Description

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.

The Transfer Agency department provides a third party fund administration service to numerous fund management companies covering the full range of shareholder servicing functions including dealing, registration, settlements, distributions, commissions, reconciliations and statements.

The key responsibilities of the role include

Working within the London Reconciliation team responsible for overseeing the production of daily reconciliations, monthly CMAR and investor CASS statements reconciliations. The Reconciliations team is responsible for reviewing the daily internal and external reconciliations prepared by the offshore teams following FCA CASS 6 and CASS 7 rules. The team is also responsible for delivering the reconciliations and CMAR data reports to the Transfer Agency clients as per the agreed SLAs.

key responsibilities

• Review and sign off the external client money and operations reconciliations ensuring they have been prepared to CASS regulations and client standards
• Review daily NNA and ICBM reconciliations produced in line with CASS 7 regulations
• Review Internal and External Custody reconciliations in line with CASS 6 rules
• Review Client Money reconciliations to ensure the client money requirement is calculated correctly and agrees with the client money resource.
• Ensure any shortfalls and excesses identified are corrected
• Review CMAR reports and ensure they are produced and delivered to clients in timely manner
• Quality Assured the annual and periodic CASS statements reconciliations to ensure they are performed, and any discrepancies are escalated promptly to the Investors Communication Management team
• Deliver CASS Reconciliations within the specified client Service Level agreements
• Ensure the reconciliations tasks are processed into the workflow system accurately and timely
• Update Procedures and ensure any CASS control is recorded in the Control register and CASS process flows
• Lead daily meetings with the CASS Reconciliations reviewers from the offshore team
• Ensure that exceptions are investigated and resolved in a timely manner
• Oversight the tasks performed by the India CASS Reconciliations teams
• Review audit sampling requests and assist CASS auditors with their queries
• Production of stats/KPI's as appropriate.
• Review testing done over CASS reconciliations tools
• Maintain relations with third parties - to include Client, internal relations with other departments and Auditors.
• Maintain a close working relationship with other areas, such as Settlements, Dealing Box management teams and other internal areas such as the Relationship Managers.
• Provide walkthroughs of the Reconciliations processes to Auditors and Clients
• Act as SME for the reconciliations team on CASS incidents and Deal amends discussions
• Make recommendations to manager on procedure changes.
• Fulfil additional, relevant, tasks appropriate to the role and business requirements.

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.

Qualifications / Skills / Experience

• Solid understanding of the CASS rules specially CASS 6, CASS 7 and CASS 9 (Essential)
• Demonstrate excellent knowledge of the two Internal client money reconciliations methods set by the FCA i.e. Net Negative Add Back (NNA) and Individual Client Balances (ICBM)
• Demonstrate understanding of the Internal Custody reconciliation method (ICRM)
• Good understanding of Transfer Agency processes i.e., Dealing, Settlements, Distributions, Registrations, Distributions.
• Ability to review and resolve complex issues working under pressure meeting challenging deadlines
• Demonstrate a detailed working knowledge of Cash Management, Reconciliations processes
• IOC award or working towards this qualification (desirable)
• Customer Service experience
• Excellent planning and organisation skills with a flexible approach to work
• Ability to work on own initiative
• Effective verbal reasoning and numeric skills (Essential)
• Good keyboard skills to include MS Excel and ability to learn systems used within the business (Essential) including Knowledge of PS Financials (desirable)
• Knowledge of collective investment scheme administration and the regulatory environment is highly desirable
• Knowledge of cashbooks and General Ledger packages (desirable)
• Analytical skills are required to research and resolve enquiries
• Strong team-player who builds collaborative relationships

CORE COMPETENCIES

• Interpersonal (relationship building, respectful, problem solving and understanding)
• Communication (listening skills, oral communication skills, information sharing and written communication skills)
• Self-management (adaptability, integrity, learning and trust builder)
• Motivation (closure and result seeking)
• Thinking (decision making, idea generation, inclusion and problem solving)
• Organisational Knowledge (current knowledge, knowledge and understanding)
• Client Service and Quality (quality, relationship building and client satisfaction)
• Administration (coordination, execution, planning and time management)
• Leadership (direction, idea generation, knowledge sharing and team recognition)

The Employee Experience - Life at Northern Trust.
Joining us, you would benefit from a positive work culture, where we support our employees' efforts to balance work and home life, in part by offering access to a broad range of workplace support options including flexible working; emergency family or child care support; professional mentoring; paid volunteering days and the opportunity to buy or sell additional leave.

Personal and professional growth - a world of opportunity.
To support our Global business strategy, we have a number of Business Resource Councils committed to promoting diversity and inclusion and supporting employees in their personal and professional growth. We provide opportunities for networking, mentoring and personal and career development across demographic and geographic groups. In 2014, these groups were responsible for a broad range of personal and professional activities including, guest speaker thought leadership, elder care, nutrition for children, stress awareness day, language classes and religious and cultural celebrations to name a few.

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 [email protected] .

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.