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Custody Service Manager

2 months ago

Chicago, Illinois, United States Northern Trust Full time

About Northern Trust:

Northern Trust, a leading global financial institution, has been a trusted partner for over 130 years, providing innovative financial services and guidance to the world's most successful individuals, families, and institutions.

We are committed to delivering exceptional service and expertise, built on a foundation of service, expertise, and integrity. With a team of over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

Job Summary:

The Custody Service Division Manager will oversee one or more Custody Client Service teams, ensuring high-quality service delivery to clients and appointed investment managers. This role requires strong leadership and organizational skills to develop periodic goals and motivate team members towards achieving set objectives.

Key Responsibilities:

  • Collaborate with clients, Relationship Managers, and the Shared Service team to deliver organizational solutions and meet the evolving needs of North America (NA) Custody clients.
  • Provide guidance to staff and foster an environment that encourages employee engagement, teamwork, and communication.
  • Develop and execute a Client Service Team Operating & Action Plan to improve service quality, operating efficiency, and team effectiveness.
  • Build effective relationships with Relationship Managers, Shared Service Managers, and NT support groups.
  • Implement an effective onboarding experience for new Partners and Managers.
  • Develop staffing and succession plans.
  • Define performance standards, conduct performance reviews, and handle salary administration for individuals and Managers.
  • Create and negotiate Service Level Agreements (SLAs), measure service delivery against SLAs, and take corrective actions where needed.
  • Generate, interpret, and action Management Information Statistics (MIS) metrics; monitor key metrics for trends and act accordingly.
  • Develop, document, maintain, and improve process flows, operating procedures, and controls.
  • Champion business and technology enhancement initiatives.
  • Ensure appropriate operational controls to manage and mitigate risk to Northern Trust.
  • Perform cost-benefit and impact analysis related to new client service requests.
  • Serve as a point of escalation, maintain, and monitor issues log, chair weekly/bi-weekly issues meetings, and work to promptly resolve client servicing issues.
  • Responsible for creating and reporting on client satisfaction.
  • Schedule or support Quarterly Service Reviews, Due Diligence meetings, and other client meetings as required.
  • Provide strategic direction for delivery of business function activities and overall client satisfaction.
  • Ensure internal and client issues are communicated and escalated in a timely manner.

Requirements:

  • Extensive industry subject matter expertise enabling them to understand the needs of complex and large clients.
  • Extensive technical knowledge of financial services, asset management, and investment operations.
  • Excellent communication skills (verbal, non-verbal, and written).
  • Proven leadership and organizational skills to develop periodic goals and motivate team members towards achieving set objectives.
  • Proven analytical and problem-solving skills.
  • Highly flexible and adaptable to change.
  • Demonstrated success in coaching and developing individuals at multiple levels in an organization.
  • A college or university degree or relevant work experience.
  • Prior experience in a managerial role.
  • Prior experience in Financial Services, Asset Management, and/or Investment Operations.
  • Previous client management and client service experience in a service-oriented environment.

Working with Us:

At Northern Trust, we value an inclusive workplace and understand flexibility means different things to different people. We are committed to working with and providing reasonable accommodations to individuals with disabilities.

We hope you're excited about the role and the opportunity to work with us. Apply today and talk to us about your flexible working requirements and together we can achieve greater.