Associate Specialist Associate Specialist …

Northern Trust
in Chicago, IL, United States
Permanent, Full time
Last application, 22 Oct 20
Northern Trust
in Chicago, IL, United States
Permanent, Full time
Last application, 22 Oct 20
Associate Specialist
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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