Sr. Analyst, Csh & Cltrl Svc, IPS

The Northern Trust Company; Chicago (IL); On-site; USD 53,000 - 79,000; Full time

Benefits offered by this job

401k and pension

Health benefits

Paid time off

Parental and caregiver leave

Discretionary bonus

Job summary

Northern Trust is seeking a Collateral Management professional in Chicago to manage daily margin activities across OTC, Repo and Futures for Middle Office clients.

You will lead client onboarding, review collateral terms per ISDA/GMRA, and work with IT to enhance collateral management solutions. Strong communication skills and 1–3+ years in collateral are expected.

Qualifications

• 1-3+ years of work experience with direct experience in Collateral Management.
• Experience in project management and client interaction.
• Understanding of basic accounting principles and procedures.
• Familiarity with Hedge Fund structures, products and financial instruments.
• Excellent written and oral communication skills.

Responsibilities

• Manage the daily margin process across OTC, Repo and Futures for Middle Office clients.
• Lead key client implementations to onboard Collateral clients in accordance with our SLA.
• Review and setup of client collateral terms based upon ISDA, GMRA or similar docs.
• Determine eligible securities for use in agreeing collateral demands; administer process to deliver and exchange securities.
• Direct month-end collateral interest process from reconciliation to settlement.
• Utilize TriResolve to develop, provide and publish collateral reports to clients.
• Oversee margin reconciliations and resolution of breaks through TriResolve platform.
• Work closely with Clients, business development, business owners and SMEs to help capture and formalize client requirements.
• Support expanded development of the collateral management offering to expose additional solutions to our clients through technology.
• Effectively communicate with IT to test and implement development of collateral management offering.
• Liaise directly with clients during onboarding and establish connectivity with their counterparties.
• Communicate effectively with team members, internal groups and external counterparties.
• Accurately define business requirements for IT projects and enhancements for the cash and collateral management team.

Skills

Collateral management

Project management

Client interaction

Accounting principles

Hedge funds

Communication skills

Education

Bachelor's degree

MBA

CPA or CFA

Tools

TriResolve

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.

Overview

The successful candidate is a mature self-starter with an entrepreneurial spirit and team focus and is able to function independently in a fast-paced, dynamic and demanding environment. This person is proactive in resolving conflict and demonstrates exemplary follow-through. He/she adds value by working on a number of simultaneous tasks/projects with minimal supervision while paying special attention to detail. The ideal candidate is an effective communicator and works well with clients and partner areas. A familiarity across Futures, OTC, Repo and PB margin is desired.

Responsibilities

• Manage the daily margin process across OTC (bilateral and centrally cleared), Repo and Futures for Middle Office clients. This includes: issuing and responding to calls in accordance with notification times, investigating exceptions and escalating disputes as agreed with clients. Respond quickly and accurately to requests in a high volume, time sensitive trading environment.
• Lead key client implementations to onboard Collateral clients in accordance with our SLA; manage the client engagement to highlight our service level, key controls and dependencies while identifying key client deliverables, notifications and any bespoke requests that require investigation.
• Review and setup of client collateral terms based upon ISDA, GMRA or similar docs.
• Determine eligible securities for use in agreeing collateral demands; administer process to deliver and exchange securities in accordance with client's eligibility rules. Process cash and securities transactions through internal systems and track for settlement or handling post-settlement.
• Direct month-end collateral interest process from reconciliation to settlement.
• Utilize TriResolve to develop, provide and publish collateral reports to clients.
• Oversee margin reconciliations and resolution of breaks through TriResolve platform; work with clients, counterparties and internal partners to resolve disputes and reconciliations.
• Work closely with Clients, business development, business owners and SMEs to help capture and formalize client requirements
• Support expanded development of the collateral management offering to expose additional solutions to our clients through technology. Prioritize development based upon market needs, client feedback and workflow demands.
• Effectively communicate with IT to test and implement development of collateral management offering.
• Liaise directly with clients during onboarding and establish connectivity with their counterparties. Administer account implementation process and effectively communicate status to internal partner areas.
• Communicate effectively with team members, internal groups and external counterparties
• Accurately define business requirements for IT projects and enhancements for the cash and collateral management team.

Qualifications

Desired

• 1-3+ years of work experience with direct experience in Collateral Management
• Experience in project management and client interaction
• Understanding of basic accounting principles and procedures
• Familiarity with Hedge Fund structures, products and financial instruments
• Excellent written and oral communication skills

Required

• Education
• Bachelor's degree is required; MBA, CPA or CFA is desired

Salary Range

$52,800 - 79,200 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.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, wh