The Consultant will be responsible for the liquidity management of our self-clearing markets in CHAPS, CREST and T2S, along with other Nostro relationships. This will primarily include actively monitoring payment flows, ensuring that there is sufficient liquidity to facilitate settlement obligations, whilst minimising intraday liquidity usage. The Consultant will be working closely with Treasury and Credit Partners to mitigate risk and ensure that any "RAG Breaches" are reported to the Chicago Liquidity Team and ultimately the Regulators. The candidate will also be responsible for Funding arrangements and intraday monitoring of CREST, Euroclear and T2S and the calculation of Investments to be traded by Treasury for the EMEA region currencies.
The key responsibilities of the role include:
Manage intra-day liquidity by utilising the BoE Liquidity Savings Mechanism tool, facilitating both non-priority & priority payments whilst minimising usage.
Review payment flow values in CHAPS, meeting "Throughput" targets implemented by BoE.
Determine the drivers of GBP intraday liquidity usage, compiling monthly reporting to be used by the Chicago Liquidity team.
Liaise and co-ordinate with CHAPS Participants to effectively manage GBP settlement obligations.
Work closely with the Treasury Front Office and Credit to mitigate risk and ensure smooth transactional settlement across all EMEA currencies.
Analyse and review GBP Bilateral Participant limits, recommending/adjusting post analysis.
Calculate and monitor Crest positions within each PID and make necessary funding/CAP arrangements to facilitate both DBV & DVP settlement.
Management of T2S activity by utilising Central Bank and Internal systems, to include Hold & Release functionality, Limit Utilisation and, T+1 Forecasting. Seek Credit approval where necessary to aid in transactional settlement.
Proactively identify any potential liquidity issues, liaising with internal and external parties to mitigate any settlement risk.
Calculate currency investments to be traded by London Treasury.
Re-balance nostros through accurate Funding transfers, avoiding any unnecessary closing balances attracting both charges and potential regulatory breaches. To include Eurozone and Euroclear markets.
Retrospectively analyse Funding and Investment decisions, putting in place any remedial action(s) to aid in future decision making.
Perform regression testing to ensure front to back transactional flow.
Proactively look to re-engineer processes to improve efficiency and controls.
Identify opportunities to increase revenue.
Assist in the preparation of daily and monthly reporting to be used by Partners and Regulators.
Compile P&L reporting, analysing deltas and provide commentary to management and Finance.
Keep Procedures up to date, ensuring that any changes are captured accordingly and communicated to management.
Provide team functional support.
Keep abreast of developments within the banking environment, to include but not exhaustive; Liquidity constraints, Throughput, Regulatory changes.
Monitor Agent Bank interest terms.
Perform Agent Bank interest reconciliation vs. closing balances.
Participate in occasional weekend testing.
Perform team oversight, actively monitoring and managing intraday liquidity to ensure smooth transactional settlement whilst minimising usage where possible.
Verify Partner Funding and Investment arrangements in self and non-self-clearing markets.
Demonstrated understanding of Global Custody and/or related Securities Industry Cash processing.
Full understanding of Cash liquidity.
Independent decision making, takes ownership for own actions and outcomes.
Sets priorities and manages competing deadlines, proven organisational skills.
Escalates issues where necessary.
Demonstrates innovative approach to problem solving.
Solid analytical/research skills.
Communicates effectively with staff/managers at the appropriate level.
Demonstrates team approach; supporting others.
Able to work in a changing environment; recognises opportunities for improvement and makes suggestions.
Willing to work additional hours as needed to meet team objectives.
Cash Management Experience - preferably with some exposure to correspondent position analysis.
Global Custody experience and Treasury support functions
Significant Excel skills, including maintaining complex databases and spreadsheet development.
About Northern Trust
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.
Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion.
As of September 30, 2018, Northern Trust Corporation had:
$10.8 trillion in assets under custody/administration
$8.2 trillion in assets under custody
$1.2 trillion in assets under management
$132 billion in banking assets
Internal Number: 4921778
About Northern Trust
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