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DEPARTMENT OVERVIEW: The Derivatives Investment Outsourcing Operations department provides middle and back office operational support to investment management clients, across a wide range of Exchange Traded and Over the Counter products. The team's responsibilities include trade capture, trade affirmation / confirmation, trade settlement, margin calculation, margin settlement and all associated reconciliations.
ABOUT THE ROLE: Northern Trust is currently recruiting a Team Leader to join our growing team. This is an exciting opportunity to join a 'best in class' operation at the heart of our business. We are particularly interested in candidates with previous experience in Derivative Operations although we are also keen to hear from candidates who believe they have a transferable skillset. These include exemplary client service skills and proven leadership capabilities.
-Process large and variable volumes of Confirmations and Settlements accurately whilst consistently meeting external and internal deadlines -Monitoring and agreement of cash payments with market counterparties -Processing of novations and client transitions -Ensuring all tasks are completed according to client SLA's and regulatory deadlines -Ensure daily, weekly and monthly MIS completed in a timely manner -Collation of regulatory reporting for distribution to clients -Monitoring performance of counterparties and providing feedback to clients, participating in regular service review sessions -Identify issues and pursue to resolution; prioritise and escalate according to risk -Conducting root cause analysis into the reasons for Confirmation and Settlements turnaround failing to meet regulatory standards -Adapt positively to change and adversity
INDIVIDUAL RESPONSIBILITIES: -Team organisation: Ability to lead, manage and motivate a team. Ensure all team duties are completed accurately and according to internal, market and client-driven deadlines; delegation of work and organise cross-training accordingly -Team development: Identify areas for improvement; deliver performance assessments; address non-performance and celebrate great work in a timely manner -Client focus: Deliver and drive a high quality service to clients, work effectively with internal and external clients to understand their requirements and ensure to maintain SLAs and KPIs and update as necessary C-ontrol focus: Identify and develop improvements to the control process. Ensure that procedures are maintained regularly; ensure that controls are adhered to and evidenced daily; complete required Control and Risk MI -Continuous improvement: Produce business, productivity and quality metrics; review and improve processes through training and tactical/strategic initiatives -Technology risk: Identify potential system enhancements and build appropriate business cases, maintain log of issues caused by systems and escalate appropriately to resolve -New business: Liaise with relevant internal and external parties in relation to new product and new client assessment -Manage change: ensure all project commitments are met; review project documentation and complete testing; support technology release weekends -Excellence in execution: Promote best practice and share ideas with equivalent teams globally
PRODUCTS COVERED INCLUDE: The team is responsible for processing products across the whole OTC range: -Rates: IRS, Zero Coupon Swaps, OIS, Basis Swaps, Inflation Swaps, TRS, Asset Swaps, XCCY Swaps, Swaptions -Credit: Default Swaps - Single Name and Index; Swaptions -Equity: CFDs; Swaps - Single Name and Index; Options - Single Name, Index, Basket; -FX: Options - Vanilla and Exotic -Commodities: Index Swaps
SKILLS/ REQUIREMENTS REQUIRED:
-Investment Industry experience would be an advantage, as would Derivative experience -Experience in Performance Review: providing positive and negative feedback. -Proven ability to lead, manage and motivate a team -Strong communication and problem-solving skills. -Excellent attention to detail. -Ability to plan work in a structured pattern, setting priorities and meeting deadlines. -Strong desktop, IT and systems skills. -Proven client servicing skills
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.
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 Forbes ranked us the top employer for Diversity in 2018.
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. Build your career with us and apply today.