Account Manager, GFO Fiduciary (Finance)
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.
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.
The Global Family & Private Investment Offices team ("GFO") is a sales and client servicing group, within the Wealth Management division, specifically dedicated to supporting ultra-high net worth individuals and families (>$200m of investable assets), their charities and foundations. Given their wealth, these families act like institutions but require a personal and high touch approach, as well as the highest level of discretion. Our families' wealth is mixed in nature with some being multi-generational inherited wealth and some being new entrepreneurial wealth. With the diversity of their investments, they often take a broad range of products and services from Northern Trust including asset servicing (custody), fiduciary, fund administration, investment management and banking/credit.
The key responsibilities of the Fiduciary Account Manager, GFO include:
The Fiduciary Account Manager will also:
Coordinating the account administration for wealth management clients. Maintains the account including record keeping, responds to client inquiries, produces reports and oversees transaction processing. Assists Trust Advisors in developing additional business, making client presentations, and coordinating servicing team.
1. Coordinates the daily servicing of Fiduciary wealth management clients which may include a focus on their asset servicing, trust administration, banking or investment management activities.
2. Receives service requests from clients and partners; coordinates or executes daily client activity, oversees transaction processing, handles inquiry resolution, obtains appropriate documentation necessary for the completion of account reviews, and ensures systems information is up to date.
3. Oversees development of appropriate action plans for client activities and ensures execution and follow-up.
4. Coordinates with servicing team on execution of client activity, communicating with client and vendors as appropriate.
5. Ensures accurate set up and review of fees.
6. Drafts discretionary memos in accordance with Trust agreement and collaborates with Trust Advisor for accuracy.
7. Documents services provided, specialized procedures, and ongoing written communications with client as appropriate in managing daily activity.
8. Develops clear understanding of clients' needs behind service requests and communicates to service partners. Obtains appropriate information from partners and client to facilitate service changes or transactions.
9. Identifies service efficiency enhancements, process improvements, and service delivery using creative and proactive measures.
10. 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.
11. Communicates with clients regularly to inform them of account set-up or status, document requests, or other information.
12. May research client records, contracts, agreements, legal requirements and relevant tax laws to respond to inquiries. Informs client of steps taken to resolve issues as they relate to the governing agreement.
13. Develops and maintains a working knowledge of various business applications critical to relationship management including client on-line tools.
14. Travels to client locations on a selected basis where revenue, new business opportunities and or servicing require a call.
The successful candidate will benefit from having:
• 2-3 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.
Salary Range:
$67,500 - 111,500 USD
Salary range is a good faith estimate of base pay. 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.
Working with Us:
As a Northern Trust partner, greater achievements await. 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.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
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 MyHRHelp@ntrs.com .
We hope you're excited about the role and the opportunity to work with us. 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.
