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About The Role: To work in th e Depositary Property team reporting to a manager. The role requires the performance of the Depositary's duties in respect of Irish authorised funds. The Depositary ensures that each property fund is managed and operationally structured in accordance with the Central Bank of Ireland regulations and the fund's constitutional documentation. In addition, the Depositary will be required to ensure that funds are managed in accordance with local market regulations.
The role will include but will and not be limited to, client management, board reporting, the approval of property transactions, the maintenance of the property database, monitoring compliance with investment restrictions, engaging with regulators and audit firms, producing accurate MI reporting, assisting in Depositary projects and initiatives and supporting new business.
The successful candidate will report to a section manager helping to identify and develop process improvements and optimise effectiveness within the group and across the department.
The role would suit an individual with funds experience, strong communication skill, an analytical focus and an interest in developing their knowledge of Depositary Services.
Why choose a career in Depositary with Northern Trust:
Northern Trust is committed to the Depositary business and now offers depositary services in 5 key European locations.
Northern Trust's strategic commitment to depositary services in Ireland has seen the team grow to over 100 partners split between Dublin & Limerick.
The Depositary business in Ireland service clients with various asset classes and have a variety of investment strategies including real estate, complex derivative instruments, long short strategies, emerging markets, SPVs etc.
We invest heavily in our people and offer a customised, individually dedicated training program to ensure our people can realise their full potential.
To complement the company culture, we support our employees' efforts to balance work and home life, in part by offering family-friendly programs and alternative/flexible work situations.
Principal Responsibilities: Client Management
Work with their manager as the point of contact for clients and internal partners for an allocation of property clients.
Responsible for servicing clients in accordance with client's SLD, this includes the timely escalation of issues.
Join your manager in presenting the Depositary's quarterly client board report.
Support the client due diligence visits for allocated clients.
Participate in ad-hoc client meetings/calls.
Review fund documentation from a Depositary perspective, i.e. prospectus /supplements /RMP /Valuation Policies and SLD.
Investment Compliance Monitoring
Perform periodic investment restriction reviews.
Investigate breaches and communicate to fund promoter / investment manager.
Update the regulatory breaches register.
Ensure prompt response to client & internal queries.
Reporting & Data Management
Complete monthly/quarterly client reports.
Complete and monitor fund risk assessment reporting.
Update and maintain the regulatory breaches & error registers.
Report investment breaches to investment managers, fund boards and the CBI, as required.
Report material price errors to fund boards and the CBI as required.
On - site inspections Assist in the completion of the Real Estate and Infrastructure annual on - site inspection.
Work on team projects (e.g. new regulations and process improvements)
Ability to identify risks and escalate appropriately to the management team.
Skills / Experience Required:
Ability to work within a team structure.
Ability to work on own initiative.
Strong communication, problem solving and time management skills.
Relevant fund industry experience.
About Northern Trust: 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 18,100 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.
Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion.
As of June 30, 2018, Northern Trust Corporation had:
$135 billion in banking assets
$8.1 trillion in assets under custody
$10.7 trillion in assets under custody/administration
$1.1 trillion in assets under management
Internal Number: 5507205
About Northern Trust
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