Sub-Custodian Network Fee Billing Analyst

  • Company

    Northern Trust

  • Location

    UK-London

  • Compensation

    Market

  • Position Type

    Permanent

  • Employment type

    Full time

  • Updated

    10 Nov 2009

  • eFC Ref no

    586936
Sitting within the Financial Control Section of Northern Trust the role will have responsibility for the Oversight , Reporting and Accounting of Sub-custodian Network Management expenses. Providing MI to Network to assist with fee re-negotiations. Control and Reporting of Cash exceptions assigned to Financial Control.

Principal Responsibilities

•        Monthly verification & validation of the fees invoiced by the Sub-custodians used by Northern Trust including oversight of the expense coding process recently offshored to Bangalore

•        Approval of payments and general ledger entries.

•        Ensuring all expenses are correctly recorded in the accounting system and that the Sub-custodians are paid on a timely basis.

•        Calculating accurate expense accruals using internal systems data.

•        Communicating with the Network Management group on any issues regarding the billing.

•        Analysing Expenses to assist Network in Fee Renegotiations and Fee Team Recoveries.

•        Preparing and posting journals into the accounting system

•        Monthly reconciliations of the general ledger including aged creditor analysis

•        Running monthly queries and preparing reports in relation to asset values and trade volumes

•        Collating information for profitability purposes

•        Assisting the Management Reporting team to prepare monthly commentaries on any variances to budget for inclusion into the monthly management accounting package.

•        Prepare detailed variance analysis to Senior Management on a monthly basis

•        Preparing monthly reports for inclusion on the NTRS internet site and for regulatory reporting

•        Monthly re-forecasting and annual budgeting of this expense.

•        Monitoring and assigning the cash exceptions for Financial Control. Ensuring items do not exceed 60 days old.

•        Producing monthly KPI information

•        Apply knowledge and experience to new situations and varied queries.

•         

Skills / Experience

• Part qualified CIMA/ACCA

• Strong attention to detail with emphasis on adhering to strict controls

• Ability to manage multiple tasks whilst prioritising accordingly

• Willingness to take on extra responsibility if needed

• Ability and confidence to work autonomously

• Ability to work within a team, assisting and providing cover when required

• Able to work alone, investigating ideas and achieving solutions.

• Strong Excel Skills

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