Collateral-Middle Office, Hedge Fund Services

Chicago, Illinois, United States
04 Oct 2022
04 Nov 2022
Contract type
Full time
Experience level
Qualified accountant


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 required.


  • Support the daily margin process across OTC, Repo and Futures. 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.
  • Review and setup of client collateral terms found in ISDA, GMRA or similar docs.
  • Initiate collateral payments in accordance with controls, manage settlement instructions and track payments through settlement.
  • 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.
  • Resolve breaks for any settlement issues related to collateral activity.
  • 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.
  • 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.


  • 2-6 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
  • Bachelor’s degree is required; MBA, CPA or CFA is desired

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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