Manager, Derivatives

About Northern Trust:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With over 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

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 that is committed to strengthening the communities we serve!

We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why we are honored to receive the following awards in 2021:

• Gender Equality Index Member, Bloomberg
• Top Financial & Banking Company, Black EOE Journal, Hispanic Network Magazine, Professional WOMAN'S Magazine

We’d love to learn more about how your interests and experience could be a fit with one of America’s best banks and most sustainable companies! Build your career with us and apply today.

Role: Section Manager reporting to Operations/Division Manager

The key responsibilities of the role include:

Process Management

• Supervise team working responsible for Collateral Management for global derivatives practice
• CSA documentation and static setup according to legal language
• Daily margin call pledging, processing and market settlement
• Exception and Dispute Management,
• Client reporting and engagement

• Ensure transactions are efficiently supported and ensure seamless day-to-day processing
• Taking ownership for all the deliverables being sent out by the team with proper review checks
• As derivatives SME, provides comprehensive, in-depth consulting and leadership to team and partners at a high technical level
• Maximize the teams operational efficiency and strong process controls by monitoring workflow distribution and managing the allocation of resources within the team
• Implement consistent best practice and monitor the standards as agreed by global operating models
• Determines staffing needs, including hiring and performance improvement decisions, handles salary administration, and ensures resources are available to accomplish priorities

Team Management

• Conducts the performance management process, identifies training and development needs, and establishes performance standards for the unit including business objectives
• Coaching and mentoring to create strong leadership pipeline and cross-training within team
• Steer the implementation of the business plan, short-term and long-term projects as per client and market requirement

Risk Management

• Understand operational risk and how to mitigate it
• Employees are required to comply with the regulatory regime in which Northern Trust operates as appropriate to the above role
• Employees are expected to exercise due care and diligence, ensuring the areas the incumbent is responsible for are organized and controlled
• Employees are required to observe proper standards of market, business and personal conduct, demonstrating integrity in the execution of duties

Skills/ Qualifications:

• Extensive knowledge/experience in financial markets, Derivatives products, global markets cut-offs and market settlement is required. Good to have current / past experience of collateral management process
• Strong understanding of regulatory reporting, upcoming UMR phases and other regulatory requirements in Derivatives space
• Role requires managing a team working 24*5, candidate should be flexible working in any shift as per the process/team requirements
• Interpersonal (relationship builder, respectful, resolves problems, people friendly and organizational savvy)
• Communication (presentation skills, listening skills, oral communication skills, allows others to express themselves and written communication skills)
• Self-management (adaptability and resilience, learning behavior, integrity and ethics and relationship builder)
• Motivation (performance standards, achieving results and persistent)
• Client Service and Quality (quality, relationship building and client satisfaction)
• Administration (anticipates needs, execution, planning, process specialist, quality seeker and time management)

Experience

Minimum Qualifications (Education, Experience, Skills)

• Candidate to have 10+ years’ experience in related industry ( Derivatives operations, Accounting, Finance, Valuations, Capital markets, Custody) with 3+ years into people management.
• Minimum experience of 3 years in managing teams
• Graduate in Accounting / Economics. Additional qualification in accounting / finance preferred (e.g., CA/ CS/ CWA/CFA/ MBA)

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