Manager Front Office Solutions Limerick
About Northern Trust:
Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
As a Northern Trust employee (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 Forbes ranked us the top employer for Diversity in 2018. Department/Role:
The Manager/Team Lead, will supervise the Associate Consultants in their execution of well-specified functions supporting client responsibilities primarily managed out of FOS-Chicago. The overarching goal of FOS-Limerick + FOS-Chicago is to provide assigned clients with the holistic investment data sets they need to fulfil their various stakeholder requirements in an ever-changing, dynamic investment environment.
The work of the Manager/Team Lead is expected to evolve over time as the FOS-Limerick crew absorbs an initial tranche of supporting responsibilities. These are will include: Data Management
- loading data into the toolset (aka "Parilux" or "Fund Manager") Document Management
- loading investment documents into the toolset. (This would include subscription agreements, amendments, and quarterly and monthly statements.) Inbox Management
- Heavy volumes of client documents are collected through individualized Client Inboxes. These documents need to be sorted and organized; content needs to be extracted and input into the Parilux toolset, and the documents themselves need to be stored in the tool. Reconciliation & Review
- The service commitment to clients is to process new data in 24-48 hours of receipt. Transactions and values need to be inputted into the tool and reconciled back to supporting documentation. Reconciliation processes is being migrated to the Duco toolset. The Manager will be expected to facilitate use of the Duco tool. Primary Responsibilities:
• Responsible to comply with FOS-Chicago's Limerick Service Level Description. Responsible to escalate any questions or issues at the inception of the SLD, at the inception of any new client, or in the event of any ongoing compliance conflicts.
• Works with FOS-Chicago Client Solutions staff on discovery, problem resolution, and workflow management.
• Acts as first point of escalation for daily operations issues as raised by Limerick team members/direct reports.
• Acts as a final reviewer and approver for Limerick team daily activity reporting. Includes:
o Start of Day and End of Day data file validation.
o Start of Day and End of Day reconciliation tasks.
o Start of Day and End of Day client support tasks.
o Daily metrics and issue reporting.
• Provides final review and sign off on daily output including data delivery, reconciliation, and any additional Client Solutions items.
• Review of detailed transaction and data entry into Front Office Solutions' software systems when applicable including client investment data, referential data, and investment benchmark data.
• Responsible for oversight of Limerick team client document management activities:
o Leads client onboarding support activities as required by Client Solutions Team Leads.
Responsible for the review of all historic data entry and reconciliations during client
o Responsible for management of Limerick team members and tasks to meet continuous client
deadlines and milestones during onboarding process.
• Responsible for adherence to selective client service level deliverables as documented in the
respective SLDs and as specified by FOS-Chicago for Limerick support.
• Responsible for detailed management of client investment data:
o Investment transactions (typically statement based for alternative assets; file based for public
o Investment valuations (typically statement based for alternative assets; file based for public
o Cost basis analysis, cash movement, pricing, gain and loss analysis, account and position
o Alternative investment manager estimates
o Plan income / expense items
o Plan contributions / spending withdrawals
o Underlying manager exposure data
o Benchmark data
o Alternative investment performance data
• Responsible for oversight of all investment reconciliations, including reconciliation of cash, positions,
performance, transactions, alternative investment metrics (unfunded commitments, etc.).
• Responsible for oversight of NAV, allocation and underlying client performance for alternative
• Hosts weekly team meeting to review activity and all data and performance results with FOS-Chicago
Client Solutions Team Leads.
• Hosts monthly meeting with Operations Leadership to review activity, productivity, and opportunities
• Creates materials and conducts ongoing training activities for FOS-Limerick direct reports - initial
training and ongoing.
o Creates training materials and leads training sessions on daily operational activities as well as
system capabilities. Receives support from FOS-Chicago on materials and demonstrations.
• Participates in ongoing process improvement discussions where feasible including:
o Process improvement through technical skills development.
o Development of procedures and operational documentation.
o Ongoing Front Office Solutions program build. Required Knowledge/Skills:
• Experience working with complex asset owners including Endowments, Foundations, Family Offices,
OCIOs, Pension Funds, Sovereign Wealth Funds, and institutional asset managers.
• Strong understanding of institutional investment industry, including markets, instruments, funds and
fund structures, trading, etc.
o Deep knowledge of alternative assets and related operational processes (hedge funds,
private equity). Demonstrated understanding of private equity transactional impacts on
unfunded commitments, market value, cost, and other metrics typically associated with
private equity (TVPI, DPI, PIC, etc.).
• Experience managing an investment operations team.
• Deep understanding of investment operational processes, transactional impacts, cash movement,
accruals, and valuation methodologies.
• Deep understanding of accounting/reporting methods, including IBOR, ABOR, TrueNav, to support
complete and accurate data capture.
• Knowledge of performance measurement concepts and standards including GIPS Standards.
• Understanding of benchmarks and benchmark calculations across multiple asset classes as well as an
understanding of the benchmark provider industry; understanding of blended benchmarks and
custom benchmarks and data management nuances.
• Prior experience with multi-asset class portfolio management software.
• Advanced understanding of Microsoft Suite (Excel, Word, PowerPoint, Visio), with particular emphasis
• Experienced in operational process improvement.
• Must be able to work closely and collaborate with internal stakeholders.
• Ability to prioritize, multi-task, and perform effectively under deadlines.
• Ability to handle multiple concurrent projects and to reconcile any conflicting priorities.
• Commitment to project success as it may require working unconventional hours during critical project
phases. Preferred Knowledge/Skills:
• Experience using VBA, Python or other programming language to format large data sets.
• Client servicing experience preferred. Qualifications:
• A College or University degree.
• A minimum of 7 years of institutional investment industry experience in the following fields:
o Performance Measurement & Investment Data Analytics (attribution, liquidity, and
o Alternative asset operations
o Investment Operations (analytics, reporting, fund or investment accounting)
o Fund accounting
o Financial reporting
o Investment account data reconciliation - accounting and performance
• Completion (or progress towards) of advanced credentials (CFA, CAIA, CPA, MBA) preferred.
• A genuine desire and capability to work in a fast-paced, professional, inclusive environment which
requires teamwork, well-honed problem-solving skills, frequent re-prioritization, deadline
management, ongoing and comprehensive communication, constant attention to detail, and a
commitment to continuous improvement and best practices. Working with Us:
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 ethical companies. In return, we will support you with your personal and career goals in a number of ways: Financial
- Life Assurance, Disability Plan, Pension/ Gratuity, Annual Pay Review Work Life Balance
- Flexible Work Options, Incremental Annual Leave, Community Volunteer Days Health & Wellbeing
- Private Medical Insurance, Active Sports & Social clubs (lunchtime and after-work groups), Employee Assistance Program Professional Development
- Clear Career Path, Education Assistance, Recognition Programme, NT University (wide range of online, virtual & in-house training options) and employee-led Business Resource Councils dedicated to diversity and inclusion initiatives. And Finally
We hope you're excited about the role and the opportunity to work with us.
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.