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.  

Product Control, Hedge Fund Service, within Northern Trust is hiring for:

Entry-level, Individual ContributorsMid-level, Individual ContributorsSenior-level, Individual Contributorsif you meet the below requirements, please apply

Major Duties:

Managing daily P&L process support for multiple HFS clientsDaily review of quality control checks, resolving exceptions, and triggering price challenges or re-valuation requests on behalf of clientsDaily engagement with clients to explain P&L differences and respond to inquiriesWork closely with offshore Product Control team (India) on QC process and migration of workDelivering a final daily (and month-end) P&L statement to the clientUnderstanding and explaining the key drivers behind the P&L movementsPreparing/managing monthly (or more frequently as required) price verification process and associated reportingUpdating and maintaining pricing policy for each financial type that is included in the client’s portfolioPrepare 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 preferredAbility 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 discrepanciesUnderstanding of alternative investment custodians, administrators, and service providers.

Qualifications:

Minimum 0-5 years of industry experience in one or more of the following fields:ValuationsAlternative asset operationsP&L/PerformanceExperience in a middle office, product control, valuation or audit environmentUndergraduate degree in Finance/Accounting is preferableA genuine desire and capability to work in a fast-paced, professional, inclusive environment which requires teamwork, well-honed problem-solving skills, frequent re-prioritization, deadline management, ongoing and comprehensive communication, constant attention to detail, and a commitment to continuous improvement and best practices.

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Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.

We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.