Senior Analyst, Custody Oversight, Depositary
Luxembourg Custody Oversight - Senior Analyst
Founded in Chicago in 1889, Northern Trust (NT) is one of the world's leading financial institutions. We specialise 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. Role:
Northern Trust Global Services SE (NTGS SE) is the European bank head-quarters of NT. The Luxembourg Custody Oversight (LCO) function ensures that the offshored custodian operational model and global custody network is robustly monitored and controlled in order to meet our internal, client and regulatory obligations. The LCO Senior Analyst reports locally to the LCO team leader. Principal Responsibilities:
• Ensure that the NTGS SE LCO team functions effectively in overseeing the outsourced custody operational model in-line with service levels and contracts
• Perform on-going and annual Due Diligence upon custody operations, sub-custodian delegates and custody support functions
• Oversee custody account openings for NTG SE clients follow the established control and set up procedures
• Review the output of reconciliations performed between the core custody records to that of the sub-custodians
• Ensure that portfolio transactions of Income, Dividends, Corporate Actions, Trades are processed and settled per market standards, Identify exceptions/breaks and follow up with custody operational teams and management to ensure these are understood and addressed
• Attend internal governance and risk meetings, represent NTGS SE at sub-custodian and network management committees
• Prepare Management Information Statistics (MIS) and Key Risk Indicators (KRI) reporting to local management, as required
• Oversee and transmit reporting of Custody activity to the regulator and central bank of Luxembourg
• Identify and support initiatives to improve upon processes and controls
• Keep up to date with internal and external regulatory and market developments impacting the LCO duties
• Maintain and update operational procedures in line with expected risk requirements
• Provide local support for all on-boarding initiatives, identify ways to improve upon the LCO model
• Work closely with the internal outsourcing oversight and custody management and be a team player
• Be adaptable to change and challenges, work with due skill and attention to accuracy and timeliness Knowledge/Skills:
• A basic understanding of global custody operations, network management or internal governance responsibilities
• A good understanding of financial markets and financial instruments
• Effective verbal, presentation and written communications skills
• A 'can do' attitude and be a team player
• Personal confidence and flexibility to work in a "start-up business unit"
• Familiarity with custody systems and or MS Office
• Fluent in English language, other EU languages may be an advantage
• Experience in a global custodian, depositary or network management or internal governance role
• University degree or equivalent qualifications relevant to banking, accounting, economics, compliance
• Effective Communication - Personal Courage - Innovative - Diversity, Inclusion & Respect About Northern Trust:
Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service. Working with Us:
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve!
We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why Forbes ranked us the top employer for Diversity in 2018.
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 ethical companies. Build your career with us and apply today.
As Northern Trust is a financial organisation; all new employees will be required to undergo a criminal record check.