Custody Operations Officer

Job Description

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.Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you would benefit from adjustments for any part of the employment process, please inform the recruiter to discuss your individual requirements.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.Role:Reporting to Manager Custody Operations, the Custody Operations Officer manages the account operator model on a day to day basis coordinating with both HSBC and SABB. The officer supports trade settlement process, corporate actions/income management, accounts administration and any other operational activities to support Custody Operations.Key Responsibilities:Trade Settlement Oversight

• Manage the Account Operator model on a daily basis
• Run daily/weekly client money and assets reconciliation, investigate and resolve any breaks, and escalate to management as and when required.
• Identify and report all trade mismatches, and coordinate with all stakeholders to resolve all issues
• Monitor and report all cash shortfall/excess, and coordinate with all stakeholders to resolve all issues.
• Oversee the daily net settlement obligation and communicate with SABB whenever required.
• Oversee the same/next day trade settlement and escalate to Client Services/Relationship Management as and when required
• Reconcile brokerage amounts and ensure the settlement account is zero prior to the next settlement cycle beginning.
• Active monitoring and timely reporting of exceptions
• Investigate exceptions upon identification to ensure timely resolution
• Escalate all issues where appropriate and ensure that all appropriate lines of communication are open at all times

Corporate Actions and Income Events

• Review and keep track of all corporate actions and income events on a daily basis
• Ensure all corporate actions and income events are captures, recorded and settled successfully
• Provide statistics and related commentary as required
• Own the resolution of all queries relating to events
• Communicate all progress and issues effectively to the required audience
• When appropriate, escalate issues or concerns

Accounts Management

• Review and validate all new accounts documentation and work with relevant stakeholders to address any missing documentation
• Work closely with Edaa, internal NT teams, Account Operator and Bank to open and setup new accounts and manage transition assets ensuring activities are completed in a timely and efficient manner.
• Manage any account maintenance required
• Able to serve as a key subject matter expert for Saudi market

Other Operational Responsibilities

• Review and update operational procedures to reflect all changes in the process
• Ensure that the SLA / KPIs are being performed in a timely manner
• Mentor and train other more junior level employees

Knowledge/Skills:

• University graduate with relevant degree (Finance or Business Administration is preferred)
• 3-5 years? experience in investment operations (custody operations is preferred) with fair knowledge of Saudi market
• Excellent Arabic and English communication skills
• Ability to multitask with excellent problem solving skills.
• Proven proactive approach having ownership of issues until resolution
• Analytical/problem solving through organisation and time management
• Good risk management and regulations knowledge/understanding
• The ability to operate independently or within a team

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 ReviewWork Life Balance ? Flexible Work Options, Incremental Annual Leave, Community Volunteer DaysHealth & Wellbeing ? Private Medical Insurance, Active Sports & Social clubs (lunchtime and after-work groups), Employee Assistance ProgramProfessional 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 FinallyWe 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.For further information, and to apply, please visit our website via the ?Apply? button below.

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