Product Control Specialist
4 weeks ago
Northern Trust is a globally recognized financial institution with a rich history dating back to 1889. We provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by upholding our core values of service, expertise, and integrity.
We serve the world's most sophisticated clients using leading technology and exceptional service, with a network of offices around the globe.
Job Description:
Product Control - Valuations, Hedge Fund Services, Northern Trust
Summary:
Northern Trust Hedge Fund Services offers world-class technology and dedicated expertise to serve hedge funds and large institutional investors with complex portfolios and product types.
The business provides comprehensive middle office and administration services, including trade processing, asset servicing, valuation, and profit and loss reporting, cash and collateral management, reconciliations, accounting, and NAV calculations, and investor servicing and reporting.
Role:
In this role, the individual will be the main point of contact for clients on all things related to understanding their trading profit & loss and how their valuations have been sourced.
The Product Control function within HFS is responsible for valuation, daily and monthly P&L reporting, end of month pricing substantiation, and end of day positional risk reporting.
The Product Controller will work with internal partner areas to ensure all required processes have been performed to verify the valuation accuracy of the client's portfolio.
Key Responsibilities:
Managing daily P&L process support for multiple HFS clients
Daily review of quality control checks, resolving exceptions, and triggering price challenges or re-valuation requests on behalf of clients
Daily engagement with clients to explain P&L differences and respond to inquiries
Work closely with offshore Product Control team (India) on QC process and migration of work
Delivering a final daily (and month-end) P&L statement to the client
Understanding and explaining the key drivers behind the P&L movements
Preparing/managing monthly (or more frequently as required) price verification process and associated reporting
Updating and maintaining pricing policy for each financial type that is included in the client's portfolio
Prepare presentations and analysis as required on process improvement, valuation analysis, and technology enhancements
Requirements:
Understanding of the trade lifecycle, pricing, and valuation of multiple asset classes preferred (e.g. Fixed Income, Rates Derivatives, Credit Derivatives, Equities, FX)
Strong Excel skills. VBA, Python or other programming language to format large data sets is preferred
Ability to prioritize, multi-task, and perform effectively under deadlines
Understanding of the daily P&L process including reporting of T+0 Estimate and T+1 Actual P&L, performing daily quality control checks, and resolving valuation discrepancies
Understanding of alternative investment custodians, administrators, and service providers
Qualifications:
Minimum 0-5 years of industry experience in one or more of the following fields:
Valuations
Alternative asset operations
P&L/Performance
Experience in a middle office, product control, valuation or audit environment
Undergraduate degree in Finance/Accounting is preferable
Working with Us:
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at
We value an inclusive workplace and understand flexibility means different things to different people. Apply today and talk to us about your flexible working requirements and together we can achieve greater.
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