Senior Consultant, Product Control, Integrated Portfolio Services; IPS

Position: Senior Consultant, Product Control, Integrated Portfolio Services (IPS)
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 world’s 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 24,000 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 to help them understand 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)

Experience with pricing vendors such as Markit, BVAL, LoanX, IDC/ICE, etc. Strong Excel skills required.  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 custodians, administrators,…