Depositary Officer

at  Northern Trust Corp

About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
Role/ Department:
Northern Trust offers Depositary services out of eight international locations in Europe, which oversee over 2 500 funds with a total invested value exceeding USD1 400bn. The business in Norway was launched in 2021 and currently have a team of 4 people that provide oversight and service to local Norwegian fund clients. The team works closely with resources located in our other international locations, which include important fund domiciles such as Luxembourg and Ireland, and our Nordic office in Stockholm.
We are now seeking an individual to join the Norwegian Depositary team. As a Depositary Officer you will join our small and dynamic team that service the local clients that include one of the largest fund managers in Norway. You will gain international experience, be exposed to a broad set of responsibilities and work closely with our operations and our clients. In the role you will play an important part in ensuring that our local regulatory and client obligations are upheld, which would involve daily monitoring and analysis of the compliance programmes for our investment fund clients, day-to-day interaction with clients providing advice and discussing matters of interest, and also engagement in local and regional projects. At Northern Trust you will have the opportunity to daily interact with different jurisdictions as well as taking part in building and growing our local business. This is a great opportunity to accelerate your career by being part of a dynamic international team that offers broad exposure both international and Norwegian fund industry.
This is an opportunity to operate in an entrepreneurial environment, with the support of a global financial institution.

The key responsibilities of the role include:

• Take part in the day-to-day responsibility for the local depositary business, ensuring all Fiduciary and Depositary obligations are met through:
• Monitoring, review and analysis of daily, weekly and monthly checks to ensure investment fund clients are compliant with the regulatory requirements
• Interacting with internal teams that provide administrative support
• Taking part in overseeing and reviewing relevant third parties
• Building client relationships with a view to understanding their business, ensuring high touch service
• Identify and act upon any opportunities to improve processes and way of working
• Assist with the onboarding of Depositary new business and client change
• Support in relevant Depositary governance forums in the EMEA region
• Maintain and update procedures in line with expected risk requirements and ensure that current Service Level Descriptions are monitored and met
• Be a team player, able to multi-task and work with due skill and attention to detail
• Keep up to date with internal and external market developments in the Regulatory field

Skills/ Qualifications:

The successful candidate will benefit from having:

• A ‘can do’ attitude – including a willingness to tackle a broad range of work and to work enthusiastically within a team
• Ability to work under pressure and to represent Northern Trust professionally and positively, both internally and externally
• Personal confidence and flexibility to work in a “start-up business unit” and the flexibility to undertake the variety of tasks required to build out the proposition and win and support client mandates
• Client focused and display effective communication in both Norwegian and English
• Higher education at university level with strong credentials
• 2-3 years relevant experience from a financial services firm, ideally a Norwegian Depositary provider, an asset manager or with a service provider of regulated investment funds.
• Experience in compliance, fund accounting, custody, risk management and transfer agency are all transferrable to the role.
• Strong Microsoft Office capabilities

Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
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 sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at
MyHRHelp@ntrs.com
.
We 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

• Take part in the day-to-day responsibility for the local depositary business, ensuring all Fiduciary and Depositary obligations are met through:
• Monitoring, review and analysis of daily, weekly and monthly checks to ensure investment fund clients are compliant with the regulatory requirements
• Interacting with internal teams that provide administrative support
• Taking part in overseeing and reviewing relevant third parties
• Building client relationships with a view to understanding their business, ensuring high touch service
• Identify and act upon any opportunities to improve processes and way of working
• Assist with the onboarding of Depositary new business and client change
• Support in relevant Depositary governance forums in the EMEA region
• Maintain and update procedures in line with expected risk requirements and ensure that current Service Level Descriptions are monitored and met
• Be a team player, able to multi-task and work with due skill and attention to detail
• Keep up to date with internal and external market developments in the Regulatory fiel