Specialist - Custody Operations

2 weeks ago

Riyadh, Ar Riyāḑ, Saudi Arabia Northern Trust Corp. Full time

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:


Reporting to Head of Operations/Custody Operations team leaders, the Custody Operations consultant manages the day to day BAU activities in custody world.

He/She will support trade settlement process, corporate actions/income management, accounts administration and any other operational activities to support Custody Operations.


  • Ownership and accountability for ensuring delivery of assigned tasks
  • Responsiveness to internal and external queries.
  • To contribute to the operational efficiencies and controls of the department ensuring these are in line with firm's standard.
  • Lead automation initiatives in conjunction with local and global resources to support processes within operations
  • Ensure adequate controls over finance related activities (Asset Servicing Loss
  • ASL management)
  • Manage engagement with local brokers, counterparts, agent banks and market authorities (depository, Stock Exchange, Clearing House) through effective relationship management
  • Work with staff to develop their knowledge, skills through individual coaching as well as a high level of teamwork.
  • Be aware of the operational risk scenarios associated with the role and act in a manner that takes account of operational risk considerations
  • Manage incidents through timely escalation and reporting of issues.
  • Work with client services teams across the globe to assess and agree to client service levels and exception handling.

The key responsibilities of the role include:

  • Manage and supervise a small team for the service delivery of custody operations on a daily basis
  • Run daily/weekly client money and assets reconciliation, investigate and resolve any breaks, and escalate upwards as and when required.
  • Identify and report all trade mismatches, and coordinate with all stakeholders to resolve all issues, Monitoring, checking and reporting all cash shortfall/excess, and coordinate with all stakeholders to resolve all issues.
  • Ensure the delivery of reconciling brokerage amounts and the settlement account is zero prior to the next day settlement cycle.
  • Escalate all issues where appropriate and ensure that all appropriate lines of communication are open at all times
  • Act as a checker for all makers in validating and checking all new accounts documentation and work with relevant stakeholders to address any missing documentation and 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.
- maintain any account maintenance required

  • Ensure the delivery of reviewing and keep track of all corporate actions and income events on a daily basis and Ensure all corporate actions and income events are captures, recorded and settled successfully. Provide statistics and related commentary as required and Own the resolution of all queries relating to events
  • Review and update operational procedures to reflect all changes in the process and Ensure that the SLA / KPIs are being performed in a timely manner
  • Undertake ad hoc assignment as directed by line manager

Skills/ Qualifications:

  • Excellent English communication skills
  • Ability to multitask with excellent problem solving skills
  • High level integrity
  • Proven proactive approach having ownership of issues until resolution
  • Analytical and problem solving through organization and time management
  • Good risk management and regulation knowledge/management
  • The ability to operate independently or within a team

Educational Background

  • University graduate with relevant degree (Finance or Business Administration is preferred)
  • Language Requirements
  • He/she will preferably be fluent in English and Arabic.

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.


Reasonable accommodation:

We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means diff

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