Take the job role and design both a personal specification and job description. Northern Trust is one of the world’s leading financial institutions. Since opening our doors in 1889, Northern Trust has stood as a symbol of strength and stability in an ever-changing environment. From modest beginnings in Chicago bustling loop, Northern Trust has grown to become a global institution facilitating business and managing family wealth in every part of the world.
Northern Trust stands for quality, and has been awarded KEMP Excellence Award for Fund Administration and the Custodian of the Year 2011(Gibbon Pension Awards). Frederick H. Waddled, Chairman and Chief Executive Officer, commented, “Revenue growth in the third quarter reflects a solid increase in trust, investment and other servicing fees. Assets under custody and under management increased 10% and 13%, respectively, versus last year, reflecting our success in winning new clients and serving existing clients, as well as higher equity markets.
Expenses increased as a result of the growth in our business, including recent office openings in Frankfurt, Germany and Riyadh, Saudi Arabia, ND continued investment to support technology initiatives and a growing set of regulatory and compliance requirements for our clients With over 700 employees based in Dublin and Limerick administering the most varied range of products in the Irish Market this company form a vital part of Northern Trust’s global presence.
As an organization that values the experience and knowledge of a diverse workforce, Northern Trust has developed and implemented Human Resource and bottom line strategies that support workforce diversity. Northern Trust believes that there are several key aspects f maintaining satisfied committed staff, including giving performance feedback, seeking employee opinions, training employees for new opportunities and offering competitive benefits and compensation. Northern Trust Ireland has been accredited with the prestigious ‘Excellence Through People’ Gold award for excellence in training and people development.
Now company is looking for a Fund accounting Supervisor. The role is responsible for accurately reviewing and sign off on NAVA calculations. To be the subject matter expert on the team for all fund specific requirements. To be able to take the lead in rolling out new yester enhancements/procedures and collate and provide feedback from Fund Accounting to the different interest groups Training/Pa’s. Job description are: Review and oversight of daily and monthly NAVA calculations Develop and maintain understanding of the industry, infrastructure and process of data flow.
Ensuring all reconciliation positions are reconciled and monitored Workflow management for a team of fund accountants Development of process improvement initiatives Resolution of any client or process issues Work closely with internal teams to ensure seamless new client take on and revive delivery Provide assistance to employees in execution of daily operational activities Manage audit process Focus on the resolution of complex transactions, where expertise is required to interpret policies, guidelines, and/or process.
Personal Specification: Detailed knowledge of Enterprise and related Fund Accounting Applications 1+ years fund accounting experience with supervisory/management exposure in fund services (ideally alternative investment funds) Track record of leading and developing teams from graduate level upwards Strong product knowledge Excellent communication and relationship building skills First class presentation and internal and external client servicing skills Experience of representing businesses to current client via presentation.
Experience of designing and implementing development plans, training plans, and succession plans for all level of staff Results oriented, ambitious, highly driven Ability to think and act creatively Relevant 3rd level degree required, professional level funds or accountancy qualification Question 2. Prepare a set of interview questions to establish a person/job fit. Here is a set of interview questions to establish a person/job fit. 1. What do you know about North Trust company? . Why do you want to work in our company? 3. What type of jobs you had? 4. What where your main responsibilities? 5.
Please define a NAVA (Net Asset Value) . How to calculate NAVA? 6. What is your preferred method of contacting our client/customer? 7. What do you consider to be your greatest strengths and weaknesses? 8. How do you work under pressure? 9. Describe your leadership skills? 10. In your opinion what is the best way to lead and motivate subordinates? 11. What was the most difficult project you worked on? How did you go about accomplishing it? 12. What would you do if you realize that you won’t be able to et a deadline? 13. How was your performance evaluated? 14. Did you run into any problem with your co-workers?
If so what did you do to remedy the situation? 15. What is your career plan for for 5 year from now? 16. Would you prepare to make a long term commitment to our company? 17. What is your long -range and short -range goals and objectives? When and why did you establish this goals? 18. Have you ever work with someone that did not share your same work style or work ethic? How did you get around that? Question 3. Consider the life style of an employee- from recruitment until they eave and describe, giving practical examples, based on, and caring appropriate theories how you would performance manage and motivate the employee. 1.
LIFE CYCLE OF AN EMPLOYEE Have you heard about Product life cycle? The same process very much applies to employee Life Cycle. The employee life cycle (LLC) is a human resources model that identifies stages in employees’ careers to help guide their management and optimize associated processes. 1 parts of the basic employee life Following diagram describes essential cycle: Need to Recruit -> Recruitment -> Employee Contract -> Induction & Orientation > Personal Development Programmer ->Management By Objectives – > Career Planning -> Knowledge Management -> Competency -> Courses and Administration Termination of Employment.
A) Recruitment: This stage includes all the processes leading up to and including the hiring of a new employee. E-recruitment software may be used to automate some of the selection process, for example filtering applications and resumes for b) “Onboard”: In this relatively brief stage, the employee is requirements. Added to the organization’s identity and access management system. The stage includes ensuring that the employee has access to any applications and systems that are required for his job. C).
Orientation: In this stage, the employee settles into the job, integrates with the corporate culture, familiarizes himself with co- workers and management, and establishes his role within the organization. D). Career planning: During the planning stage, the employee and management collaboratively develop objectives and goals. Personality profile assessments are sometimes used in conjunction with an evaluation of the employee’s performance to date. E). Career development: In this stage, the employee matures n his role in the organization. Professional development frequently involves additional training.
The challenges in this stage are employee engagement and retention. F). Termination: In this final stage, sometimes referred to as ‘transition,” the employee leaves the organization. The specific processes are somewhat dependent upon whether the departure is the result of resignation, firing or retirement. However, in any case, “forbidding ” is a feature – the employee is removed from the management system. Many organizations schedule exit interviews in an attempt to get useful input from the departing employee. . PERFORMANCE MANAGEMENT AND MOTIVATION.
Performance management (PM) includes activities which ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product of service, as well as many other areas. Performer management is also known as a process by which organizations align their resources, systems and employees to strategic objectives and priorities. 2 First of all any new employee to the company should be given goals according to he company’s strategic goals.
Goal specification gives a basic for performance management. This leads to the drawing up of personal plans with continuous monitoring and feedback supported by formal performance reviews . Employee appraisals are common in every type of organization, but how they are performed may vary. Many issue must be considered in determining how to conduct an appraisal. Most important issue are: Who does the appraisal, how often they are done, and how more interesting approaches for being used in many companies today is 360-degree feedback.
It is a performance management yester in which people receive performance feedback from those on all sides of them in the organization—- their boss ,their colleagues ,and their own subordinates. The feedback comes from all around them, or from 360 degree. This form of performance evaluation can be very beneficial to manager because it typically gives them a much wider range of performance related feedback then a traditional evaluation provides. 360- degree feedback often focused on such things as interpersonal relation and style. Another important issue is the frequency of appraisal.
The organization usually conduct performance appraisal n regular basic, once a year. Managers in international organization, as North Trust is, must incorporate cultural phenomena in their performance appraisal strategy. Measuring performance. The measuring method provide the information manager use to make decision about salary adjustment, promotion, transfer, training and discipline. Some of the most popular methods for evaluation individual performance are graphic rating scales, checklists, essays or diary and forced-choice system. Here is an example of co-worker evaluation form which can be used in our 360- degradedness. . MOTIVATION T. R. Mitchell defines motivation as ‘The degree to which an individual wants and chooses to engage in certain specified behaviors We can have a look on motivation in different aspects: is person specific – every person is unique is assumed to be intentional – a choice includes – what arouses people and the inclination of the individual to follow a given course of action is influenced by both internal (personal) and external(society) forces Why do people work? To satisfy needs. Needs such as: the need to earn a living the need to have satisfaction, the need to have security, the need to have self and peer respect.
What motivates employees? Theorists would suggest that it is a combination of drives, influences, and forces. What keeps existing employees motivated? Rewards, incentives, praise, training, prospects of promotion, professional and self – development, respect of employer, respect of employees and good working conditions and terms of employment. But, although this area of employee motivation has been the subject of research for years, no definitive conclusions have ever been reached on what motivates employees, especially in the long term.
Very often one can see if a good morale is resent in an organization. Equally one can see if an organization is troubled with poor or low morale. Some of the theorists we will consider are: Moscow McClellan Herbert McGregor Other areas that will be considered are: How work can contribute to employee motivation How job tasks and duties can contribute towards employee motivation Job enlargement Job enrichment Job rotation Management by Objectives Job appraisal and performance review Question 4.
Putting yourself in the role of employee new to the organization, consider how you will ensure you play an active role in the performance management process and ensure that you are gain the feedback you need to develop in your career and contribute to the organizations success. In order to identify my contribution to the overall business performance, I need to adhere to the structure of relationship between the employee and employer which consists of rights, duties and obligations.
All above information is governed by a legally binding agreement in a form of a Contract of Employment. This contract, however, does not indicate how an individual employee can make a positive contribution to the business performance. Main ways in which I will be trying to nutrition to my performance are: Consider the quality of the work produced by Consider the level of commitment shown by me Consider my overall effectiveness.
As a new employee I will strive to: Know and understand what is expected from me Know about performance management system in place and its schedule Gain skills and abilities needed to achieve performance expectations and further develop my career Would expect constructive feedback on tasks done to ensure efficiency Considering that I am playing active role in performance management process –performance review season is upon us. This presents an opportunity for employees to demonstrate their accomplishments and distinguish themselves and their value to the organization.
Here are some tips to make the process work for you and make it easier for your boss to write you a terrific review. Know your role If you are uncertain about any aspect of your job, seek clarification. A great place to start is a detailed list of job duties or, if it is available, an official job description, from your manager or human resources department. Take the initiative Many workers are missing important opportunities to maximize earning potential y not devoting more effort to their performance review or ensuring that they get a clear explanation of their goals and objectives.
Be an active participant in establishing your goals from the start, and make sure that they are meaningful. Each goal must be relevant to the work you do, have value, and be mutually agreed upon by you and your manager. Action plan Make your goals your mission for the year. Keep goals current, track progress and contributions, and update goals as appropriate to reflect any changes in your role or responsibilities. Remember that although goals are set to achieve retain work-based objectives, they can also yield personal rewards in the form of professional and developmental growth and greater earnings potential.
Keep track No one pays closer attention to your work than you do. The annual performance review, and the promotion or salary increase that often goes with it, can be enhanced significantly if you highlight your accomplishments clearly and make a case for yourself. Document your accomplishments along the way. Self-improvement Elf you don’t have access to the tools or training necessary to achieve a particular objective, be sure to ask. Your employer will see that you want to improve the quality of your work and are interested in professional growth.
Additional training will make you more valuable to the organization and set you up for the next step in your career. Check in Have an open dialogue with your boss throughout the year so you have a better sense of where you stand and how your progress is being perceived. Don’t leave all of this discussion for the annual review. Compile feedback Feedback from colleagues and customers is also valuable when you are preparing for a review. If someone sends you a thank you, keep it on file. If money says something complimentary, ask him or her to put it in writing.
