Sr Consltnt, Csh&Coll Svc, HFS

Chicago, Illinois, United States
20 May 2022
20 Jun 2022
Contract type
Full time
Experience level
Qualified accountant

Responsible for managing the various daily processing of cash flow requests by third party Hedge Fund Services clients. The Cash and Collateral Services function is responsible for OTC collateral management and wire execution.

  1. Manages the daily processing of cash flow requests by 3rd party clients. This includes ensuring all required approvals have occurred, executing payments per authorized instruction, confirming payments have been made, posting all cash related transactions as instructed by the client and assisting in the resolution of any issues related to payments made on behalf of clients.
  2. Oversees and processes 3rd party investor subscriptions and redemptions and the subsequent movement of cash to the client's desired location.
  3. Serves as a liaison to Investor Services on all new subscriptions prior to effecting cash to the appropriate location.
  4. Assists in the development of a scalable, controlled and transparent cash processing work flow for all 3rd party cash activity including investor redemptions/subscriptions, margin/collateral movements and swap cash flows. Work directly with IT to test and implement this framework.
  5. Supports development of an expanded cash management offering to expose additional cash management solutions to our clients through technology. Provides feedback into cash management system based upon market place needs, client feedback and workflow improvement. Works directly with IT to develop, test and implement this framework.
  6. Liaise directly with clients to onboard new clients and establish banking connectivity and solutions that will meet their cash management needs. Administer account implementation processes and effectively communicates status to internal partner areas.
  7. Coordinates connectivity with client's banks through SWIFT
  8. Identifies potential cash and collateral management service offerings that would complement HFS offering.
  9. Works with clients to resolve cash breaks and issues related to wire payments.
  10. Accurately defines business requirements for IT projects and enhancements for the cash and collateral management team.
  11. Operates independently; has in-depth knowledge of business unit / function
  12. As subject area expert, provides comprehensive, in-depth consulting and leadership to team and partners at a high technical level
  13. Carries out activities that are large in scope, cross-functional and technically difficult

A College or University degree and/or relevant proven work experience is preferred. Related Industry qualification (e.g. ACCA) is preferred. Excellent oral and written communication skills are required. In-depth Functional / Industry Knowledge is required. Highly flexible and adaptable to change. Technical skills / systems knowledge is required.

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.

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

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