Securities Lending, Collateral Team Manager (Hybrid)

SUMMARY

The Securities Lending Collateral Team Manager is responsible for managing the Chicago based collateral team that supports Northern Trust's International Securities Lending program. This role reports into the Securities Lending Section Manager based in Chicago.

The team's key objective is to ensure the adequacy of collateral for the global lending book. This is achieved through close liaison with internal business partners such as Trade Support, Trading and Product as well as counterparts at borrowers (typically global investment banks). The desk also maintains a close working relationship with the third party collateral agents used by Northern Trust. The team manages a wide variety of collateral types including non cash, cash and cheques via CDS.

This role requires an individual with considerable management experience and strong working knowledge of the day-to-day operational processes associated with collateral management in the securities lending space. Excellent communication skills are essential.

The individual is expected to achieve high standards of quality, straight-through-processing, and servicing business partners' needs. The individual will be responsible for identifying opportunities to improve the functions performed by the collateral team through process efficiency and greater automation.

Major Responsibilities:

• Ensure optimal productivity and high quality service is provided by Collateral team in support of the Global Securities Lending program.
• Focus on managing day to day operations, monitor work flow distribution and ensure resources are effectively used within the team.
• Conduct appraisals, and facilitate staff development via training and skills coaching.
• Participate in the recruitment process for permanent and temporary staff.
• Identify potential risk situations, ensuring appropriate management and escalation.
• Ensure an effective working relationship exists between the collateral team and other Securities Lending areas including the Trading desk, Trade Support, Entitlements, Product, Asset Servicing, Triparty collateral agents and Borrowers.
• Manage Client and Borrower issues ensuring appropriate resolution.
• Liaise with the SL Business and Process teams regarding new lending products and markets.
• Identify process improvement opportunities and make constructive suggestions with follow through to implementation.
• Ensure appropriate management reporting is produced in a timely manner and review to identify and follow up any items out of standard.

KNOWLEDGE / SKILLS

• Previous Collateral Management experience in an operations environment is essential.
• Some experience in a Securities Lending processing environment is beneficial.
• Strong leadership, organizational and people management skills.
• Ability to work in a fast paced, changing environment.
• Ability to grasp new concepts quickly.
• Excellent communication skills, both oral and written, with an ability to communicate effectively with counterparts at all levels.
• Ability to ask probing questions to identify nature of problem and assess implications.
• Able to recognise process improvements, recommend viable solutions, and implement those solutions.
• Good PC skills, especially Excel.

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.