Product Control, Middle Office, Hedge Fund Services

About the position

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. 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.

Responsibilities

• 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

Requirements

• Minimum 0-5 years of industry experience in one or more of the following fields: Valuations, Alternative asset operations, P&L/Performance
• Experience in a middle office, product control, valuation or audit environment
• Undergraduate degree in Finance/Accounting is preferable
• 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 programming 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, and service providers

Benefits

• 401k
• Pension
• Medical insurance
• Dental insurance
• Vision insurance
• Spending accounts
• Disability insurance
• Paid time off
• Parental leave
• Caregiver leave
• Life & accident insurance
• Voluntary benefits
• Well-being benefits
• Discretionary bonus program that may include an equity component