Manager, Payment Services

Northern Trust • Chicago, IL

1d • Hybrid

About The Position

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. Summary Responsible for managing a Payment Repairs / Cash Operations team accountable for the timely investigation, repair, release, and escalation of payment exceptions across multiple payment types and currencies, including ACH and CHIPS payments. Responsible for exception/escalation management received via workflows and other sources across entire team. Assist management with the successful identification, assessment, monitoring, and control of risk issues present within the group. Conducts performance management and career development processes, provides input for staffing and disciplinary actions The role has direct responsibility for ACH operations, ensuring accurate and timely processing of ACH items, resolution of rejects and returns, adherence to scheme rules, and effective management of associated operational and credit risk. Working Model: Hybrid We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Requirements

• Excellent written and verbal communication skills, with the ability to communicate clearly and influence effectively across Operations, Technology, Risk, and senior management.
• Working knowledge of multiple payment schemes, (e.g. ACH, CHIPS, CHAPS, Fedwire, SWIFT).
• Knowledge of ISO 20022 payment messaging standards, including implications for payment repairs, investigations, data quality, and downstream processing.
• In‑depth understanding of payment processing, repair, and exception management within a regulated financial services environment.
• Strong analytical and problem‑solving skills, particularly in assessing operational risk, error drivers, and control effectiveness.
• Proven leadership and organizational skills, with the ability to set clear objectives and manage teams operating in time‑critical and high‑risk environments.
• Strong influencing and negotiation skills, particularly when managing escalations, competing priorities, and risk‑based decision‑making.
• A College or University degree and/or relevant proven work experience is required.

Nice To Haves

• Related Industry qualification is preferred.

Responsibilities

• Supports the design, development, and implementation of system, process, and control enhancements impacting Payment Repairs / Cash Operations.
• Owns day‑to‑day management of payment repair, risk, and exception queues, ensuring timely resolution, prioritization against market deadlines, and effective escalation of issues.
• Assists management in the identification, assessment, monitoring, and mitigation of operational risks, including error trends, near misses, and incidents.
• Ensures appropriate staffing coverage, cross‑training, and resilience across all critical repair and escalation activities.
• Identifies gaps in the adoption of new processes, procedures, or control changes and leads remediation within the team.
• Conducts performance management and career development processes, providing coaching, training, and input into hiring.
• Sets short‑term priorities and medium‑term objectives; plans and allocates work to ensure accurate and timely completion of all processing and control activities.
• Acts as a subject‑matter expert for payment repairs, exceptions, and investigations, providing expert advice to partners, stakeholders, and management.
• Leads complex, cross‑functional, and high‑risk topics spanning Operations, Technology, Risk, and Client Servicing.
• Balances hands‑on operational oversight with contribution to strategic initiatives, change delivery, and future-state operating model design.
• Represents the function in governance forums, working groups, and management committees as required.
• Contributes to the development, implementation, and maintenance of functional programs, including control frameworks, KPI/KRI reporting, and operating cadence.
• Provides input into budget planning, resource forecasting, and cost management for the function.

Benefits

• Northern Trust provides a comprehensive benefits package including 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, and other voluntary and well-being benefits.
• Northern Trust also provides a discretionary bonus program that may include an equity component.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 5,001-10,000 employees