Fiduciary Sr. Account Manager, GFO

Northern Trust • Chicago, IL

4d • Onsite

About The Position

The Global Family & Private Investment Offices team (“GFO”) is a sales and client servicing group, within the Wealth Management division, specifically dedicated to supporting ultra-high net worth individuals and families (>$200m of investable assets), their charities and foundations. Given their wealth, these families act like institutions but require a personal and high touch approach, as well as the highest level of discretion. Our families' wealth is mixed in nature with some being multi-generational inherited wealth and some being new entrepreneurial wealth. With the diversity of their investments, they often take a broad range of products and services from Northern Trust including asset servicing (custody), fiduciary, fund administration, investment management and banking/credit. The Account Manager owns coordination of banking/custody/fiduciary/investment administration for complex Wealth Management clients. Anticipates and identifies client needs and handles client inquiry resolution. Coordinates set-up of account services and monitors client reporting. Serves as main liaison for the client service team; working with key partner areas supporting client requirements. Identifies service efficiencies and process improvements; using creative and proactive measures. Acts under general supervision (but works independently a majority of the time). Completes review and obtains necessary approvals/guidance on transactions and/or documentation items.

Requirements

• Knowledge of trust/banking products and services, including industry knowledge, usually acquired through related work experience is required to service client and administrative needs.
• Organizational and time management skills are necessary in order to monitor consistent flow of requests in a daily deadline, time-critical environment.
• Excellent verbal and written communication skills are required.
• Critical thinking, analytical and problem-solving skills are needed to identify and resolve client inquiries.
• Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future.
• Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Nice To Haves

• A College or University degree and/or 4-8 or more years’ relevant experience in trust/banking operations experience is preferred.
• Client servicing background and proven work record.

Responsibilities

• Works with bankers, relationship managers and account managers to support daily client banking needs; supporting all banking products and services.
• Acts as banking subject matter expert.
• Processes daily transactions as required by the client including, but not limited to, communication of complex loan pricing, loan borrowings, loan payments, requests for funds under established lines of credit.
• Independently creates and implements complex banking structures, including treasury management services.
• Assists with onboarding of new clients.
• Direct set up of various types of client accounts and services.
• Keeps abreast of all new products/services to respond to client inquiries and assist in selling services.
• Is well versed in the compliance requirements for new accounts/relationships.
• Monitors compliance reports for adherence to policy and procedures.
• Interacts with partners in various operating areas to ensure accurate processing, to resolve issues and to research client inquiries.
• Represents team at National Loan Services and Regional Banking meetings.
• Manages client account administration which may include a focus on complex asset servicing, trust administration, banking, investment manager or consultant activities.
• Acts as asset servicing subject matter expert.
• Independently coordinates the daily execution of client requests, communicating progress status with clients, vendors and the internal service team, regularly.
• Works with relationship managers to ensure appropriate and necessary documentation is received and maintained.
• Able to anticipate and identify clients’ needs related to service requests and integrate knowledge of organization to meet/exceed these needs.
• Works with relationship managers in developing/identifying additional business, preparing for client meetings and coordinating the service team.
• Ensures accurate set up and review of fees.
• Expected to use initiative to research initial issues, but can then refer complex problems to managers/experts.
• May have direct interaction with committees, clients and/or Senior Management.
• Able to serve as key subject matter expert and mentor to other more junior level employees.
• Carries out complex activities with significant financial, client, and/or internal business impact.
• Creates and maintains internal documented procedures for assigned client relationships, including special procedures.
• More technically sound in area of expertise and has broader knowledge of other areas.
• Delivers a work product that requires less revision.
• Able to facilitate discussions and reach decisions.
• Works effectively as a team member but also independently.
• Works toward becoming proficient in all areas of the job.

Benefits

• retirement benefits (401k and pension)
• health and welfare benefits (medical, dental, vision, spending accounts and disability)
• paid time off
• parental and caregiver leave
• life & accident insurance
• other voluntary and well-being benefits
• discretionary bonus program that may include an equity component

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Associate degree