Trading Research/Transaction Cost Analyst

Northern Trust • Chicago, IL

2d

About The Position

About Northern Trust: 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. Duties and Responsibilities: Perform transaction cost analysis across multiple asset classes (primarily Equity, Fixed Income, Derivatives, and FX). Analyze and optimize routing, venue, platform decisions and dealer selection in coordination with the trading teams Evaluate dealer panels and dealer participation Maintain and evolve the dealer benchmarking process. Plays key role in supporting day-to-day business reporting, working closely with risk, compliance, and client reporting teams. Works to evolve our trading research and analytics platform. Competencies and Skills: Knowledge of investment instruments, general industry practices, market structures, execution and measurement techniques, trust trading guidelines, regulatory environment and specific securities laws and regulations to ensure the most sophisticated level of trade execution for clients. Knowledge of the context in which trading activity occurs (i.e., favorable and unfavorable effects of various transactions on asset prices, etc.), acquired through work experience, to execute trades with minimal market impact. Ability to recognize circumstances calling for difficult execution methodologies. Skills for frequent external and internal presentation of data. Highly organized, detailed oriented and able to work in a fast-paced and changing environment. Ability to work closely with operational, risk and client-oriented departments. Demonstrated problem solving and ability to create structured approaches to unstructured problems. Demonstrated proficiency in managing multiple tasks/projects with efficiency and speed. Agility to learn and quickly become comfortable with new technologies and processes. Experience: • 5+ years’ experience within the trading process focused on cost analysis. Undergraduate degree from an accredited university. Participation in Chartered Financial Analyst (CFA) program or MBA program preferred. Highly experienced with database structures, data modeling, ETL processes and large data sets (experience with SQL, Microsoft Azure, Snowflake & Microsoft Excel preferred). Experience with data visualization software (including Power BI or Tableau). Experience with trading order management systems (OMSs), back-end trading architecture, and calling data using APIs. Salary Range: $116,100 - 197,300 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. Working with Us: As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose. We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater Reasonable accommodation Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected]. We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people. Apply today and talk to us about your flexible working requirements and together we can achieve greater. Looking for greater? You found it. A global financial leader with more than 22,000 employees in 23 locations worldwide, Northern Trust empowers our employees to achieve more than just business goals. Our focus on work-life balance, career mobility and unique opportunities are just a few of the reasons we’ve been named one of the world’s most admired companies. Terms and Conditions Candidate Privacy Notice California Applicant Privacy Notice Pay Transparency Nondiscrimination Provision (U.S) Transparency in Coverage Disclosure – North America Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), [phone] (Asia Pacific), 1800-425-0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information. APAC/INDIA EEO STATEMENT It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development. Canada EEO STATEMENT Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance. EMEA EEO STATEMENT It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development. USA EEO STATEMENT It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO Know Your Rights (U.S.)

Requirements

• Knowledge of investment instruments, general industry practices, market structures, execution and measurement techniques, trust trading guidelines, regulatory environment and specific securities laws and regulations to ensure the most sophisticated level of trade execution for clients.
• Knowledge of the context in which trading activity occurs (i.e., favorable and unfavorable effects of various transactions on asset prices, etc.), acquired through work experience, to execute trades with minimal market impact.
• Ability to recognize circumstances calling for difficult execution methodologies.
• Skills for frequent external and internal presentation of data.
• Highly organized, detailed oriented and able to work in a fast-paced and changing environment.
• Ability to work closely with operational, risk and client-oriented departments.
• Demonstrated problem solving and ability to create structured approaches to unstructured problems.
• Demonstrated proficiency in managing multiple tasks/projects with efficiency and speed.
• Agility to learn and quickly become comfortable with new technologies and processes.
• 5+ years’ experience within the trading process focused on cost analysis.
• Undergraduate degree from an accredited university.
• Highly experienced with database structures, data modeling, ETL processes and large data sets (experience with SQL, Microsoft Azure, Snowflake & Microsoft Excel preferred).
• Experience with data visualization software (including Power BI or Tableau).
• Experience with trading order management systems (OMSs), back-end trading architecture, and calling data using APIs.

Nice To Haves

• Participation in Chartered Financial Analyst (CFA) program or MBA program preferred.

Responsibilities

• Perform transaction cost analysis across multiple asset classes (primarily Equity, Fixed Income, Derivatives, and FX)
• Analyze and optimize routing, venue, platform decisions and dealer selection in coordination with the trading teams
• Evaluate dealer panels and dealer participation
• Maintain and evolve the dealer benchmarking process.
• Plays key role in supporting day-to-day business reporting, working closely with risk, compliance, and client reporting teams.
• Works to evolve our trading research and analytics platform.

Benefits

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees