Specialist, Middle Office, Asset Servicing, HFS

Northern Trust; Chicago (IL); On-site; USD 114,700 - 194,900; Full time

Benefits offered by this job

Comprehensive benefits package

401k and pension

Paid time off

Job summary

A leading financial institution in Chicago is seeking a Specialist in Middle Office Asset Servicing. This role involves managing complex transaction processes related to client transactions in a collaborative environment. The ideal candidate should possess strong communication skills and in-depth industry knowledge, with a focus on improving operational efficiency. Join a workplace committed to service and integrity, offering a competitive salary and comprehensive benefits.

Qualifications

• Responsibilities for verification, settlement, and life cycle event processing.
• Affirms OTC trades from prior trade date.
• Ensures timely receipt of electronic OTC confirmations.

Responsibilities

• Assists in training staff globally.
• Manages settlement of swap cash flows.
• Displays a balanced, cross-functional perspective to improve efficiency.

Skills

Excellent Oral And Written Communication Skills

In-depth Functional / Industry Knowledge

Technical skills / systems knowledge

Highly flexible and adaptable to change

Education

College or University degree

Related Industry qualification (e.g. ACCA)

Job description

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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.

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.

• Seasoned multi-disciplinary expert with extensive technical and/or business knowledge and functional expertise of the Middle Office Asset Servicing function with Hedge Fund Services. Responsible for verification, settlement, and life cycle event processing related to client transactions. The Middle Office Asset Servicing function is responsible for security master management, corporate actions and entitlement tracking, OTC derivatives, fixed income and foreign exchange trade processing, trade capture, clearing and settlement, end of day trade match, trade fail management, expiration services and break resolution. Carries out the most complex initiatives involving multiple disciplines and/or ambiguous issues. Consistently displays a balanced, cross-functional perspective, liaising with the rest of the business to improve efficiency, effectiveness and productivity
• Major Duties: :
• Seasoned multi-disciplinary expert with extensive technical and business knowledge and functional expertise.
• Affirms OTC trades from prior trade date.
• Ensures timely receipt of electronic-based OTC confirmations from trading counterparties.
• Ensures accuracy of transaction agreements and modifications.
• Assists swap confirmation team in covering all OTC products such as total return swaps, equity options, structured equity products, convertible bond options, credit defaults and fixed income products.
• Manages the settlement of swap cash flows associated with OTC products, including unwinds, quarterly fees, resets, and premiums
• Assists in proper operational reflection of OTC trades
• Reviews booking of corporate actions and dividends/coupons to ensure it affects the position properly.
• Assist in developing and implementing projects and software which promote automation and efficiency as well as work with IT in the development/enhancement of trade entry.
• Efficiently identifies and resolves transaction discrepancies between firm and swap counterparties.
• Processes all aspects of periodic resets for vanilla and exotic IRS, CDS, and TRS products.
• Assists in the training of staff globally.
• Focus of role is on execution of strategic direction of business function activities.
• Carries out complex initiatives involving multiple disciplines and/or ambiguous issues.
• Displays a balanced, cross-functional perspective, liaising with the business to improve efficiency, effectiveness and productivity.
  
  

Knowledge

Excellent Oral And Written Communication Skills Are Required

In-depth Functional / Industry Knowledge is required

Highly flexible and adaptable to change

Experience

Technical skills / systems knowledge is required

A College or University degree and/or relevant proven work experience is preferred. Related Industry qualification (e.g. ACCA) is preferred

Salary Range

$114,700 - 194,900 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

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. #MadeForGreater

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.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

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