OTCFX Associate Specialist, Integrated Portfolio Services

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 24000 partners we serve the worlds most sophisticated clients using leading technology and exceptional service.

The OTC and FX Associate Specialist is responsible for the driving implementation and execution of our project initiatives. They will translate strategy into actionable plans drive execution across our teams coordinate dependencies and manage trade-offs monitor progress and surface risks or constraints and reinforce priorities and adjust as addition the OTC and FX Associate Specialist is responsible for contributing executing and reinforcing the strategic priorities stepping in to assist the team where needed to successfully satisfy the client support model.

Major Duties:

• Being an escalation point for members of the team and clients
• Being an OTC/FX Product SME
• Manage team projects or initiatives
  • Taking lead on an initiative while contributing and executing in others
• Oversight of processes within team of:
  • Manage multiple clients/hedge funds and business lines within a fast-paced challenging environment
  • Affirmation/Confirmation of all OTC and FX trades on electronic platforms or on paper where required
  • Settlement of swap cash flows associated with OTC and FX products including unwinds fees resets and premiums
  • Proper operational reflection of OTC and FX trades
  • Booking 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
  • 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
• Work with IT in the development and enhancement of the trade management system
• 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
• Perform other related duties as required
• Assists in the training of staff globally.
• 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
• Strategic in developing implementing and administering programs within functional areas

Knowledge/Skills:

• Bachelors 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
• Proficiency with TradeServ MarkitWire/MarkitTradeManager and eConfirm platforms preferred
• 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) Copilot Power Automate
• 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
• 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

Experience:

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 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.

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Salary Range:

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 Trusts 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.