Fiduciary Account Manager

4 weeks ago

Chicago, Illinois, United States Northern Trust Corporation Full time

About Northern Trust:

Northern Trust is a leading global financial institution that has been in continuous operation since 1889. We 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.

We have a balanced hybrid working model to ensure you get the flexibility you need. The successful candidate will spend their time between working in the office and working from home.

Key Responsibilities:

1. Coordinating the account administration for wealth management clients.

2. Maintaining the account, including record keeping, responding to client inquiries, producing reports, and overseeing transaction processing.

3. Assisting Trust Advisors in developing additional business, making client presentations, and coordinating servicing team.

4. Coordinating the daily servicing of Fiduciary wealth management clients, which may include a focus on their asset servicing, trust administration, banking, or investment management activities.

5. Receiving service requests from clients and partners, coordinating or executing daily client activity, overseeing transaction processing, handling inquiry resolution, obtaining appropriate documentation necessary for the completion of account reviews, and ensuring systems information is up to date.

6. Overseeing development of appropriate action plans for client activities and ensuring execution and follow-up.

7. Coordinating with servicing team on execution of client activity, communicating with client and vendors as appropriate.

8. Ensuring accurate set up and review of fees.

9. Drafting discretionary memos in accordance with Trust agreement and collaborating with Trust Advisor for accuracy.

10. Documenting services provided, specialized procedures, and ongoing written communications with client as appropriate in managing daily activity.

11. Developing a clear understanding of clients' needs behind service requests and communicating to service partners. Obtaining appropriate information from partners and client to facilitate service changes or transactions.

12. Identifying service efficiency enhancements, process improvements, and service delivery using creative and proactive measures.

13. May monitor banking, investment, and trust operations and accounting activities to ensure that all necessary reports, documents, tickets, etc. are processed to facilitate client services.

14. Communicating with clients regularly to inform them of account set-up or status, document requests, or other information.

15. May research client records, contracts, agreements, legal requirements, and relevant tax laws to respond to inquiries. Informing client of steps taken to resolve issues as they relate to the governing agreement.

16. Developing and maintaining a working knowledge of various business applications critical to relationship management, including client online tools.

17. Travels to client locations on a selected basis where revenue, new business opportunities, and or servicing require a call.

Requirements:

• 1-2 years' experience in financial servicing/accounting fields, with client servicing background.

• Knowledge of the asset servicing, personal trust, banking, investment operations, and accounting systems usually acquired through related experience is needed to administer master trust and custody accounts.

• General business knowledge, including knowledge of accounting usually acquired through coursework, is required to oversee client transactions.

• Analytical, problem-solving, and organizational skills required to identify and resolve account issues.

Working with Us:

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at.

We value an inclusive workplace and understand flexibility means different things to different people. Apply today and talk to us about your flexible working requirements and together we can achieve greater.

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