Manager, Securities Finance (Corporate Actions)

Summary:

This role involves leading the Securities Finance US Corporate Actions team and is based in Chicago. The team provides operational support in respect of corporate actions and manufactured income for Northern Trust's clients in the Americas. The team supports Northern Trust's agency lending program and a number of Client Directed Lending arrangements.

In addition to ensuring seamless day-to-day processing, the team's responsibilities includes borrower relationship management, oversight of processes off-shored to Bangalore, SME role to internal partners, identifying and implementing process enhancements, IT project support, and ad-hoc projects that include researching market / product issues to ensure on-going operational soundness.

This role requires an individual with extensive technical knowledge and experience in corporate actions operations. Excellent analytical skills and strong communication skills are also required. The individual will demonstrate strong leadership qualities and instill a culture of continuous improvement throughout the team, encouraging staff to strive to identify ways to reduce operational risk, improve straight-through processing, and implement best market practice.

This position will involve close liaison with various Securities Finance areas on a global basis (including Bangalore Operations, Trade Support, Trading, Client Services, Product and Control), other internal partners including Custody Income and Tax, borrowers and sub-custodians.

Major Responsibilities:

• Maximize the team's operational efficiency by monitoring workflow distribution and managing the allocation of resources within the team.
• Ensure a strong 'risk and control' culture exists amongst the team such that operational risk is inherently reduced and any potential risk situations are promptly identified and escalated. Ensure potential loss situations are appropriately managed.
• Liaise with counterparts at borrowers and external lending agents to ensure appropriate management of corporate events.
• Ensure an effective working relationship exists between the SF Corporate Actions team and key internal partners including Trading, Trade Support, Collateral, Custody Asset Services, Client Services and Product.
• Ensure an effective working relationship exists between Chicago and Bangalore Entitlement teams with a controlled handover of transactional queries / issues. Ensure appropriate oversight of offshored activities and adequate procedures to support processes migrated to Bangalore, including manufactured income.
• Set staff objectives and oversee the performance management process. Ensure staff performance issues are effectively managed. Support team personnel in realizing their potential by addressing development and training needs.
• Assist staff with technical queries and provide coaching in the research and resolution of complex issues.
• Ensure a culture of continuous improvement exists throughout the team, encouraging staff to identify ways to improve straight-through processing and implement best market practice. Participate in system enhancement projects and oversee process improvement initiatives through to implementation.
• Produce MI commentaries for management.
• Play an active role in staff recruitment where required.

Qualifications:

• Strong technical knowledge required in respect of the principles and market practices of Corporate Actions.
• Experience in Securities Finance Corporate Actions/Income operations processing is desirable.
• Ability to lead and inspire a team. Management or supervisory experience required.
• Excellent organizational skills with an ability to prioritize multiple deliverables and work with minimum supervision. Able to work under pressure and to tight deadlines.
• Strong communication skills, both verbal and written, with an ability to articulate issues clearly and logically.
• Strong analytical skills and attention to detail. Applies sound judgment when addressing ambiguous issues.
• Proven ability to grasp new concepts quickly.
• Can identify process improvement opportunities and oversee through to implementation.
• Good Excel skills.
• FSA Training & Competence 'Threshold Competent' advantageous.

About Northern Trust:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With over 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 we are honored to receive the following awards in 2021:

• Gender Equality Index Member, Bloomberg
• Top Financial & Banking Company, Black EOE Journal, Hispanic Network Magazine, Professional WOMAN'S Magazine

We'd love to learn more about how your interests and experience could be a fit with one of America's best banks and most sustainable companies! Build your career with us and apply today.