Analyst, Middle Office Derivatives, HFS
OTC Consultant, Northern Trust Hedge Fund Services
Founded in Chicago in 1889, Northern Trust is one of the world’s leading financial institutions. We specialise in providing asset servicing solutions and asset management to both institutional and personal clients. The delivery of products and services to this client base is supported through a network of offices around the globe.
Northern Trust Hedge Fund Services offers world-class, scalable technology and dedicated expertise to serve Hedge Funds and large Institutional Investors with complex portfolios and product types. The business provides comprehensive middle office and administration services, including trade processing, asset servicing, valuation and profit and loss reporting, cash and collateral management, reconciliations, accounting and NAV calculations and investor servicing and reporting.
The OTC Sr. Analyst is responsible for the verification, settlement, life cyclist is responsible for the affirmation/confirmation of all OTC trade types on electronic platforms and/or on paper as well as the completion of requested amendments related to all client OTC trade bookings.
- Affirmation/Confivent processing and break resolution related to all client OTC transactions. In addition, the Sr. Analrmation of all OTC trades on electronic platforms or on paper where required
- Manage the settlement of swap cash flows associated with OTC products, including unwinds, fees, resets, and premiums
- Assist in proper operational reflection of OTC trades
- Review booking of corporate actions and dividends/coupons to ensure accurate position and p/l attribution
- Efficiently identify and resolve transaction discrepancies between client and swap counterparties. Liaison between trading desk, control groups and counterparties to resolve any economic discrepancies on trades in a timely and efficient manner
- Process all aspects of periodic resets for vanilla and exotic IRS, CDS, and Equity OTC products
- Ensure timely receipt of OTC confirmations from trading counterparties
- Ensure accuracy of transaction agreements and modifications
- Work with IT in the development and enhancement of the trade management system
- Prioritize time accordingly to action trade breaks by end of day
- Understand and process trade activity in accordance with established operations policies and procedures; understand and minimize risk associated with trade mismatches
- Must be able to interact with coworkers and clients in a fast-paced trading environment.
- Should be intellectually curious, intuitive, and trustworthy and have the highest ethical standards
- Effectively address a number of internal and external audiences in a professional manner
- Assist in the training of personal internationally
- Perform other related duties as required
- Bachelor’s degree strongly preferred
- Two plus years of experience in OTC structured and derivatives products operations including:
- Experience with the settlement of OTC structured and derivatives products
- Experience reviewing documentation for OTC structured and derivatives products
- Proficiency with DS Match, MarkitWire/MarkitTradeManager, and eConfirm platforms preferred
- Excellent people skills; ability to dynamically act as knowledgeable point of reference to co-workers domestically and internationally
- Proficiency in Microsoft Word, Excel (ability to create macros)
- Excellent math and analytical skills
- Excellent written and oral communication skills
- Strong organization skills, meticulous attention to detail.
- Ability to handle multiple tasks under extremely time sensitive conditions
- Understanding of the various transaction types within each asset class beyond ‘vanilla’ trades is preferred (e.g. for IRS, understanding of caps, floors, swaptions, etc. and for CDS, understanding of tranches, recovery swaps, ABS/X, etc.)
- Understanding of established guidelines and documents published by ISDA is helpful
- OTC Regulatory knowledge across Dodd Frank, EMIR, ASIC, MAS
The successful candidate will be a mature self-starter who has demonstrated the ability to function independently in a fast-paced, dynamic and demanding environment. This person needs to be able to resolve conflict within a short period of time. This person will be intellectually curious, intuitive, trustworthy and have the highest ethical standards. In addition, he/she will be effective addressing a number of internal and external audiences in a professional manner. This person will add value by working on a number of simultaneous tasks with minimal supervision and exemplary follow-through
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.
For further information, and to apply, please visit our website via the “Apply” button below.