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Senior Consultant Opertations

Northern Trust
Pune, India
Closing date
Jun 6, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
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.

Working Model:
We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Role/ Department:

The Global Derivatives Practice (GDP) provides asset servicing and middle and back office services to clients and investment managers trading in Derivatives products. The services supported by GDP include trade capture and lifecycle management of OTC and ETD instruments, confirmation and settlement activities, full margin and collateral management support and regulatory reporting. GDP is a rapidly growing arm of the C&IS Business Services group.

The Derivatives Operational Control Senior Consultant role is responsible for oversight of the operational control structure of the Derivatives processing units within GDP. The Sr. Control Consultant will support the Derivatives Operational Control Manager by providing proactive guidance to partners to strengthen controls, ensure compliance with established operational control policies and procedures, and mitigate operational risk.

Derivatives Operational Control Sr. Consultant has a strong knowledge of the financial services industry and good understanding of derivatives products. This role will provide an opportunity for the successful candidate to further develop an in-depth knowledge and experience of a dynamic and varied environment of Derivatives Operations including derivatives processing, valuations, reconciliation and collateral management. The position will report directly to the NOS (Northern Operating Services) Derivatives Operational Control Manager in India.

• Foster and promote Northern Trust's commitment to a strong risk management culture by working to develop a control culture within GDP Operations
• Assist Control Manager in establishment and implementation of control functional activities leveraging best practices and maintaining consistency of their execution globally
• Actively participate in Derivatives Control/ GDP Operations Leaders meetings and risk forums providing advice and support on risk, control and compliance matters
• Monitor key metrics to identify operational risk and/or control issues at an early stage and ensure that immediate measures are taken to maintain quality and efficiency standards. Drive recommendations to strengthen control weaknesses.
• Conduct independent reviews of GDP Operations' processes and activities to ensure strict adherence to controls and corporate policies and allow to proactively identify and remediate issues ahead of official audit, compliance and regulatory reviews
• Conduct reviews of operational losses and incidents within GDP analysing trends/ root causes and tracking recommendations on control enhancements and remediation
• Oversee GDP Operations' adherence to exception management policies and ensure timely escalation of issues to Management
• Conduct periodic procedure reviews for existing processes as well as new processes created by client implementations and take-on activity
• Coordinate periodic maintenance and testing of GDP Business Continuity Plan and related activities by regional business units in accordance with corporate policy
• Serve as a liaison for all internal and external audits, compliance reviews and regulatory examinations
• Track and monitor all audit reporting and regulatory review findings and work with GDP Operations to ensure these are remediated effectively and in a timely manner
• Assist with operational and Corporate Risk & Control initiatives where directed to uphold First Line of Defense role within GDP
• Consistently operate to reduce operational risk and identify and escalate any potential risk situation
• Promote teamwork and assist Derivatives Control Management in achieving Control function's objectives and adding measurable value to the business and Northern Trust's clients

• Advanced knowledge of derivatives products, their structures and behaviors and trade lifecycles
• Knowledge of Derivatives Operations regulatory requirements and industry best practices
• Strong understanding of GDP Operations' functional structure, products & services, end-to-end processes and deliverables (Fund Accounting knowledge is also beneficial)
• Working knowledge of trade processing, accounting and reporting systems used by GDP Operations (GMI, Omnium, Fundmaster, Passport)
• Knowledge of risk management techniques and proven ability to assess and challenge business processes within GDP Operations for control design and efficiency
• Ability to prioritise and achieve multiple deliverables within prescribed timeframes and work with minimum supervision
• Effective project management skills are essential to assist in driving various initiatives
• Ability to work collaboratively with others, develop strong partnerships and achieve a level of trust at all levels
• Excellent analytical, consultative and verbal and written communication skills
• Exceptional self-starting skills, attention to detail, and ability to manage issues through to closure
• Strong knowledge of MS Excel, Word and Powerpoint

• Overall industry experience of 12+ years (inclusive of 2 years in the current risk and control role)
• Degree in Finance, Accounting, Economics or applied sciences desired
• In-depth knowledge of financial services industry
Minimum 9-10 years' experience in a risk & control and/or financial service operations function in a fast-paced, client-focused, deadline-oriented environment
• Hands on experience with derivatives is essential
• Experience/ exposure to working in a strong control environment with required regulatory protocols
• Experience working with self-managed and/or highly complex clients such as highly complex asset managers or pension funds
• Knowledge of complex products such as exchange-traded derivatives and OTC including total return swaps, foreign exchange, and credit and interest rate products both bi-lateral and cleared
• Comfortable with Collateral Management concepts and processes
• Track record of lending assistance and mentoring others
• 3 years as a Team leader to move as a Section Manager currently at an officer Level
• 24 months as a Consultant to move as a Senior Consultant
• Movement within Senior Consultant and Section Manager is applicable if they have prior 36 months of people management experience

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

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.

Additional Information

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