Northern Trust

Pious14

I note that there are quite a few jobs available at Northern Trust at the moment- does anyone know what they are like to work for? Pay? Working hours? Conditions? Also most are on a contract basis, what are the chances of permanency?

Toffeeboy

Pious14 wrote: »

I note that there are quite a few jobs available at Northern Trust at the moment- does anyone know what they are like to work for? Pay? Working hours? Conditions? Also most are on a contract basis, what are the chances of permanency?

1. Nice to work for.
2. Depends on the level of experience.
3. Normally 9-5.15 (some start 8 to 4.15) I think 1 team do 3 to 11
4. Conditions?
5. Very good chance of being made permanent. Currently 600 staff. Plans to increase to 1,000.

Best to contact them directly rather than going through a recruitment agency. If you know someone working there. There is a finders fee to be earned.

Pious14

Thanks. Is there much overtime involved. What is the dress code?

Toffeeboy

business casual.
Jeans for Jul/aug.
Overtime depends on the department and time of year

myshirt

What exactly is involved in Fund Accounting on a day to day basis? What is the skillset required?

It sounds all snazzy, but to be honest I don't think I fully understand at all what a day in the life is like in a place like Northern Trust.

Iang87

Fund accounting is basically calculating the value of a portfolio at a given time. Normally they are daily funds and portfolios consists of stocks such as apple/microsoft. The point is to give the fund an individual price where investors can buy a share. i.e a fund is worth 100million and there are 1million shares then the price of 1 share is 100. An investor then buys whatever amount of shares at that price and hopes the fund price increases.

It is quite an automated process so you'll be using different systems to get the valuation.

Overall they're good to work for at times like anywhere its frustrating. The basic pay coming in at entry level for fund accounting is 20-23 k and increases then with internal promotions etc. They also have vhi so not terrible given its limerick and not dublin you're living in

ongarboy

Having a university degree is the standard minimum entry benchmark for most Fund Administration roles but companies like NT are known to take people with banking or finance experience but who may not have a degree. Also, some candidates with no funds experience (like myself when I started in another funds company) can be lucky to be offered a temp position by a recruitment agency and move to a permanent role as you have the opportunity to demonstrate to managers during such temp assignments, your ability, drive to succeed, people skills, analytical or problem solving skills etc that could otherwise have been overlooked by a HR rep when reviewing dozens of CVs to fill a permanent position.

The variety of roles in NT and similar companies means you can quickly move from Operations roles as explained in the post above to more project or analyst oriented roles once you start acquiring the subject matter expertise of the funds industry through an Operations role. You can quickly treble your salary and more if you show that you have ability and commitment to succeed. Promotional opportunities are fantastic as there are so many departments and organisational structures to transfer to or move up the ladder.