Northern Trust - Section Manager - Investment Operations Outsourcing

Role : Section Manager - Investment Operations Outsourcing

REF: Market Operations

Founded in Chicago in 1889, Northern Trust is one of the world's leading financial institutions. We specialise 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.

ROLE :

Incumbent will be responsible for end to end process management & delivery of process of all or a cluster of processes which include:

Confirmation of all instrument class viz, Equity, Bonds, Fx & MM Deposits

Settlements involving Equities and Fixed in different markets across the globe

Cash Management (Payments and Journal postings)

Overdraft Monitoring

Front Office Reconciliation

The incumbent will be accountable for proper change management & process improvement.

Continuously develop industry/product knowledge. Ability to understand customer segments and apply different servicing approaches based on customer knowledge level. Implement development plans for staff.

PRINCIPAL RESPONSIBILITIES :

- Responsible for managing Market ops teams(s), including conducting the performance management process and providing input for staff and disciplinary actions.

- Act as a subject area expert and directs activities of staff. Develop and maintain specific subject expertise and advise business management, and relevant third parties.

- Publishing of weekly KPI's to identify and track reasons for deviation from agreed levels, also ensuring follow up for all ageing items.

- End to End process responsibility and to be in control of End of day reports and critical intra-day reports.

- Managing all Exceptions and handholding to closure

- Play a key role in Audit reviews and checks

- Assist in preparing and implementing Business Continuity Plans.

- Review and improve on productivity benchmarks on ongoing basis.

- Work with the Division Manager to ensure regular communication with onshore locations.

- Make performance appraisal for direct reports.

- Processes research/investigations on appropriate systems to operations

- Explains product features and benefits

- Create strong resiliency & backups within the team.

- Work in partnership with Local Risk & Audit team for QA Tests, MIS, Audit etc.

- Serve as a lead resource in the creation, revision, and interpretation of investment operations policies and procedures

SKILLS / EXPERIENCE/ KNOWLEDGE :

GENERAL :

- Demonstrated client servicing capabilities and excellent communication skills.

- Must be able to work under pressure and make accurate decisions in stressful situations.

- Must be able to lead, manage and motivate the teams.

- Good time management skills

- An appreciation of risk and quality issues

- Control Oriented

- Proactive, positive approach

- Able to grasp/learn concepts and procedures quickly

- Ability to work independently

- Problem solving skills

- Attention to detail

- Organizational skills are required to manage conflicting priorities and multi-task functions in a fast-paced team environment. Leadership and organizational skills are required to develop periodic goals and to motivate team members towards the goals set.

MANAGEMENT :

- Support the implementation of business plans.

- To be viewed as a role model in the team.

- Manage the allocation of the workload in a fair and efficient manner.

- Delegate appropriately.

- Act as effective Manager within the unit and with other units by imparting knowledge as appropriate.

- Deliver training /coaching effectively.

- Provide objective and regular feedback to staff.

ACCOUNTABILITIES :

- Employees are required to comply with the regulatory regime in which Northern Trust operates as appropriate to the above role.

- Employees are expected to exercise due care and diligence, ensuring the areas the incumbent is responsible for are organised and controlled.

- Employees are required to observe proper standards of market, business and personal conduct, demonstrating integrity in the execution of duties.

- Responsible for managing team(s).

KNOWLEDGE AND SKILLS:

Products :

General knowledge of financial products and their operations processing requirements specific knowledge of Cash Equity, Fixed Income & Fx Products.

Financial Markets

- General knowledge of financial markets, the institutions that govern them and the major firms that operate in them

- Specific knowledge of all relevant markets in different region viz. EMEA, US & APAC

- Knowledge of specific clearing institutions. - i.e. CREST and Euroclear

An understanding of the various departments within Investment management world and how they interact with each other :

- Front Office

- Operations Departments: Confirmations, Settlements, Reconciliation, Data Management

- Other Support Functions: Finance, Legal & Compliance.General knowledge of the lifecycle of a securities trade

Specific knowledge of Equity, FI & Fx Settlement processes :

- Pre and Post Settlement

- Cash Management

- Stock & Cash Reconciliation

- Operational Risks & Controls

IT Systems :

- Understanding of the functional purpose of each system used in day-to-day processing

- Understanding of how the data in the various systems is interrelated.

Risk Management :

- Understanding and consistent application of key control activities within day-to-day processing

EXPERIENCE :

- CA/ MBA (Finance)/CFA or B.com with at least 5 years experience in people management role.

- Knowledge of Capital Markets Essential with the knowledge of the investment management/asset servicing industry (preferable), with Minimum 6 years experience in the capital market domain and Overall Experience of 9-10 Years