at Northern Trust Company in Chicago, Illinois, United States
Job Description
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.
Job Description: Product Control - Valuations, Hedge Fund Services, Northern Trust
Summary:
Founded in Chicago in 1889, Northern Trust is one of the world's leading financial institutions. We specialize 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.
Northern Trust Hedge Fund Services offers world-class, scalable technology and dedicated expertise to serve hedge funds and large institutional investors with complex portfolios and product types. The business provides comprehensive middle office and administration services, including trade processing, asset servicing, valuation and profit and loss reporting, cash and collateral management, reconciliations, accounting and NAV calculations and investor servicing and reporting.
Role:
In this role, the individual will be the main point of contact for clients on all things related to understanding their trading profit & loss and how their valuations have been sourced. The Product Control function within HFS is responsible for valuation, daily and monthly P&L reporting, end of month pricing substantiation and end of day positional risk reporting. In addition, the Product Controller will work with internal partner areas to ensure all required processes have been performed to verify the valuation accuracy of the client's portfolio.
Major Duties:
- Managing daily P&L process support for multiple HFS clients
- Daily review of quality control checks, resolving exceptions, and triggering price challenges or re-valuation requests on behalf of clients
- Daily engagement with clients to explain P&L differences and respond to inquiries
- Work closely with offshore Product Control team (India) on QC process and migration of work
- Delivering a final daily (and month-end) P&L statement to the client
- Understanding and explaining the key drivers behind the P&L movements
- Preparing/managing monthly (or more frequently as required) price verification process and associated reporting
- Updating and maintaining pricing policy for each financial type that is included in the client's portfolio
- Prepare presentations and analysis as required on process improvement, valuation analysis, and technology enhancements
Knowledge / Skills:
- Understanding of the trade lifecycle, pricing, and valuation of multiple asset classes preferred (e.g. Fixed Income, Rates Derivatives, Credit Derivatives, Equities, FX)
- Strong Excel skills. VBA, Python or other programing language to format large data sets is preferred
- Ability to prioritize, multi-task, and perform effectively under deadlines.
- Understanding of the daily P&L process including reporting of T+0 Estimate and T+1 Actual P&L, performing daily quality control checks, and resolving valuation discrepancies
- Understanding of alternative investment...
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
