Defined Contributions (DC) Service Delivery Consultant

Northern Trust; London; On-site; GBP 40,000 - 60,000; Full time

Job summary

A leading financial institution seeks a diligent individual to join the Accounting and Data Services Team in London. The successful candidate will be responsible for managing defined contribution processes, ensuring compliance with industry regulations, and overseeing financial transactions. Candidates should possess a finance-related degree and have experience in custody operations or financial oversight.

Qualifications

• Prior experience in custody operations or pension fund administration.
• Knowledge of DC pension schemes and fund structures.
• Understanding of FCA CASS rules and TPR guidance.

Responsibilities

• Oversee the processing of member transactions including contributions and switches.
• Ensure compliance with FCA, TPR, and other regulations.
• Act as a subject matter expert for internal stakeholders.

Skills

Analytical skills

Problem-solving skills

Client-centric approach

Education

Bachelor’s degree in Finance, Economics, Business

Tools

Microsoft Excel

Reconciliation tools

Data analytics platforms

Job description

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

This role sits within the Accounting and Data Services Team in London.

The objective of the team is to perform functional oversight of the defined contribution process, ensuring the timely allocation of member money allocation across investment pools

As a key part of the first line of defence, you will be responsible for monitoring the end-to-end processing of Defined Contributions (DC) member contributions, switches, redemptions, and valuations, ensuring compliance with service-level agreements (SLAs), regulatory standards, and internal risk controls.

Key Responsibilities include:

Operational Oversight & Monitoring

• Oversee the accurate and timely processing of member transactions including contributions, investment switches, and disbursements.
• Monitor fund pricing and valuation processes for all investment options to ensure accuracy and timeliness.
• Track and verify allocation of member money across funds, ensuring alignment with fund instructions and mandates.
• Custodian-Fund Interaction
• Liaise with DC pension fund managers, transfer agents, and third-party administrators to ensure smooth coordination and resolution of exceptions
• Ensure investment instructions from pension funds are actioned in a timely and accurate manner by the custody teams.

Control & Risk Management

• Implement and maintain oversight controls and exception reporting mechanisms.
• Identify, investigate, and escalate operational risks and breaches, working with internal teams to implement mitigating actions.

Regulatory & Governance Compliance

• Ensure compliance with FCA, TPR, and other applicable regulations governing DC pension operations and custody.
• Support internal and external audits, risk reviews, and regulatory reporting requirements.

Client & Stakeholder Engagement

• Act as a subject matter expert and key contact for internal stakeholders including client service, risk, and compliance teams.
• Participate in client oversight meetings and provide transparent updates on processing performance and key metrics.

The ideal candidate should have a fair amount of the following skills and experience

• Prior experience in custody operations, pension fund administration, or financial operations oversight.
• Knowledge of DC pension schemes, fund structures, and member transaction workflows.
• Experience interacting with asset managers and pension scheme operations groups is desirable.
• Strong analytical, investigative, and problem-solving skills.
• A proactive and client centric approach to problem solving and expectations management
• Familiarity with transaction lifecycle in investment operations (contributions, switches, redemptions).
• Understanding of applicable regulatory requirements (e.g., FCA CASS rules, TPR guidance).
• Proficiency in Microsoft Excel; knowledge of reconciliation tools and data analytics platforms is a plus.
• Bachelor’s degree in Finance, Economics, Business, or a related field.
• Relevant industry certifications (e.g., IOC, IMC, or similar) are advantageous.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

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 sustainable companies! Build your career with us and apply today.

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail].

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.

For further information, and to apply, please visit our website via the “Apply” button below.