Depositary Senior Analyst, Alternatives

01 Jul 2022
26 Jul 2022
Contract type
Full time
Experience level
Qualified accountant

About Northern Trust:

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

As a Northern Trust employee (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.

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you would benefit from adjustments for any part of the employment process, please inform the recruiter to discuss your individual requirements.

We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why Forbes ranked us the top employer for Diversity in 2018.


As Senior Depositary Analyst – Alternatives, you will be a key member of the Northern Trust Global Services SE (NTGS SE) Luxembourg Depositary providing technical, monitoring and operational support and day-to-day contacts with our Alternative Investment Funds clients. The role involves technical coordination and regulatory oversight of operational monitoring programmes. There will be periodic involvement with other jurisdictions and projects to ensure the seamless delivery of operational support of NTGS SE Luxembourg Depositary clients.

Principal responsibilities:

  • Ensure all Depositary requirements are met and escalate any issues where appropriate to management
  • Work with the Depositary Managers and EMEA Product Development to ensure that all client technical advisory requirements are anticipated, responded to and validated
  • Ensure that any information relating to the client is disseminated with clarity and efficiency
  • Identify and act upon and opportunities to improve operating processes
  • Assist with the implementation of Depositary new business and client change
  • Monitor and report on the effectiveness of the operational output from delegates and/or third party service providers
  • Provide management information and risk reporting specific to Depositary Real Estate clients
  • Support in relevant Depositary governance forums
  • Build relationships with clients, identifying opportunities to enhance service, delivering on Depositary duties
  • Keep up to date with internal and external market developments in the Regulatory field, specifically for the Real Estate asset sector
  • Ensure that all SLD requirements are monitored and met
  • Supervise daily, weekly and monthly checks of the depositary function for alternative investment funds
  • Liaise with and assist on operational and technical queries internal and external parties relating to Depositary services for alternative investment fund business
  • Maintain and update operational procedures in line with expected risk requirements
  • Provide local support for all on-boarding initiatives
  • Be a team player and strong leadership skills, able to multi-task and work with due skill and attention to accuracy


  • solid understanding of the Depositary processes in relation to the alternative funds business in particular Real Estate.
  • sound understanding of change and the ability to transition and on-board client relationships
  • Proven knowledge of financial services regulations specifically in Luxembourg, EU and the US
  • effective verbal, presentation and written communications skills;
  • the ability to adapt to and fit in with the Northern Trust culture;
  • a ‘can do’ attitude – including a willingness to tackle a broad range of work and to work enthusiastically within a team
  • the ability to work under pressure and to represent Northern Trust professionally and positively, both internally and externally
  • personal confidence and flexibility to undertake the variety of tasks required to build out the proposition and win and support client mandates
  • good training skills and the ability to mentor and educate new members of the team
  • Fluent in English language, other EU languages would be an advantage


  • Experience in a Depositary, Custodian, ManCo/AIFM or Fund servicing role pertaining to Real Estate assets.
  • Proven experience with Luxembourg UCIs, understanding and applying regulatory regimes of the AIFM and UCITS directives.
  • Proven client service experience


  • University degree or equivalent in accounting, economics or finance
  • Strong understanding of Alternative Investment Funds, specifically those investing in Real Estate assets.

Core competencies:

  • Client Focussed - Excellence in Execution - Effective Communication – Personal Courage – NT Savvy – Innovative - Diversity, Inclusion & Respect

Working with Us:

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 ethical companies. In return, we will support you with your personal and career goals in a number of ways:

Financial – Life Assurance, Disability Plan, Pension/ Gratuity, Annual Pay Review

Work life balance – Flexible Work Options, Incremental Annual Leave, Community Volunteer Days

Health & wellbeing – Active Sports & Social clubs (lunchtime and after-work groups), Employee Assistance Program

Professional development – Clear Career Path, Education Assistance, Recognition Programme, NT University (wide range of online, virtual & in-house training options) and employee-led Business Resource Councils dedicated to diversity and inclusion initiatives.

And finally

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.

As Northern Trust is a financial organisation, all new employees will be required to undergo a criminal record check.

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

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