Consultant Derivative Valuations
- Recruiter
- Northern Trust
- Location
- Limerick
- Posted
- 01 Jun 2018
- Closes
- 01 Jul 2018
- Job role
- Accountant
About the Role: Global Derivative Operations supports Northern Trust Custody, Operations Outsourcing activity and Fund Administration clients across the full range of Derivative products (all OTC asset classes), providing operational functions and interfacing between both clients and in-sourced derivative operational areas. As part of our continued expansion in the derivatives area we now have an opening for a Derivatives Valuations Consultant in the Derivatives Operations Valuations Team. Northern Trust is rapidly expanding the number of clients supported under the Custody, Operations Outsourcing services (covering trade capture, full active lifecycle management, reconciliation and valuation). The team has established itself as one of the finest in the department and has developed enhanced valuation services enabling a typical middle office valuation service which includes: improved valuation controls; value added valuation reconciliations, valuation methodology dispute resolution, P and L attribution explanation of valuation differences between valuation sources and new valuation support models for new and bespoke products and processes. This role will provide both regional and global pricing / valuation process support for Northern Trust clients and also high quality (key man) pricing support for projects, testing and, on-boarding while actively seeking to innovate and improve our service offering. Knowledge / Skills Required: OTC's products and asset classes. Strong grasp of reconciliations and investigations of break items. Understanding of trade life cycle and process flow (trade capture, valuations, settlements collateral management etc.). Understanding of trading strategies, long confirms, trade economics, mandatory fields for valuations. Valuation models (Black-Scholes etc.) and OTC curve methodologies and construction (OIS vs Libor, dual vs single boot strap, etc.) for OTC asset classes. OTC option volatility surfaces and dynamics including ATM, OTM and ITM principles. Use of GREEKs (Delta, Vega, Theta, Gamma etc.) and their application in analytics Bloomberg trade modeling for various OTC asset classes. Excellent excel knowledge (VLookups, IF functions, pivot tables, Macros). Exposure to Control, Audit, Compliance and Regulatory areas. Excellent communication written & verbal skills. Excellent organizational skills and ability to both work effectively in team environments and independently. Confidence to challenge internal and external Business partners where necessary and escalate to the management team. Excellent attention to detail Ability to work constructively under deadline and time pressure. Ability to innovate and improve services and processes. Strong presentation skills and confidence to represent the Team on internal and external meetings and calls. Major Duties: Dealing with escalations and conducting investigations of daily valuation breaks for all OTC products. Ensure the pricing integrity, completeness and accuracy of OTC independent vendor pricing. Assist with the reconciliation of client portfolios on a daily basis for large P/L swings and MV breaks and to provide explanations on market value breaks or differences in valuation methodologies. Constructing Excel sheets and tool kits with use of formulas and VBA. Modelling OTC trades in Bloomberg for control price purposes. Analyzing ISDA confirms and term sheets and ensuring both correct trade capture and delivery of end to end process. Working with internal partners and relationship managers to understand client requirements and to deliver a suitable service offering. Work with global counterparts to ensure a quality response to all client queries and that they are answered in a timely manner. Attend Client Service review meetings and be able to present and create presentation material. Work on Change projects with Change management team delivering testing and summation of results. Be able to work independently in a highly organized and efficient manner. Examine current processes and seek to innovate and improve. Provide manual trade capture directly to Vendors for non-standard, exotic and bespoke OTC products Work with independent pricing vendors to obtain missing or amended prices and to improve the service offering to NT Clients. Assisting with Control, Audit and Compliance teams on both internal and external queries. Assist functional and regional management when required. Experience Required: 2-4 years of experience with OTC products and systems pricing / valuation required. Knowledge of Derivative markets, Operational areas, Control and Risk. Graduate in an Analytical area (ie Statistics, Mathematics, Finance, Science) preferred. Having experience of working in any of: Investment Bank, Hedge Fund, Fund Manager and Rating Agency. Proficient in Microsoft Excel, macros & Access databases, as well as Bloomberg Understanding of custodian and operations outsourcing business About Northern Trust: 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 16,500 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. Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion. As of March 31, 2018, Northern Trust Corporation had: $10.8 trillion in assets under custody/administration $8.1 trillion in assets under custody $1.2 trillion in assets under management $130 billion in banking assets
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