Northern Trust
in London, England, United Kingdom
Permanent, Full time
Last application, 17 Jul 19
Northern Trust
in London, England, United Kingdom
Permanent, Full time
Last application, 17 Jul 19
Northern Trust
OTC Derivatives SME

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.

The Company
Northern Trust Corporation, a multi-bank holding company based in Chicago, is a leading provider of custody, investment management, asset and fund administration, back office outsourcing, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide.

Northern Trust has a strategic goal to deliver and develop first class Derivative support services for its growing outsourcing business and to provide component solutions to clients that may need selected services without outsourcing their investment operations

Department Overview
The Derivatives Outsourcing department provides middle and back office operational support to investment management 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 OTC Derivatives Strategic Solutions (SME) Team currently consists of 3 staff who report to the OTC Derivatives SME Team Leader. The team are responsible for providing cross-product coverage on a variety of functions, listed below, that are not covered by the BAU teams and their daily processing activities.

Team Responsibilities
• Manage implementation of Change projects within SDLC guidelines:

1. Strategic Transformation
2. Client Change Requests
3. Client on-boards and exits
4. New Business/Transitions
5. Enterprise projects
6. Team projects and improvements initiatives

• Managing Change implementation will entail any of the following:

1. Reviewing and providing feedback to Scope and Requirements documents
2. Helping design and test new operational processes
3. Assisting with preparation of test packs
4. Performing UAT and other testing or coordinating testing by the BAU teams
5. Preparation of procedural documentation
6. Training BAU teams

• Respond to client enquiries related to support for new products, including review of product confirmations and determining whether a formal Change Request is required
• Review BAU processes identified by management team; identify and implement improvements
• Handle non-standard queries escalated by the BAU teams
• Provide ad-hoc processing support to BAU teams as and when required
• Provide support for EUC applications, including ensuring new EUCs are tested and logged according to NT EUC policy; performing minor fixes and enhancements where possible
• Manage governance of EMEA functions migrated to lower-cost locations, including facilitating weekly meetings, performing spot-checks and reviewing process sign-offs
• Provide assistance with responses to RFPs, in collaboration with Derivatives Product, Onboarding or Client Service teams
Perform SLA reviews and updates to deadlines agreed with the Derivatives Client Service team

Individual Reponsibilities
• To provide support to the OTC Derivatives SME Team Leader and Head of EMEA DOO
• To provide appropriate support to BAU teams with Change Projects and Change Requests
• To monitor and track Change workload agreed and implemented
• To undertake various tactical and strategic initiatives to improve performance
• Ensure all team duties are completed accurately and according to internal, market and client-driven deadlines; organise redistribution of work and training accordingly
• Attend internal and external meetings with Clients and Counterparties where required
• Ensure Excellence in execution by promoting best practice and share/listen to feedback from peers
• Ensure that procedures are followed and updated regularly
• Ensure that controls are adhered to and evidenced daily

Products Covered Include
• IRS, RPI's, Zero Coupon Swaps, Credit Default Swaps, CFD's, Equity Swaps, Equity Options, FX Options & Swaptions
Desired 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 ability to meeting client expectations, but to also be a team player with a track record of building strong networks and relationships
• Detailed knowledge of OTC products and market practices
• Knowledge systems is desirable: Summit, Market matching platforms, Markit Trade Manager, etc
• Advanced Excel/Word/Powerpoint skills

• 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
• Escalate effectively

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!

• Want to learn more about our company? Visit www.northerntrust.com
• We are a leading global financial institution- Click here to check out our company accolades!