Senior Business Analyst (Derivatives) recruitment
The Company
Northern Trust Corporation, a multi-bank holding company based in Chicago, is a leading provider of custody, investment management, asset and fund administration, back office outsourcing, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide.
Northern Trust’s operational mission is to continue to build on its successes in Derivative processing for its growing hedge fund and outsourcing business while improving efficiency, enhancing regulatory capability and supporting existing custody business.
Department Overview
The CME Derivatives team supports Northern’s Global Custody and Operations Outsourcing activity across the full range of Derivative products (all asset classes), providing operational functions and interfacing between both clients and in-sourced derivative operational areas. Derivative Operations comprises teams covering trade support, processing and reconciliation.
As part of our continued expansion in the derivatives area we now have an opening for a Senior Consultant, Senior Business Analyst in the Change Management Execution Derivatives Team. This Business Analyst will be working in a global environment with virtual teams in North America, London, Bangalore, Melbourne and Brisbane and therefore needs to be flexible with respect to working times.
Northern is on-boarding several important global derivative clients and the process of making these clients operational within the Northern Trust environment needs to be managed closely with transparency regarding the inputs and outputs required.
Summary
As an experienced Senior Business Analyst you will aid the Derivatives Change Management Execution team (within the wider Change Management Group) in the following areas:
- Articulate business requirements by developing specifications for business processes and systems enhancements.
- Manage complex and critical projects from a BA perspective. Identification, definition and oversee one or multiple project phases.
- Interacts with management and staff of technology, product management, and operational areas in analyzing existing processes and procedures and to interpret how business needs may be better met.
- Assesses how automated functions will be integrated with overall business processes and technical systems.
- Establishes timeframes and monitors progress.
- Evaluates effectiveness of new system changes; coordinates testing of new systems and system modifications.
Major Duties
- Working with the PM and Change Management partners directly on new client initiatives. Manage client requirements through various NT channels to help this client achieve their goals within NTs capabilities. Where these capabilities are not up to expectations, to work to strengthen, build out, improve, or where necessary re-design and implement these improvements.
- Interact with technology, product management and operations to formulate and implement solutions to enhance existing services, create new client deliverables or improve processes. Identify impact of changes and processes on staff. Help facilitate acceptance of change through training and communication.
- To assist the PM (as required)in managing multiple projects to successful conclusion.
- To lead on analysis and implement of key Derivatives projects.
- Help implement ‘best practice’ techniques within the BA team and to work within the structure of the SDLC, BPLC methodologies. To learn from, document, and build procedures to help increase the skill level and professionalism within the team – and hence our effectiveness.
- To drive through controlled change. Be delivery focused.
- Review documents, existing procedures, and current processes and recommend where automation or improved processes can be implemented. Design or develop new procedures where appropriate.
- Prepare detailed system specifications for proposed automated processes and systems enhancements.
- Set and maintain project schedules (along with PM), monitor progress toward completion of projects and adjusts schedule or tasks as needed.
- Evaluate the quality and effectiveness of new processes, systems and/or modifications to existing solutions. Coordinate the testing of new systems and systems modifications.
- Determine vendor requirements, review and compare vendor services and products, and make recommendations to management.
- Provide strong analytical capabilities with experience in identifying control weakness and opportunities for enhanced process efficiency through higher levels of automation.
Knowledge/Skills:
- General technical knowledge of Derivatives Operations processing and tradeflow.
- Specific knowledge of at least one class of OTC Derivative Instruments (Pref Fixed Income, Commodities or Credit); pricing, life-cycle, risks, etc. Be able to articulate the main drivers behind a financial instrument and its cash-flows, trading cycle, risk reward profile, and why people trade these specific instruments. Experience of ETD a plus.
- Detailed knowledge of the Summit system. Experience of Summit FT and Summit ‘Must’ a distinct plus.
- Experience of the full Product/Project development lifecycle. From inception to closure.
- Excellent attention to detail
- Excellent organizational and time management skills
- Excellent communication skills both written verbal.
- Able to work constructively under time pressure.
- Able to establish, build and maintain strong and effective working relationships with individuals in virtual teams across the organization
- Able to present to Stakeholders and capture feedback in a structured manner
Experience:
- A numerate graduate with substantial related work experience as a Business Analyst/PM in Derivatives in Derivatives Operations or the Front Office.
- Previous Derivatives Business Analysis for an Investment Bank or other major Financial Institution.
Northern Trust will not be engaging with recruitment agencies on this vacancy.