ACCA Careers
Senior Consultant, Product Control, Hedge Fund Services
ACCA Careers, Chicago, Illinois, United States, 60290
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Senior Consultant, Product Control, Hedge Fund Services
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ACCA Careers About Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. 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 clients 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 clients 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 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.
Qualifications
Minimum 3-5 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 A 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.
Salary
USD 83,100 - 141,300 Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component. 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. Wed love to learn more about how your interests and experience could be a fit with one of the worlds most admired and sustainable companies. Build your career with us and apply today. 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@. We hope youre 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. For further information, and to apply, please visit our website via the Apply button below. #J-18808-Ljbffr
Senior Consultant, Product Control, Hedge Fund Services
role at
ACCA Careers About Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. 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 clients 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 clients 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 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.
Qualifications
Minimum 3-5 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 A 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.
Salary
USD 83,100 - 141,300 Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component. 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. Wed love to learn more about how your interests and experience could be a fit with one of the worlds most admired and sustainable companies. Build your career with us and apply today. 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@. We hope youre 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. For further information, and to apply, please visit our website via the Apply button below. #J-18808-Ljbffr