Depositary Analyst

ACCA Careers; Limerick; On-site; EUR 65,000 - 90,000; Full time

Job summary

Northern Trust's Depositary Analyst role supports oversight across a portfolio of investment funds, ensuring investor protection, safekeeping, and regulatory compliance. The position collaborates with fund managers and service providers to maintain strong controls and timely issue resolution.

The role emphasizes monitoring of fund activity, due diligence on delegates, risk assessments, and proactive client and stakeholder interaction.

Qualifications

• Understanding of investment funds and financial markets.
• Strong analytical and problem-solving skills.
• Attention to detail and ability to interpret fund documentation and procedures.
• Effective written and verbal communication skills.
• Ability to manage multiple priorities and meet deadlines.

Responsibilities

• Perform Depositary oversight activities in accordance with procedures and regulatory requirements.
• Review fund activity and oversight outputs to identify exceptions, irregularities, breaches or emerging risks.
• Investigate exceptions and obtain supporting information from fund service providers and clients.
• Escalate issues promptly in accordance with internal escalation procedures.
• Support ongoing monitoring of investment, valuation, cash flow and safekeeping oversight controls.
• Support onboarding and ongoing due diligence reviews of Fund Management Companies, Administrators, Transfer Agents, Custodians and other delegates.
• Assist with preparation and completion of due diligence questionnaires and supporting analysis.
• Track due diligence findings and follow-up actions to completion.
• Assist in preparing due diligence reports and management information.
• Support ongoing assessment of regulatory developments impacting Depositary activities.
• Maintain awareness of UCITS, AIFMD and local regulatory requirements.
• Assist with risk assessments, oversight reviews and control monitoring activities.
• Contribute to the identification of emerging operational and regulatory risks.
• Respond to client and internal stakeholder queries in a timely and professional manner.
• Support preparation of client reporting, governance materials and committee papers.
• Build effective working relationships with internal stakeholders and external service providers.
• Participate in client and delegate meetings where appropriate.
• Ensure all activities are completed accurately and within agreed service levels.
• Maintain complete and auditable records of oversight activities.
• Identify opportunities to improve processes, controls and efficiency.
• Assist with implementation of regulatory and business change initiatives.

Skills

Investment funds

Financial markets

Analytical skills

Problem-solving

Attention to detail

Written communication

Verbal communication

Multitasking

Job description

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.

Role/ Department

The Depositary Analyst supports the delivery of Depositary oversight activities across a portfolio of investment funds. The role is responsible for performing monitoring, analysis, due diligence support, issue investigation and regulatory oversight activities in accordance with applicable regulatory requirements, internal procedures and Northern Trust standards. The Depositary Analyst works closely with Depositary Managers and Subject Matter Experts to ensure the Depositary fulfils its investor protection, oversight and safekeeping obligations while maintaining a strong control environment.

The Key Responsibilities Of The Role Include

The successful candidate will benefit from having:

Depositary Oversight

• Perform assigned Depositary oversight activities in accordance with documented procedures and regulatory requirements.
• Review fund activity and oversight outputs to identify exceptions, irregularities, breaches or emerging risks.
• Investigate exceptions and obtain supporting information from fund service providers and clients.
• Escalate issues promptly in accordance with internal escalation procedures.
• Support ongoing monitoring of investment, valuation, cash flow and safekeeping oversight controls.

Due Diligence and Delegate Oversight

• Support onboarding and ongoing due diligence reviews of Fund Management Companies, Administrators, Transfer Agents, Custodians and other delegates.
• Assist with preparation and completion of due diligence questionnaires and supporting analysis.
• Track due diligence findings and follow-up actions to completion.
• Assist in preparing due diligence reports and management information.

Regulatory Monitoring and Risk Assessment

• Support ongoing assessment of regulatory developments impacting Depositary activities.
• Maintain awareness of UCITS, AIFMD and local regulatory requirements.
• Assist with risk assessments, oversight reviews and control monitoring activities.
• Contribute to the identification of emerging operational and regulatory risks.

Client and Stakeholder Support

• Respond to client and internal stakeholder queries in a timely and professional manner.
• Support preparation of client reporting, governance materials and committee papers.
• Build effective working relationships with internal stakeholders and external service providers.
• Participate in client and delegate meetings where appropriate.

Quality and Continuous Improvement

• Ensure all activities are completed accurately and within agreed service levels.
• Maintain complete and auditable records of oversight activities.
• Identify opportunities to improve processes, controls and efficiency.
• Assist with implementation of regulatory and business change initiatives.

Skills/Qualifications

• Understanding of investment funds and financial markets.
• Strong analytical and problem-solving skills.
• Attention to detail and ability to interpret fund documentation and procedures.
• Effective written and verbal communication skills.
• Ability to manage multiple priorities and meet deadlines

Desirable

• Experience within Depositary, Fund Administration, Trustee, Custody, Asset Servicing or Asset Management.
• Knowledge of UCITS, AIFMD and relevant fund regulations.
• Experience supporting due diligence, risk management, control or oversight activities.
• Professional qualification or progress toward a relevant qualification

Work Authorization

Applicants must have the right to work in Ireland at the time of application and for the duration of employment. Please note that Northern Trust is unable to provide employment permit sponsorship for this role. This includes Critical Skills Employment Permits, General Employment Permits, Intra-Company Transfer Employment Permits, Stamp 1G permissions, and other employment permits under Irish immigration frameworks.

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 [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.