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Responsible for verification, settlement, and life cycle event processing related to client transactions. The Middle Office Asset Servicing function is responsible for security master management, corporate actions and entitlement tracking, OTC derivatives, fixed income and foreign exchange trade processing, trade capture, clearing and settlement, end of day trade match, trade fail management, expiration services and break resolution.
Affirms OTC trades from prior trade date.
Ensures timely receipt of electronic-based OTC confirmations from trading counterparties.
Ensures accuracy of transaction agreements and modifications.
Assists swap confirmation team in covering all OTC products such as total return swaps, equity options, structured equity products, convertible bond options, credit defaults and fixed income products.
Manages the settlement of swap cash flows associated with OTC products, including unwinds, quarterly fees, resets, and premiums
Assists in proper operational reflection of OTC trades
Reviews booking of corporate actions and dividends/coupons to ensure it affects the position properly.
Assist in developing and implementing projects and software which promote automation and efficiency as well as work with IT in the development/enhancement of trade entry.
Efficiently identifies and resolves transaction discrepancies between firm and swap counterparties.
Processes all aspects of periodic resets for vanilla and exotic IRS, CDS, and TRS products.
Assists in the training of staff globally.
Operates independently; has in-depth knowledge of business unit / function
As subject area expert, provides comprehensive, in-depth consulting and leadership to team and partners at a high technical level
Carries out activities that are large in scope, cross-functional and technically difficult
Role is balanced between high level operational execution and development, and execution of strategic direction of business function activities
Strategic in developing, implementing and administering programs within functional areas
OTC Derivatives product knowledge and experience
Excellent oral and written communication skills are required
Strong Excel knowlege and skills
In-depth Functional / Industry Knowledge is required
Highly flexible and adaptable to change
Technical skills / systems knowledge (e.g. PeopleSoft) is required
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
As of June 30, 2017, Northern Trust Corporation had:
$126 billion in banking assets
$7.4 trillion in assets under custody
$9.3 trillion in assets under custody/administration