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.

Responsible for the verification, settlement, life cycle event processing, and break resolution related to all client OTC cash flows.
Responsible for the completion of requested amendments related to all client OTC trade bookings.

Excellent oral and written communication skills are required
In-depth Functional / Industry Knowledge is required
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
Proficiency with DTCC Deriv/SERV, SwapsWire, or TriResolve platforms preferred

Major Duties:

1. Highly analytical in the affirmation of OTC trades from prior trade date.

2. Comfortable in data mining large spreadsheets to be able to spot issues or trends

3. Ensures accuracy of transaction agreements and modifications.

4. Assists swap confirmation team in covering all OTC products such as total return swaps, equity options, structured equity products, convertible bond options, credit defaults and fixed income products.

5. Manages the settlement of swap cash flows associated with OTC products, including unwinds, quarterly fees, resets, and premiums

6. Assists in proper operational reflection of OTC trades

7. Assist in developing and implementing projects and software which promote automation and efficiency as well as work with IT in the development/enhancement of trade entry.

8. Efficiently identifies and resolves transaction discrepancies between firm and swap counterparties.

9. Processes all aspects of periodic resets for IRS, CDS, and TRS products.

Experience:

Bachelor's degree preferred
0-3+ years' experience in OTC structured and derivatives products preferred

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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 MyHRHelp@ntrs.com.

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.