Sr Analyst, OTC - Hedge Fund Accounting

About Northern Trust:

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.

Role

The job requires working for a Global Hedge Fund Administrator, specializing in administering assets of complex hedge funds. This individual will have a strong technical Accounting background; experience working within the Financial Services industry. The position involves performing daily reconciliation of transactions, security positions and cash for all trading activity generated by clients.

Major Duties

• Confirmation of all OTC trades on electronic platforms or on paper (scanned) where required.
• Manage the settlement of swap cash flows associated with OTC products, including unwinds, quarterly fees, resets, and premiums
• Process all aspects of periodic resets for IRS, CDS, and TRS products
• Liaison between trading desk, reconciliation and control group, and counterparties to resolve any economic discrepancies on trades in timely, efficient manner.
• Ensure timely receipt of OTC confirmations from trading counterparties.
• Ensure accuracy of transaction agreements and modifications.
• Liaison between trading desk, counterparties and legal department to resolve any legal language discrepancies on OTC trade confirmations.
• Assist swap confirmation team in covering all OTC products such as total return swaps, equity options, credit defaults, convertible bond options and fixed income products.
• Assist swap confirmation team in developing and implementing projects and software which promote automation and efficiency.
• Understanding and managing settlement of swap cash flows associated with OTC products, including upfront fee, unwinds, quarterly premium and resets
• Analyze key economic breaks (affirmation) and key discrepancies (confirmation)
• Understand and minimize risk associated with trade mismatches.
• Prioritize time accordingly to action trade breaks by end of day
• Understand and process trade activity in accordance with established operations policies and procedures
• Review booking of corporate actions and dividends/coupons to ensure it affects the position and p/l properly

Accountabilities

• Employees are required to comply with the regulatory regime in which Northern Trust operates as appropriate to the above role
• Employees are expected to exercise due care and diligence, ensuring the areas the incumbent is responsible for are organised and controlled
• Employees are required to observe proper standards of market, business and personal conduct, demonstrating integrity in the execution of duties
• Reports to TL/ Section Manager

Skills

• Approachable and able to promote teamwork through creative solutions
• Good analytical, numerical and reasoning skills
• Time management and delegation skills
• Deep understanding of process and process improvement
• Excellent/advanced knowledge of Excel with VBA experience being a plus; should be familiar with MS Word & Office tools.
• Excellent English, grammar, written and oral communication skills
• Adaptive, flexible style with the ability to work in a dynamic, fast-paced environment

Qualifications:

• A minimum of 2+ years of experience in Financial Services environment, preferably, OTC affirmation and settlement process.
• Experience with Hedge Funds, Investment Management and/or Financial Services strongly preferred.

• Bachelor’s degree with emphasis in Accounting, Finance or a quantitative discipline.  Masters’ degree would be an advantage.
• Business exposure to Equity or Credit or at least some complex derivative products like CDS, IRS, TRS & other OTC products.
• Good understanding of DTCC, MTM and ICE Clearing platforms.

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 MyHRHelp@ntrs.com.

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.