Derivatives, Confirmations Senior Analyst

  • Location: London, England, United Kingdom
  • Salary: competitive
  • Job Type: Full time

The Derivatives Outsourcing department provide middle and back office operational support to investment management clients, across a wide range of Exchange Traded and Over the Counter products. The team's responsibilities include trade capture, trade confirmation/affirmation, transaction settlement, margin calculation, margin settlement and all associated reconciliations.

The confirmations team currently consists of four staff who report to the team leader. The team’s primary function is to make sure our client’s OTC trades are being matched with counterparts efficiently and according to market/regulatory standards. The team support both bilateral and CCP trading activity. To do this Northern Trust utilizes the Market Trade Manager (MTM) tool to monitor and process both paper and electronic confirmations.

The key responsibilities of the role include: 

Team Responsibilities

Monitoring exception queues in MTM to ensure alleged trades are matched, or disputes identifies, escalated and resolved

Checking of paper confirmations versus the trade capture system, Summit

Processing of novation’s and client transitions

Liaising with clients, counterparts and vendors to resolve discrepancies

Investigation and resolution of queries

Conducting root cause analysis into the reasons for confirmation turnaround failing to meet regulatory standards

Ensuring all tasks are completed according to client SLA’s and regulatory deadlines

Collation of daily, weekly and monthly MIS

Collation of regulatory reporting for distribution to clients

Monitoring performance of counterparties and providing feeback to clients, participating in regular service review sessions

Providing confirmations to interested parties such as Fund Accountants, Trustees, Third Party Administrators and Auditors

Individual Responsibilities

To provide support to the OTC Confirmations team leader and department manager

To ensure that all team duties are completed accurately and within, market and SLA deadlines

Attend internal and external meetings with clients and counterparties where required

Ensure that procedures are followed and updated regularly

Ensure that controls are adhered to and evidenced daily

To monitor own, team, client and counterparty performance, identifying trends and areas for improvement

To contribute to tactical and strategic initiatives and improve performance

Products Covered Include

Swaps – Rates (ITS, Inflation, Zero Coupon, Basis, OIS, TRS, Asset). Credit (Single Name, Index). Equity (Single Name, Index, Variance, CFD’s, TRS, Asset). FX (XCCY, Basis). Commodity (Index, Property)

Caps and Floors

Swaptions- Rates, Credit

Options – Equity, Index, FX

Knowledge/Skills

Familiarity with OTC documentation and matching platforms such as DTCC and Markitwire

Sound knowledge of OTC products and market practices

Excellent/Word skills

Summit and Markit Trade Manager experience useful

Competencies

Ability to work as part of a team

Ability to process large and variable volumes accurately whilst consistently meeting external and internal deadlines

Effective risk-weighted prioritization and escalation

Ability to operate calmly and professionally when under pressure

Ability to adapt positively to change

Excellent communication skills both written and verbal

Ability to represent Northern Trust to the highest professional levels both internally and externally (including clients, auditors, regulators etc)

Understanding of the Investment Management industry

Ability to identify and pursue improvement opportunities

About Northern Trust 

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

 

Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion. 

As of March 31, 2018, Northern Trust Corporation had:

$10.8 trillion in assets under custody/administration 

$8.1 trillion in assets under custody

$1.2 trillion in assets under management

$130 billion in banking assets

 

London, England, United Kingdom London England GB