Associate Consultant, OTC Derivatives

About Northern Trust As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the worlds most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the worlds most sophisticated clients using leading technology and exceptional service. Hedge fund services- Technical Coordinator, OTC Structured products Founded in Chicago in 1889, Northern Trust is one of the worlds leading financial institutions. We specialise in providing asset servicing solutions and asset management to both institutional and personal clients. The delivery of products and services to this client base is supported through a network of offices around the globe. Role The job requires working for a Global Hedge Fund Administrator, specializing in administering assets of complex hedge funds. This individual will have a strong technical Accounting background; experience working within the Financial Services industry. The position involves performing daily reconciliation of transactions, security positions and cash for all trading activity generated by clients. Major Duties Confirmation of all OTC trades on electronic platforms or on paper (scanned) where requiredLiaison between trading desk, reconciliation and control group, and counterparties to resolve any economic discrepancies on trades in timely, efficient manner.Ensure timely receipt of OTC confirmations from trading counterparties.Ensure accuracy of transaction agreements and modifications.Liaison between trading desk, counterparties and legal department to resolve any legal language discrepancies on OTC trade confirmations.Assist swap confirmation team in covering all OTC products such as total return swaps, equity options, credit defaults, convertible bond options and fixed income products.Assist swap confirmation team in developing and implementing projects and software which promote automation and efficiency.Understanding and managing settlement of swap cash flows associated with OTC products, including upfront fee, unwinds, quarterly premium and resetsManage the settlement of swap cash flows associated with OTC products, including unwinds, quarterly fees, resets, and premiumsAssist in proper operational reflection of OTC trades.Process all aspects of periodic resets for IRS, CDS, and TRS productsReview booking of corporate actions and dividends/coupons to ensure it affects the position and p/l properly.Efficiently identify transaction discrepancies between the client and swap counterpartiesIdentify opportunities for improvement and make constructive suggestions for changeMust be able to interact with co-workers and clients in a fast-paced trading environment. Accountabilities Employees are required to comply with the regulatory regime in which Northern Trust operates as appropriate to the above roleEmployees are expected to exercise due care and diligence, ensuring the areas the incumbent is responsible for are organised and controlledEmployees are required to observe proper standards of market, business and personal conduct, demonstrating integrity in the execution of dutiesReports to TL Skills Approachable and able to promote teamwork through creative solutionsGood analytical, numerical and reasoning skillsTime management and delegation skillsDeep understanding of process and process improvementExcellent/advanced knowledge of Excel with VBA experience being a plus; should be familiar with MS Word & Office tools.Excellent English, grammar, written and oral communication skillsAdaptive, flexible style with the ability to work in a dynamic, fast-paced environmentAbility to handle multiple tasks under extremely time sensitive conditions Qualifications: A minimum of 4-6 years of experience in Financial Services environment, preferably 1-2 years of experience in Derivative affirmation and settlement process and 2 years in the Current role.Experience with Hedge Funds, Investment Management and/or Financial Services strongly preferred.Bachelors degree with emphasis in Accounting, Finance or a quantitative discipline. Masters degree would be an advantage.Business exposure to Equity or Credit or at least some complex derivative products like CDS, IRS, TRS & other OTC products.Proficiency with DTCC Deriv/SERV, SwapsWire or eConfirm platforms preferred.Understanding of established guidelines and documents published by ISDA is helpful Physical demands and work environment: Must be able to interact and communicate with co-workers in a clear, thorough