Derivatives, Confirmations Sr Analyst

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

Derivatives, Confirmations Sr Analyst

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

• 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

• 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