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Job description
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 world’s most successful individuals, families, corporations and institutions.
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 world’s 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 world’s most sophisticated clients using leading technology and exceptional service.
Job Description: Product Control – Valuations, Hedge Fund Services, Northern Trust
Summary
Founded in Chicago in 1889, Northern Trust is one of the world’s leading financial institutions. We specialize 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.
Northern Trust Hedge Fund Services offers world-class, scalable technology and dedicated expertise to serve hedge funds and large institutional investors with complex portfolios and product types. The business provides comprehensive middle office and administration services, including trade processing, asset servicing, valuation and profit and loss reporting, cash and collateral management, reconciliations, accounting and NAV calculations and investor servicing and reporting.
Role
In this role, the individual will be the main point of contact for clients to help them understand their trading profit & loss and how their valuations have been sourced. The Product Control function within HFS is responsible for valuation, daily and monthly P&L reporting, end of month pricing substantiation and end of day positional risk reporting. In addition, the Product Controller will work with internal partner areas to ensure all required processes have been performed to verify the valuation accuracy of the client’s portfolio.
Major Duties
Managing daily P&L process support for multiple HFS clients
Daily review of quality control checks, resolving exceptions, and triggering price challenges or re-valuation requests on behalf of clients
Daily engagement with clients to explain P&L differences and respond to inquiries
Work closely with offshore Product Control team (India) on QC process and migration of work
Delivering a final daily (and month-end) P&L statement to the client
Understanding and explaining the key drivers behind the P&L movements
Preparing/managing monthly (or more frequently as required) price verification process and associated reporting
Updating and maintaining pricing policy for each financial type that is included in the client’s portfolio
Prepare presentations and analysis as required on process improvement, valuation analysis, and technology enhancements
Knowledge / Skills
Understanding of the trade lifecycle, pricing, and valuation of multiple asset classes preferred (e.g. Fixed Income, Rates Derivatives, Credit Derivatives, Equities, FX)
Experience with pricing vendors such as Markit, BVAL, LoanX, IDC/ICE, etc.
Strong Excel skills required. VBA, Python or other programing language to format large data sets is preferred
Ability to prioritize, multi-task, and perform effectively under deadlines.
Understanding of the daily P&L process including reporting of T+0 Estimate and T+1 Actual P&L, performing daily quality control checks, and resolving valuation discrepancies
Understanding of alternative investment custodians, administrators, and service providers.
Qualifications
Minimum 3-5 years of industry experience in one or more of the following fields:
Valuations
Alternative asset operations
P&L/Performance
Experience in a middle office, product control, valuation or audit environment
Undergraduate degree in Finance/Accounting is preferable
A genuine desire and capability to work in a fast-paced, professional, inclusive environment which requires teamwork, well-honed problem-solving skills, frequent re-prioritization, deadline management, ongoing and comprehensive communication, constant attention to detail, and a commitment to continuous improvement and best practices.
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa)
Salary Range
$83,100 - 141,300 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Work Authorization
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).
Working with Us
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at , or alternatively you can discuss your individual requirements with the recruiter you are working with.
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Worksite address
chicago, IL, 60290, US
Who can apply
Review the original listing for work authorization, qualifications and employer requirements.