Northern Trust Sr. Consultant, OTC Structured Products, HFS in New York, New York
Position Title: Sr. Consultant, OTC Structured Products
Department: OTC Derivative Operations - Rates
OTC Team responsibilities
Responsible for the verification, settlement, life cycle event processing, and break resolution related to all client OTC Rates trades.
Responsible for affirmation/confirmation of all OTC Rates trade types on electronic platforms and/or on paper where required.
Responsible for the completion of requested amendments related to all client OTC Rates trade bookings.
Key Duties and Responsibilities:
Affirmation/Confirmation for Rates OTC trades on electronic platforms or on paper where required
Manage the settlement of swap cash flows associated with Rates products, including unwinds, resets, and premiums
Key point of contact and escalation point for trading desk, reconciliation and control group, and counterparties to resolve any economic discrepancies on trades in timely manner
Ensure accuracy of transaction agreements and modifications
Ensure proper controls and audit requirements are upheld through all processes
Work with IT in the development and enhancement offront to back trading systems
Prioritize time properly and delegate responsibility properly across the team
Understand and process trade activity in accordance with established operations policies, procedures and client deliverables; understand and minimize risk associated with trade mismatches
Ensure procedures are kept up to date
Adaptability and ability to effectively work with many coworkers and clients in a fast-paced trading environment.
Should be intellectually curious, intuitive, and trustworthy and have the highest ethical standards
Assist in the training of personal - locally and globally
Seek to improve processes and enhance the overall client experience
Minimum Qualifications (Education, Experience, Skills):
Minimum Bachelor's Degree
2 years finance experience, with focus on Interest Rate Derivatives
Experience in Rates OTC structured and derivatives products.
Strong knowledge of MarkitWire and MTM affirmation workflow
Proven change management experience
Thorough understanding of operational risk management
Excellent people skills; ability to dynamically act as knowledgeable point of reference to co-workers domestically and internationally
Proficiency in Microsoft Excel, VBA and Word
Excellent math and analytical skills
Excellent English, grammar, written and oral communication skills
Ability to handle multiple tasks under extremely time sensitive conditions
Understanding of the various Rates OTC transaction types such as vanilla, cap/floors, swaptions, OIS, FRAs and IOS/POS.
Understanding of front to back workflow.
Understanding of established guidelines and documents published by ISDA
Equal Opportunity Employer-minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity