Who we are
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.
What we do
Northern Trust's international business has grown dramatically over the last decade. Some of our largest clients are located in Asia and Australia, which represents a rapidly growing client base for the company. Since 1986, we have been serving clients in Asia-Pacific (APAC), including corporate pension funds, investment managers, insurance companies, government agencies, family offices and corporations. Our intricate understanding of the region allows us to provide unique insights and strategic perspectives to our clients. Currently, we have client offices in Beijing, Hong Kong, Melbourne, Singapore, Seoul, Tokyo and Kuala Lumpur.
Summary
The role is required to lead and provide oversight to a functional team within the evolving APAC Cash Operating Model. The primary focus of this role will be Intraday Liquidity (IDL), initially focused on the AUD flows. However, due to the integrated nature of Northern Trust's (NT) Cash Operating model the candidate will be required at times to cover elements of Payments Operations, Cash Management and Treasury Middle Office too.
The role will be responsible for the liquidity management of our account with the Reserve Bank of Australia. This will primarily include actively monitoring payment flows and ensuring sufficient liquidity is available for payments and other obligations. The role will be working closely to support our Treasury front office activity and work with both internal/external parties on a daily basis.
You will be required to build and maintain operational control processes of the operating group in accordance with the highest standards and best practices. You will test controls and measures to identify excessive operational risk and/or control problems at an early stage and works with staff to maintain quality and efficiency standards. Works cross-functionally with other staff to maintain highly efficient operational processes that avoid control and quality deficiencies and associated monetary losses.
What you will do
- Oversight and decisioning on client cut-off.
- Maintains regular contact with peers internal and external to firm, including regulators and other financial institutions.
- Treasury projections (daily)
- Flow control: Time Sensitive Operations (TSO), stress management, optimise payment flows.
- Intraday position info to Treasury.
- RITS GUI monitoring
- Austraclear GUI monitoring
- Global intraday process/strategy link.
- Manage payment flow via the LQM tool throughout the day
- Ensure sufficient liquidity for payments in RITS
- Liaise and escalate issues with Treasury front office on the management of the RBA account
- Liquidity and Balance sheet forecasting
- Analyse and recommend Bi Lateral limits
- Monitor and review intraday Bi Lateral limits and adjust accordingly
- Review payment flow values in RITS and manage intraday throughput
- Monitor of Austraclear positions and make arrangements for the necessary funding
- Co -ordination with counterparts and contact person for other RITS participants
- Arrange the remittance of the BECS transfer
- Identify potential liquidity issues and liaise with internal and external parties
- Keeping abreast with developments within banking environment/liquidity/throughput and regulatory developments bringing insights that support new product development.
- Assist in the preparation of monthly reports to Senior internal partners as well as regulators
- Follow-up with internal partners trends in cash discrepancies.
- Management Reporting.
- Works cross-functionally with other partners to create highly efficient operational processes that avoid control and quality deficiencies and associated monetary losses and/or reputational damage.
Your Knowledge/Skills
- Requires strong management skills and practical experience of managing multi-faceted teams within an IDL environment.
- In-market experience gained through working within the Australian Banking network and/or NT delivery experience, in addition to exposure to regulators is desirable.
- Strong understanding of AUD clearing, specifically High Value Clearing System (HVCS) and Austraclear including the management of and Exchange Settlement Account (ESA)
- Prior knowledge and experience of working, ideally leading/managing, IDL activities within a direct clearer bank in Australia.
- Good understanding of payments and banking regulations within Australia, and more globally in relation to IDL, whilst also being aware of key payments/funds transfers regulations and market practices.
- Proven experience of interfacing with multiple teams internal and external on complex payments transformation programs
- Proven ability to resolve complex problems using strong negotiation, influencing and escalation methods.
- Practical experience in leading Cash teams both on and off-shore.
- Excellent understanding of IDL activities within an overall Cash ecosystem.
As of June 30, 2018, Northern Trust Corporation had:
- $10.7 trillion in assets under custody/administration
- $8.1 trillion in assets under custody
- $1.1 trillion in assets under management
- $135 billion in banking assets
Northern Trust is an equal opportunity employer. We aim for excellence in our efforts to recruit, develop and deploy the highest caliber workforce. Our commitment and success to a diverse workforce is evident in employee satisfaction and industry acknowledgment. For a list of all our achievements please click here .
The closing date to apply for this role is 20 th August 2018 and we will be in touch with an update within two weeks.
For a private discussion please contact Gez Williams on +61 3 9935 8204.
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