The Transfer Agency ("TA") department provides a third party fund administration service to numerous fund management companies covering the full range of shareholder servicing functions including dealing, registration, settlements, distributions, commissions and statements.
There is a need for an experienced operations specialist with a background in Asset Management operations and the applicable areas of regulation (specifically CASS, COLL and COBS), to assist the TA in further strengthening current systems and controls to facilitate TA client's compliance with the applicable regulations.
This is a demanding role that focusses on the TA business and will suit a self-starter who has the ability to manage multiple priorities. Examples of priorities include client and internal stakeholder management, oversight and management of multiple change initiatives / projects as well as maintaining focus on supporting Business-As-Usual ("BAU") operations / commitments.
This role will report to the Head of Financial Control in the oversight and continuing evolution of the Transfer Agency governance and operations framework. The role will also maintain close links with oversight and support functions, including the Northern Trust CASS Office and External Audit Support Team, in the management of issues, changes and ongoing monitoring..
The key responsibilities of the role include:
Progression and completion of actions / projects to enhance the TA process and control framework.
Operating TA governance meetings, for example Incident Meeting, Operational Performance Meeting.
Monitor and provide guidance within the incident management process, including reporting to TA clients.
Monitor and assess impact of changes in CASS regulatory requirements to the TA business and TA's CASS infrastructure, for example CASS change, and support the implementation of appropriate infrastructure to facilitate clients' compliance with the CASS regulatory obligations.
Provide advice and guidance on the application of the regulatory rules to multiple stakeholders (including but not limited to Clients, Business Unit partners and internal governance forums), specifically with regards to CASS.
Regularly review the operating effectiveness of key processes/functions/controls within TA, specifically where relating to the protection of client money and custody assets, and implement enhancements.
Be the contact point for TA Senior Managers, TA Audit Support Team, Client Service Team, NT CASS Office and NT Compliance functions when providing guidance on effectiveness of TA systems and controls in meeting compliance with the applicable regulatory requirements.
Lead Client and CASS Audit meetings providing detailed knowledge of operational methodology, associated procedures and controls operating.
Leading operational teams where necessary to ensure BAU SLAs are achieved.
Managing a number of priorities
Monitor and assess Operational performance and issue management.
The successful candidate will benefit from having:
Knowledge and experience of leading a Reconciliation and/or Settlements Teams, understanding the challenges faced.
Understanding of the FCA's principles and rules, including CASS, COBS, COLL and DP and their application to the TA / Asset Management firms.
Experience of specializing in a demanding operational role
Asset Management / Transfer Agency / Funds Platform industry knowledge and skills
Excellent communication skills with the ability to develop effective working relationships
Experience in production of management information reporting and/or reconciliations will also prove advantageous.
proven leadership , influencing and negotiation skills
Excellent analytical / interpretation skills
Service/Client orientated i.e. proactive and strong client / business focus
Confidence to escalate and raise issues to the appropriate level
Ability to prioritize and to lead others in applying appropriate prioritization
Self starter with ability to work under minimal supervision.
Good written and verbal communication skills.
Ability to interact effectively with senior management and staff at all levels.
Project management skills would be beneficial but not essential
About Northern Trust
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion.
As of December 31, 2018, Northern Trust Corporation had:
$10.1 trillion in assets under custody/administration
$7.6 trillion in assets under custody
$1.1 trillion in assets under management
$132 billion in banking assets
Internal Number: 5637755
About Northern Trust
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