Wealth Management Head of Strategy

2 weeks ago

Chicago, Illinois, United States Northern Trust Full time
About Northern Trust

Northern Trust is a globally recognized, award-winning financial institution with a rich history dating back to 1889. As a Fortune 500 company, we pride ourselves on providing innovative financial services and guidance to the world's most successful individuals, families, and institutions. Our commitment to service, expertise, and integrity has earned us a reputation as a trusted partner in the financial industry.

Job Overview

The Head of Strategy in our Wealth Management business is a senior leadership role responsible for developing and executing the strategic vision and growth initiatives for the business. This role will work closely with the President and senior leadership team in Wealth Management to define the business' strategic objectives, identify opportunities for growth, and ensure the alignment of resources to achieve sustainable competitive advantages in the marketplace.

Key Responsibilities
  • Strategic Leadership: Develop and articulate the long-term strategic vision for the firm, aligned with corporate objectives, client needs, and market trends.
  • Market Analysis: Conduct comprehensive analysis of industry trends, market opportunities, and competitive threats, and translate these insights into actionable strategies.
  • Business Growth: Identify and assess opportunities for growth, including new markets, products, and service offerings. Develop business cases for strategic initiatives and lead cross-functional teams in their implementation.
  • Client Strategy: Collaborate with client-facing teams to design and implement strategies to enhance client engagement, deepen relationships, and grow assets under management.
  • Innovation & Transformation: Drive innovation in service delivery, client experience, and digital transformation. Lead initiatives that improve operational efficiency and create new value propositions for clients.
  • Partnerships & Alliances: Develop strategic partnerships and alliances with external stakeholders, including technology providers, financial institutions, and industry bodies, to enhance the firm's market positioning.
  • Strategic Planning: Lead the strategic planning process in close collaboration with the finance team and Office of the COO, including prioritization of initiatives, capital allocation, resource planning, etc.
  • Performance Monitoring: Establish key performance indicators (KPIs) and monitor the effectiveness of strategic initiatives, adjusting course as necessary to ensure success.
  • Reporting: Produce and manage an integrated quarterly report that provides a 360° view of the business unit's performance and health, including but not limited to BAU (business as usual) operational metrics, financial metrics, emerging risks, status, and accrued impact of the strategic initiatives, etc.
  • Risk Management: Identify and manage risks associated with strategic decisions and ensure compliance with regulatory requirements and ethical standards.
Qualifications & Experience
  • Education: Bachelor's degree in Business, Finance, Economics, or a related field. MBA or equivalent advanced degree strongly preferred.
  • Experience: Minimum of 10 years of experience in strategic roles within financial services, management consulting, or related industries.
  • Strategic Expertise: Proven track record of developing and executing successful growth strategies in a complex, competitive environment.
  • Leadership: Strong leadership experience, with the ability to influence and motivate teams across various functions.
  • Analytical Skills: Exceptional analytical skills with the ability to assess market conditions, analyze data, and make informed strategic decisions.
  • Communication: Excellent verbal and written communication skills, with the ability to present complex strategies clearly and persuasively to senior management and stakeholders.
  • Client Focus: Deep understanding and experience with shaping client-centric strategic priorities and service models.
Preferred Skills
  • Innovation Mindset: Experience in leading digital transformation initiatives within the wealth management space.
  • Relationship Building: Strong networking and relationship-building skills, with the ability to cultivate partnerships internally and externally.
  • Influence: Ability to influence stakeholders across levels in the organization and propel them to action even without direct reporting lines.
Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve. Join a workplace with a greater purpose and build your career with us.

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