Senior Consultant, Transitions Team - Investment Operations

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Senior Consultant, Client Service - Investment Operations 

Northern Trust (NT) Investment Operations Outsourcing (IOO) provides Middle Office services and solutions to Investment Managers (IMs) across various functions, including trade matching, trade settlement, reconciliation, and reporting. The IOO North America (NA) New Accounts & Transitions (NA&T) Team is responsible for the coordination and execution of existing IOO NA clients’ new account set-ups and related transitions lifecycle events, including asset transfers, third-party set-ups & account maintenance, and other activities. 

At the Senior Consultant level within IOO, an individual is part of a client service or functional team that provides comprehensive, in-depth consulting, support and leadership to the team and business partners. The Senior Consultant carries out activities and projects that are larger in scope and more cross-functional and technically difficult. The role is balanced between high level operational execution and development, and implementation of strategic direction of business function activities. The Senior Consultant plays a key role ensuring service quality and is seen as a key advisor on significant business decisions.  

Within the NA&T team, the Transitions Coordinator (TC) is an external client-facing role within NA IOO that partners with various internal IOO and non-IOO functional teams to coordinate and execute the accurate and timely completion of client new account set-ups & transitions events. TCs act as event-driven project coordinators, as well as day-to-day client service representatives executing various tasks, duties, and responsibilities. The TC will work both individually and with other TCs, facilitating the execution of tasks and activities of client events across the team, as well as other assigned responsibilities. As TCs, Senior Consultants act and lead as advanced functional and client service professionals.  

Major Duties 
1. Responsible for providing client service through the execution of daily functions and tasks.  

2. Drive the development, maintenance and adoption of standard desktop procedures. 

3. Perform root cause analysis and escalate repetitive operational problems to management, works to resolve via formal action plan. 

4. Works effectively both as a team member as well as an independent, self-motivated individual. 

5. Responsible for multiple projects of various complexities. 

6. Assist with the on-boarding and training of new Partners, able to cross-train junior level Partners on other functions as well as provide back up. 

7. Serve as a key subject matter expert for both regional and global business optimization initiatives. 

8. Identify opportunities for improvement within existing technology applications while acting as a liaison with Partner areas to drive resolution. 

9. Serve as a coach and mentor to junior level Partners on both operational processes as well issue analysis and resolution.  

10. Ensure timely response to queries is provided by all team members. 

11. Independently build relationships with internal and client contacts. 

12. Responsible for understanding client's end-to-end process flows, business needs and deliverables. 

13. Resolve client issues or inquiries with limited input. 

14. Understand current Service Level Agreements (SLAs) that are directly related to job function(s). 

15. Mentor junior Partners on how to establish, build and maintain effective working relationships with key Partners internal and external to the organization. 

16. Drive the engagement of other Partners as appropriate to solve client inquiries/issues. 

17. Recognize impact of personal job function(s) on IOO peers and applicable shared services Partners to improve Business As Usual knowledge gaps. 

18. As an individual contributor, continue to build and maintain effective working relationships with key internal and external Partners.  

Additional Responsibilities and Activities of the Senior Consultant  

Functional – Acting both as an Executor and a Coordinator 
• Accurately perform all activities related to new account openings, account closings, and custodian changes in accordance with client Service Level Agreements (SLAs) and department procedures. 
• Ensure that operational procedures exist for all core processes and update existing procedures as business practices change. 
• Escalate items or issues that are creating roadblocks to process completion and/or threaten established SLAs. 
• Proactively identify and help implement process improvements to improve NT quality, increase NT productivity, reduce expenses and/or enhance the client experience. 
• Escalate and document client service requests which require manual support. • Update and maintain functional task & deliverable (FTD) list. 
• Train and/or mentor other team members on TDRs. 
• Review and update roles’ process flows and desktop operating procedures to improve their quality and usefulness. 
• Master the responsibilities of core functions and cross-train to learn additional functions. 

Client Service – Delivering Accurate and Timely Information 
• Meet all management and client timelines for successful transitions. Work with management as needed when a client-provided timeframe may need to be adjusted for any reason. 
• Acknowledge client communications within a reasonable timeframe and provide updates when relevant information is obtained and/or when requested. • Anticipate client and internal customer needs by asking follow-up questions and by providing all pertinent information to a situation. 
• Maintain real-time log of all client requests and events and update within required timeframes. 
• Track data and metrics, such as Issues Log and Key Performance Indicators (KPIs), Management Information Statistics (MIS), or scorecard reporting. 
• Identify and escalate potential risks to management by balancing strong client service along with protecting Northern Trust. 
• Partner with clients and other internal teams to deliver quality service that meets all SLAs and achieves targeted scorecard ratings.  

Continued Development – Ongoing Personal Learning, Risk Management & Process Improvements 
• Ownership of personal learning and expansion of day-to-day process knowledge, as well as a broad understanding of where the IOO Transitions role fits in the department as a whole. 
• Promote a positive team environment. 
• Gain an understanding of the client and its business model. 
• Ask questions of peers and management staff as needed to gain insight and additional knowledge when needed. 
• Promptly escalate concerns to your management. 
• Ensure completion of NT required training within 15 days of assignment, unless otherwise agreed upon with your management. 
• Work with teammates to expand knowledge of the other functional desks within the client service team. 
• Identify, lead and/or assist with the implementation of business process and/or technology enhancement effort(s) that seek to improve the quality of client service, close a product or service gap, increase team productivity or reduce the cost of service delivery. 
• Take an active role in helping to on-board a new Partner, cross-train an existing Partner, and/or share knowledge to help others become more knowledgeable, productive and effective in their role(s). 
• Create your professional development plan with review with your manager.
Knowledge / Skills 
• Excellent oral and written communication skills  
• Knowledge of financial services, asset management and/or investment operations 
• Analytical and problem solving skills 
• Highly flexible and adaptable to change 
• Attention to detail 
• Works with a sense of urgency 

• Personal enabler and self-starter with demonstrated ability to identify opportunities for continued self-development & adaptability to feedback; highly motivated and looking to be inspired. 
• Display leadership characteristics; able to adapt communication style to various audiences. 
• Self-confident and challenges the status quo by asking questions and seeking reasonable answers 

Experience Required 
• A college or university degree and / or a minimum of 5 years of relevant work experience  
• Previous Financial Industry Operations, Asset Management and/or Investment Operations experience a plus 
• Previous Client Service experience in a service oriented environment 
• Previous exposure to business process and/or technology enhancement initiatives 
• Experience handling day-to-day activities in conjunction with longer-term initiatives. 
• Experience both as a simultaneous executor and coordinator. 
• Advanced knowledge of Microsoft Outlook, Excel, PowerPoint, and Word. 
• Ability to handle and effectively manage extremely cyclical activity volumes and changing priorities. 
• Familiarity with Risk Management concepts and best practices  

Experience Preferred 
• Knowledge of Microsoft Visio and SharePoint 
• Data and Workflow Management experience 
• Knowledge of existing NT systems and platforms 
• Previous Change / Project Management experience 
• Extensive knowledge of the lifecycle of a trade. 

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.  

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater. 

As of September 30, 2018, Northern Trust Corporation had:  
$10.8 trillion in assets under custody / administration 
$8.2 trillion in assets under custody 
$1.2 trillion in assets under management 
$132 billion in banking assets

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