For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.As of March 31,2019, Northern Trust Corporation had:$10.9 trillion in assets under custody/administration
$8.2 trillion in assets under custody
$1.2 trillion in assets under management
$122 billion in banking assetsFinancial ReportingThe Financial reporting team is responsible for the preparation of quarterly, semiannual and annual financial statements for our clients, in accordance with applicable regulatory guidelines (for example, in the case of US Financial Reporting, the statements are produced in accordance with GAAP for a diverse population of registered (SEC), and non-registered funds such as common and collective trust funds, partnerships and hedge funds). Financial reporting also provides internal and external clients with assistance related to the annual audits and/or interim regulatory filings, board reporting and other ad hoc support.The Financial Reporting teams in NOSAI will be responsible for Financial Reporting deliverables for clients in countries including Australia, U.S, Ireland, UK, Guernsey, Switzerland and Luxembourg.Role Overview
The job holder is responsible leading/managing a team of Financial Reporting professionals (Analysts, Senior Analysts and Technical Coordinators) consisting of 6-10 full time employees. The job holder has responsibility for the team’s training, performance management and performance in the preparation and review of financial statements, schedule of investments, significant acquisitions and disposals and explanatory notes on the same (including preparation and review of tax reporting data due to tax agents), for mutual funds, hedge funds and/or fund of hedge fund clients.
Financial statements are prepared on a cyclical basis (for example; quarterly, semi-annual or annually) depending on the team in accordance with regulatory guidelines in the home country (for example: Australia, Guernsey, UK, Ireland, Luxembourg, Switzerland and U.S). The preparation is based on a set processes and procedures and the job holder will be required to adhere to these processes in completing day to day tasks.
Once financial statement is prepared, the jobholder will be responsible for reviewing the work of more junior team members including, analysis and research for any discrepancies before the statement is issued to the home country for review. The Technical Coordinator will then oversee and review any required corrective work as identified and communicated by the home country before closure.
Due to the cyclical nature of the activities, it is anticipated that there will be peak periods of work and the job holder may be required to undertake additional working hours to ensure tasks are completed to the appropriate deadlines.
The job holder is will have leadership responsibility for assigned team and processes including planning, allocation and review of work within defined timescales.Responsibilities
Performing quality assurance checks on information received internally from other supporting functions. Close attention to detail required.
Responsible for maintaining the team’s Key Performance Indicators (KPIs) as per the agreed Service Level Document (SLD) with home country.
Work closely with counterpart in home locations to resolve queries
Create, maintain and update procedures/processes
Ensure compliance with all controls and procedures outlined in the procedures manual and general company policies
Review and sign off on reports, accounts and tax related work of other team members
Work closely with the Manager(s) and stakeholders across Northern Trust locations through the various stages of transitions and on-boarding of processes in Manila seamlessly, as per the transition plan.
Ensure all scheduled work is completed by agreed deadlines, checklists are signed and files are complete
Identify and implement process improvements to reduce risk and develop efficiency of function
Ensure that technology available is being fully utilized in the most efficient manner
Ensure full and proper reporting and escalation of any operational issues
Escalate and communicate any service delivery issues (for example, late reporting) as identified
On-going review of daily controls and communications of suggested procedural changes
Assist with recruiting, training and coaching of new team members
Assist the Manager(s) in the production and enhancement of revised departmental procedures for use as training tools
Work with the Manager(s) to continually assess the team’s processes to improve efficiency, reduce risk and/or cost, as well as to increase the engagement and motivation of staff.
Manage the allocation of the workload in a fair and efficient manner
Review work status on a regular basis and develop priorities
Provide leadership of team and across other groups by sharing knowledge as appropriate.
Provide objective and regular feedback to team members
Conduct performance review and appraisal of team members
Working closely with Manager(s) on various processes/projects, such as being assigned to take the lead and/or assist to implement new processes in order to help the team be successful in its goals and KPIs.
Additional tasks that may from time to time be required which are appropriate to the role and business requirementsKnowledge/Skills
Strong leadership skills
Knowledge of accounting and regulatory concepts, financial instruments and products acquired through studies and related work experience
Excellent desktop, IT and systems skills. Experience of Sungard InvestOne fund accounting platform or Confluence/FundARC Suite financial reporting systems advantageous. Knowledge of Microsoft Excel and Word essential Knowledge of AUS GAAP, US GAAP, UK GAAP, Irish GAAP, Lux GAAP, Swiss GAAP & IFRS through studies and/or work experience (preferred)
Knowledge of related systems: Bloomberg, Reuters (preferred)
Excellent interpersonal skills, as this role requires interaction at all levels of the organisation and externally.
Experience and Qualifications
6 - 8 years of financial statement preparation or financial reporting in an audit firm, hedge fund, mutual fund or financial institution
Bachelor’s degree in Accounting or Finance
Certified Public Accountant (CPA) is highly desirable
People management experience gained within a financial services organization
Background in regulatory / statutory reporting will be preferred
Experience on transitions/consolidation of various systems and completing necessary reconciliations (preferred)
Experience on tax and regulatory reporting (preferred)
