Entry-Level Asset Servicing – January 2022 Start
Northern Trust Asset Servicing business provides client servicing and middle/back office support to our investment manager client base. These roles serve our clients utilizing a variety of resources and applications, providing world-class service to those we partner with. See detailed department descriptions below.
Departments include, but are not limited to:
Asset Services – Investment Outsourcing Operations (Chicago, IL)
The Investment Outsourcing Operations (IOO) solution provides middle office operations efficiently so that asset management clients can concentrate on their core business. We offer a degree of customization, complexity, and associated intellectual property considerations when addressing middle office operations concerns.
- Acts as the primary contact for investment management firms on domestic and/or international trade communication and settlement issues relating to client accounts held at the Bank.
- Coordinates daily with investment managers regarding client account activities. Informs managers of any exceptions and proposed steps for resolutions.
- Identifies service efficiency enhancements, process improvements, and service delivery using creative and proactive measures.
- Researches and resolves processing inquiries and prepares correcting entries including reversals and rejects.
- Expected to use initiative but will refer more complex problems to supervisors/experts.
- Works effectively as a team member but also independently.
- Knowledgeable of the core aspects of the job.
- Working towards becoming proficient in all areas of the job.
Asset Services – Fund Accounting (Tempe, AZ)
Northern Trust provides clients an extensive suite of fund accounting services that leverage our history as a leading global custodian and asset servicer, and deliver both on scale and flexibility in assisting our clients with meeting their accounting requirements. Some of our services and capabilities include: Investment Transactions, Reconciliations, Expense Accruals and Payments, Supporting Income Accruals and Payments, Security Valuation, Control Center, Transfer Agency Interaction, and Net Asset Valuation.
- Calculate and deliver net asset values for various commingled fund products, including registered mutual funds, private equity, partnerships, hedge funds, fund of funds, and collective trusts.
- Provides performance data for individual manager portfolios through the processing and reconciliation of accounting in the appropriate system.
- Daily reviews of diversified transactions, performing maintenance on assigned accounts according to procedures, including checking and correcting discrepancies, verifying outside funds, and reviewing transactions.
- Audits investment reports, cash statements, and supplemental reporting to verify that data is correctly posted and transactions properly classified. Writes inquiries to resolve audit discrepancies.
- Verifies report schedules, ensuring that reports sent to clients are accurate and mailed within scheduled time frames.
- Run daily valuation audits and deliver valuation reports to clients.
- Investigate and resolve cash/position exceptions and tolerance breaches.
- Understand and reconcile asset life cycle events between the accounting system and custodians.
- Apply accounting and finance principles to numerous asset types.
- Demonstrate ability to work well in a team environment.
- First point of reference for day-to-day queries.
- Good verbal and written communication skills are required.
- Analytical and problem solving skills are required.
- Organizational skills are required.
- A College or University degree in Finance, Accounting, Economics and/or related area of study with an expected graduation date Spring 2021 through December 2021 (Start dates will be January 2022).
- Minimum cumulative GPA of 3.0 or higher.
Applicants must not now or in the future require sponsorship for employment visa status to work in the United States
At Northern Trust, we place a huge value on “fit” – our clients, the services we provide, the technology we create, and most importantly, the people we hire.
As an applicant to an Early Career role, we want to get to know you – what you value, how you solve problems, what you aspire to, and whether we’re a good “fit” for your skills and career goals. To help us understand your “fit” for a role with us we ask you to complete a few stages:
Stage 1 – Online Application.
Click on Apply for Job and complete your online application where we ask you for personal information, academic history and check your eligibility.
Stage 2 – Career eNTry online assessment.
Take a brief online assessment so we can identify key skills and attributes important for working at Northern Trust.
Stage 3 – Interview.
If you are selected to move forward in the process for the role you have applied to, you will then be invited to participate in interview(s) where we will ask you some competency/behavioral based questions and give you an opportunity to ask us some questions.
Keep an eye on your email, including your spam folders. We also recommend adding NorthernTrust@invalidemail.com and Campusrecruiting@ntrs.com to your safe sender list so you do not miss important emails.
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need reasonable accommodation for any part of the employment process, please email us at firstname.lastname@example.org.
Good luck, we are looking forward to learning more about you.