Senior Consultant, OTC/FX, Omnium Middle Office Trade Services

Northern Trust•Chicago, IL

1d•Hybrid

About The Position

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service. The role involves operating independently with in-depth knowledge of the business unit/function, providing comprehensive, in-depth consulting and leadership to the team and partners at a high technical level. Activities are large in scope, cross-functional, and technically difficult. The role balances high-level operational execution and development with the execution of strategic direction for business function activities.

Requirements

Bachelor’s degree strongly preferred
Five plus years of experience in FX or OTC structured and derivatives products operations including: Experience with the settlement of OTC structured and derivatives products
Experience reviewing documentation for OTC structured and derivatives products
Excellent people skills; ability to dynamically act as knowledgeable point of reference to co-workers domestically and internationally
Proficiency in Microsoft Word, Excel (ability to create macros)
Excellent math and analytical skills
Excellent written and oral communication skills
Strong organization skills, meticulous attention to detail.
Ability to handle multiple tasks under extremely time sensitive conditions
The successful candidate will be a mature self-starter who has demonstrated the ability to function independently in a fast-paced, dynamic and demanding environment.
This person needs to be able to resolve conflict within a short period of time.
This person will be intellectually curious, intuitive, trustworthy and have the highest ethical standards.
In addition, he/she will be effective addressing a number of internal and external audiences in a professional manner.
This person will add value by working on a number of simultaneous tasks with minimal supervision and exemplary follow-through.

Nice To Haves

Proficiency with DS Match, MarkitWire/MarkitTradeManager, and eConfirm platforms preferred
Understanding of the various transaction types within each asset class beyond ‘vanilla’ trades is preferred (e.g. for IRS, understanding of caps, floors, swaptions, etc. and for CDS, understanding of tranches, recovery swaps, ABS/X, etc.)
Understanding of established guidelines and documents published by ISDA is helpful
OTC Regulatory knowledge across Dodd Frank, EMIR, ASIC, MAS

Responsibilities

Affirmation/Confirmation of all OTC and FX trades on electronic platforms or on paper where required
Manage the settlement of swap cash flows associated with OTC and FX products, including unwinds, fees, resets, and premiums
Assist in proper operational reflection of OTC and FX trades
Review booking of corporate actions and dividends/coupons to ensure accurate position and p/l attribution
Efficiently identify and resolve transaction discrepancies between client and swap counterparties.
Liaison between trading desk, control groups and counterparties to resolve any economic discrepancies on trades in a timely and efficient manner
Process all aspects of periodic resets for vanilla and exotic IRS, CDS, and Equity OTC products
Ensure timely receipt of OTC and FX confirmations from trading counterparties
Ensure accuracy of transaction agreements and modifications
Work with IT in the development and enhancement of the trade management system
Prioritize time accordingly to action trade breaks by end of day
Understand and process trade activity in accordance with established operations policies and procedures; understand and minimize risk associated with trade mismatches
Must be able to interact with coworkers and clients in a fast-paced trading environment.
Should be intellectually curious, intuitive, and trustworthy and have the highest ethical standards
Effectively address a number of internal and external audiences in a professional manner
Assists in the training of staff globally
Perform other related duties as required
Operates independently; has in-depth knowledge of business unit / function
As subject area expert, provides comprehensive, in-depth consulting and leadership to team and partners at a high technical level
Carries out activities that are large in scope, cross-functional and technically difficult
Role is balanced between high level operational execution and development, and execution of strategic direction of business function activities

Benefits

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
other voluntary and well-being benefits
discretionary bonus program that may include an equity component
flexible and collaborative work culture
financial strength and stability
movement within the organization is encouraged
senior leaders are accessible
company committed to assisting the communities we serve
focus on work-life balance
career mobility
unique opportunities
reasonable accommodations to individuals with disabilities