About Northern Trust
As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.
Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.
With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
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.
Role
The job requires working for a Global Hedge Fund Administrator, specializing in administering assets of complex hedge funds. This individual will have a strong technical Accounting background; experience working within the Financial Services industry. The position involves performing daily reconciliation of transactions, security positions and cash for all trading activity generated by clients.
Major DuTIES
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Confirmation of all OTC trades on electronic platforms or on paper (scanned) where required
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Liaison between trading desk, reconciliation and control group, and counterparties to resolve any economic discrepancies on trades in timely, efficient manner.
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Ensure timely receipt of OTC confirmations from trading counterparties.
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Ensure accuracy of transaction agreements and modifications.
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Liaison between trading desk, counterparties and legal department to resolve any legal language discrepancies on OTC trade confirmations.
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Assist swap confirmation team in covering all OTC products such as total return swaps, equity options, credit defaults, convertible bond options and fixed income products.
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Assist swap confirmation team in developing and implementing projects and software which promote automation and efficiency.
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Understanding and managing settlement of swap cash flows associated with OTC products, including upfront fee, unwinds, quarterly premium and resets
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Manage the settlement of swap cash flows associated with OTC products, including unwinds, quarterly fees, resets, and premiums
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Assist in proper operational reflection of OTC trades.
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Process all aspects of periodic resets for IRS, CDS, and TRS products
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Review booking of corporate actions and dividends/coupons to ensure it affects the position and p/l properly.
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Efficiently identify transaction discrepancies between the client and swap counterparties
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Identify opportunities for improvement and make constructive suggestions for change
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Must be able to interact with co-workers and clients in a fast-paced trading environment.
ACCountabilities
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Employees are required to comply with the regulatory regime in which Northern Trust operates as appropriate to the above role
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Employees are expected to exercise due care and diligence, ensuring the areas the incumbent is responsible for are organised and controlled
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Employees are required to observe proper standards of market, business and personal conduct, demonstrating integrity in the execution of duties
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Reports to TL/ Section Manager
Skills
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Approachable and able to promote teamwork through creative solutions
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Good analytical, numerical and reasoning skills
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Time management and delegation skills
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Deep understanding of process and process improvement
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Excellent/advanced knowledge of Excel with VBA experience being a plus; should be familiar with MS Word & Office tools.
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Excellent English, grammar, written and oral communication skills
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Adaptive, flexible style with the ability to work in a dynamic, fast-paced environment
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Ability to handle multiple tasks under extremely time sensitive conditions
Qualifications:
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A minimum of 4-6 years of experience in Financial Services environment, preferably 1-2 years of experience in Derivative affirmation and settlement process and 2 years in the Current role.
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Experience with Hedge Funds, Investment Management and/or Financial Services strongly preferred.
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Bachelor’s degree with emphasis in Accounting, Finance or a quantitative discipline. Masters’ degree would be an advantage.
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Business exposure to Equity or Credit or at least some complex derivative products like CDS, IRS, TRS & other OTC products.
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Proficiency with DTCC Deriv/SERV, SwapsWire or eConfirm platforms preferred.
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Understanding of established guidelines and documents published by ISDA is helpful
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 committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected], or alternatively you can discuss your individual requirements with the recruiter you are working with.
About Our Bangalore Office
The Northern Trust Bangalore office, established in 2005, is home to over 5,600 employees. In this stunning office space, we offer fantastic amenities which include our Arrival Hub - Jungle, the GameZone, and the Employee Experience Zone that appeal to both clients and employees. Learn more.
