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Depositary Fund Oversight Consultant

2 months ago


London, Greater London, United Kingdom Northern Trust Corporation Full time

About Northern Trust Corporation:

Northern Trust Corporation, a leading global financial institution, has been a trusted partner for over 130 years, providing innovative financial services and guidance to the world's most successful individuals, families, and institutions.

We are committed to delivering exceptional service, expertise, and integrity, while remaining true to our enduring principles of service, expertise, and integrity.

The Consultant - Depositary Fund Oversight Role:

This role is part of a sub-team within the UK Depositary, responsible for ongoing oversight of Alternative Fund Managers (AFMs) and their funds, including risk management and lifecycle activities.

The preferred candidate will have a key responsibility for overseeing fund risk management, trustee and depositary oversight, and due diligence for Northern Trust.

Key Responsibilities:

  • Ongoing monitoring of regulatory requirements (COLL & AIFMD) and fund-specific requirements for AFMs, ensuring effective compliance monitoring and compliance monitoring plans.
  • Qualitative asset eligibility assessments (equities, bonds, structured products, derivatives, and corporate events).
  • Risk-related analysis, including liquidity monitoring, derivative exposure, and fair value pricing.
  • Assistance with ongoing developments to depositary risk management frameworks for industry topics (e.g., Environmental, Social, and Governance (ESG), Securities Lending and Borrowing (SDR)).
  • Assistance with fund oversight review of scheme launch and change events.
  • Building and maintaining external and internal relationships, including offshore locations, AFM equivalents, senior managers, and key contacts within delegates.
  • Supporting depositary due diligence visits on topics such as investment compliance monitoring, liquidity monitoring, fair value pricing oversight, and production of associated reports.
  • Maintaining Key Performance Indicators (KPIs), developing and maintaining KPIs for offshore locations, and presenting Management Information (MI) on an ongoing basis.

Requirements:

  • Knowledge of depositary duties and responsibilities.
  • Knowledge of fund products and operating structures, investment strategies, and asset classes.
  • Knowledge and understanding of the Financial Conduct Authority (FCA) regulations for funds and depositary responsibilities.
  • Previous relevant risk management or compliance experience preferred but not essential.
  • Efficiency in Microsoft Office tools.
  • Effective communication and relationship management skills.
  • Excellent organizational skills, attention to detail, and ability to work both individually and as part of a team.
  • Good interpersonal and time management skills.

Working with Us:

As a Northern Trust partner, 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.

We encourage movement within the organization, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve.

We value an inclusive workplace and understand flexibility means different things to different people.