Reconciliations Team Manager

1 month ago

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

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution with a rich history dating back to 1889.

We are 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.

Role/Department:

The primary responsibility of the Team Leader is to supervise and support a team of Senior Analysts and Technical Coordinators within the CASS and Distribution Reconciliation teams.

The team is responsible for delivering CASS 6 & 7 Reconciliations and outstanding distribution balances reports to Transfer Agency clients, as well as producing monthly CMAR.

The Team Leader reports to the Team Manager and assists with workflow distribution and maximizing the effectiveness of the team.

Key Responsibilities:

  • Ensure all Reconciliations activities are processed as per SLA, including production and dispatch of the CASS Reconciliations packs, production of the Operations and Distribution reconciliations, monthly Reconciliations MI, and query resolution.
  • Compliance with regulations, specifically CASS and attainment of client-specific processing requirements, including Client Money oversight and control.
  • Day-to-day oversight of the document management process, ensuring that reconciliations tasks are processed and reviewed (Quality check and Quality Assurance) into the workflow system accurately and timely.
  • Maximize scalability through the use of onshore and offshore locations and multi-function.
  • Escalation point for unresolved issues to the offshore TA team.
  • Maintain a close working relationship with other areas, such as Settlements, Dealing, CSMs, and other internal areas, such as Relationship Managers.
  • Analyze monthly management information to understand where quality at an individual process, team, or management company needs to be addressed.
  • Work with the team, internal teams, and group projects area on any allocated projects.
  • Work with internal departments to evaluate and implement changes in proposed new regulations and ensure that all current requirements are met.
  • Liaise with clients regarding Service and Service Level Agreements.
  • Be the main contact point both internally and externally for all Reconciliation-related activities, including Audits, Projects, and Client On-boarding.
  • Ensure that appropriate segregation of duties controls are in place at all times.
  • Provide management and guidance to staff, fostering an environment that encourages employee participation, teamwork, and communication.
  • Responsible for the development, recruitment, appraisals, one-to-ones, and retention of staff.
  • Fulfill additional, relevant tasks appropriate to the role and business requirements. Provide support to and cover for the Management Team.

Skills/Qualifications:

  • Demonstrate a good understanding of Reconciliations and associated ledger work.
  • Good understanding of CASS rules, specifically CASS 7 and CASS 6.
  • Demonstrate good knowledge of the two Internal Reconciliations methods set by the FCA, i.e., Net Negative Add Back and Individual Client Balances.
  • Demonstrate a good understanding of distributions and associated work.
  • A good understanding of effective risk management.
  • Ability to work under pressure, meeting challenging deadlines.
  • Effective verbal reasoning and numeric skills.
  • Good keyboard skills, including MS Excel, and ability to learn systems used within the business.
  • Excellent planning and organization skills.
  • Flexible approach to work.
  • Ability to work on own initiative.
  • Customer Service experience.
  • Extensive knowledge of collective investment scheme administration and the regulatory environment is highly desirable.
  • An understanding of Unit Trust and OEIC administration.
  • Knowledge and understanding of FCA/HMRC regulatory environment.

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.

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

We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies.

Build your career with us and apply today.

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