to agreed service levels and key performance indicators
  • Understand Client and new product requirements to ensure that all operational impact is fully defined and implemented
  • Represent the team and departmental manager in internal and external meetings
  • Represent the team on new product and new client assessment

Risk and Compliance

  • Manage the team and its processes to ensure that risk is mitigated
  • Ensure that procedures are followed and updated regularly; ensure that controls are adhered to and evidenced
  • Manage the technology available as it relates to team BAU Responsibilities

 

Change

  • As a change leader, be highly control focused, constantly seeking areas’ of improvement through process review, workflow analysis, control implementation and enhanced management information
  • Ensure all project commitments are met; project documentation duly reviewed and testing completed
  • Work closely with Technology in specifying the operational requirements and ensuring that the technology platform is be flexible, scalable and robust
  • As Northern Trust embarks on its OTC Transformation program, the team’s role is expected to evolve considerably over the next three years until it is considered a Centre of Excellence with regard to OTC operational capability  

Knowledge/Skills

  • Educated to degree level, or equivalent
  • Extensive experience within a derivative operations environment with strong process and control skills
  • Experience of working within asset management or investment operations outsources provider but we would also consider background in a broker dealer or similar
  • Proven experience developing teams and be capable of influencing senior management both internally and externally
  • Proven ability to lead teams towards meeting client expectations, but to also be a team player with a track record of building strong networks and relationships
  • Detailed knowledge of OTC and ETD products and market practices
  • Knowledge systems is desirable: Summit, Market matching platforms, Markit Trade Manager, etc
  • Advanced Excel/Word/Powerpoint skills

Competencies

  • Ability to manage workload and operate to strict deadlines
  • Excellent communication skills both written & verbal, especially the ability to escalate effectively
  • Represent Northern Trust to the highest professional levels both internally and externally (including clients, auditors, regulators etc)
  • Manage conflicts between change commitments and BAU workload
  • Identify issues and pursue to resolution; prioritise and escalate according to risk
  • Communicate clearly and concisely with partners of all levels, both verbally and in writing
  • Understanding of the Investment Management business
  • Operate calmly and remain professional under pressure
  • Adapt positively to change and adversity
  • Manage urgent requests from multiple clients simultaneously
  • Delegate effectively
  • Lead and develop a diverse team of Partners

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 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 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.

 

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.

 

As of September 30, 2017, Northern Trust Corporation had:

  • $131 billion in banking assets
  • $7.8 trillion in assets under custody
  • 9.7 trillion in assets under custody/administration
  • 1.1 trillion in assets under management