Associate Specialist, Fixed Income & Bank Debt, Middle Office, Hedge Fund Services/Omnium Services

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.  

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Job Description: Associate Specialist

Fixed Income & Bank Debt, Middle Office Asset Servicing, Hedge Fund Services

Summary:

Northern Trust Hedge Fund Services is a rapidly expanding global fund administrator specializing in administering assets of complex hedge funds, private equity funds, pensions, insurance companies, CLOs and other asset managers. The successful candidate will be an ambitious self-starter who has demonstrated the ability to function as an effective and strategic team member in a dynamic, fast-paced and demanding environment. This position will be responsible for leading the operational support of our client’s Private Credit assets. The functions include syndicated and private bank loan trade management and trade closing, lifecycle event processing, compliance and waterfall reporting and cash, position and PNL reconciliations. The candidate is expected to deliver excellent client service daily by way of operational process execution, in depth and current market and product knowledge, technical aptitude and professional communication.

Key Duties and Responsibilities:  

• Lead and execute daily, monthly and quarterly deliverable for multiple clients within a fast-paced, challenging environment
• Liaise with clients, counterparties, trustees and agents to facilitate the closing of syndicated bank loan trading activity on ClearPar.
• Verify, process and reconcile trading and life cycle activities on a daily basis
• Manage compliance and waterfall support for client managed CLOs
• Monitor and maintain all private and bank debt positions, accruals and cash flows to ensure accurate P&L for financial reporting and downstream deliverables.
• Build and strengthen internal and external relationships

Knowledge / Skills: 

• Highly experienced professional with deep technical, business and industry knowledge around private investments, as well as broad functional expertise across multiple disciplines within portfolio management, investment operations and fund accounting.
• Ability to handle multiple tasks simultaneously and with accuracy
• Has strong analytical, organizational and problem-solving skills (“solutions-oriented” mindset)
• Ability to meet time-sensitive deadlines with appropriate sense of urgency
• Fundamentally detail and process oriented and effective communicator
• Experience and proficiency in systems that support portfolio management, middle office and compliance of private credit investments.
• Experience with ClearPar, bank loan trade closing and CLOs is strongly preferred and familiarity with LSTA and LMA closing documents is preferred.
• Deep Familiarity and comfort level with Credit Agreements, Note Agreements, Warehouse Agreements, Indentures and Waterfalls

Experience: 

• A College or University degree and relevant proven work experience
• Related Industry qualification is valued (ex – Master’s degree, big 4 public accounting/consultant experience, CFA/CPA etc)
• Seasoned multi-disciplinary expert with extensive technical and / or business/industry knowledge and functional expertise

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Salary Range:

$95,600 - 162,400 USD

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.

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