Posted in General Business 30+ days ago.
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Location: Tempe, Arizona
Job Description: Product Control - Valuations, Hedge Fund Services, Northern Trust
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.
•Managing daily P&L process support for multiple HFS/AFS clients
•Daily review of Quality Control checks
•Working with Clients on P&L differences and inquiries
•Working with offshore Product Control Team (India) on QC process
•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 consultant's P&L reporting
•Ad/hoc projects to meet and enhance client deliverables
Knowledge / Skills:
•Knowledge of cash and derivative products across various markets
•Knowledge of pricing and valuation
•Knowledge of profit and loss reporting and related attribution analysis
•1+ years relevant industry experience minimum
•Client service experience
•Undergraduate degree in Finance/Accounting is preferable
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.
As of March 31,2019, Northern Trust Corporation had:
$10.9 trillion in assets under custody/administration
$8.2 trillion in assets under custody
$1.2 trillion in assets under management
$122 billion in banking assets