Associate Specialist

Northern Trust
Chicago, USA
Feb 07, 2021
Mar 06, 2021
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Assoc Specialist. Custody Settlement, AFS New    74962 Requisition #    1 day ago Post Date
Summary: The job involves leading a team working for Northern Trust Hedge Fund Services, a Global fund administrator, specializing in administering assets of complex hedge funds. The position requires good experience and back ground in financial markets and back office functions

Key Duties and Responsibilities:

• Minimum 5 years' experience with day to day functions of middle office, clearing/settlements

• Perform and oversee all processes related to daily trade break resolution for all listed products - equities, corporate bonds, government bonds, mortgage securities, warrants, Repurchase agreements (Repo) etc.

• Liaison between clients' trading desks, clearing brokers, exchanges and counterparties to ensure efficient resolution of breaks and open reconciling items to guarantee timely settlement.

• Monitor trade posting process and upload trades to clearing brokers via SWIFT or otherwise

• Resolve fails with Prime Brokers after settlement date, by working with counterparties to facilitate delivery

• Work with Client On-boarding team to facilitate transition from startup to parallel testing to live production for new fund administration clients.

• Train new hires on systems, processes and procedures

• Cross train with other areas within Custody Settlements.

• At the direction of senior management, responsible for the successful implementation and interpretation of plans, policies and procedures for operations business.

• Perform other related duties as required.

Minimum Qualifications (Education, Experience, Skills):

• Experience in exchange traded securities settlement operations preferred, but not required.

• Knowledge of basic accounting principles and procedures, thorough understanding of financial markets and instruments as well as the settlement of them

• Experience managing direct reports

• Proficiency in Excel and Microsoft Word (or related software), and experience with working in a database.

• Experience in setting trades in DTC and other major markets, OASYS Global and Central Trade Manager Applications preferred

• Excellent English, grammar, written and oral communication skills

• Strong knowledge of settlement procedures, financial markets and instruments preferred.


• Bachelors degree required

• CFA (or similar certification) an advantage, but not required.

Physical Demands and Work Environment: Must be able to interact and communicate with co-workers in a clear, thorough and concise manner. Work environment and physical demands are those normally associated with office work, including frequent use of the computer and telephone. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential job functions unless those accommodations would impose an undue hardship or constitute a direct threat

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