Associate Specialist, Middle Office, Trade Support, Omnium Services

Middle Office Asset Servicing

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

Job Description Summary

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.

Job Description

Major Duties:

• 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.

Knowledge:

• Excellent oral and written communication skills are required.
• In-depth Functional / Industry Knowledge is required.
• Highly flexible and adaptable to change.
• Technical skills / systems knowledge (e.g. Peoplesoft) is required.

Experience:

• A College or University degree and/or relevant proven work experience is preferred.
• Related Industry qualification (e.g. ACCA) is preferred

Salary Range:

$95,600 - 162,400 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

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 sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at View email address on click.appcast.io.

We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.