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 16,500 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 June 30, 2018, Northern Trust Corporation had:
$135 billion in banking assets
$8.1 trillion in assets under custody
$10.7 trillion in assets under custody/administration
$1.1 trillion in assets under management
Responsible for assisting client service managers and relationship managers in maintaining designated cash liquidity levels for trust clients. Assists clients regarding questions on direction letters for cash movement and trades. Trains and assists clients regarding the Web Cash Movement and Trade Order Entry Systems. Serves as a liaison between trust administration and operations, determining which areas (special assets, traders, trade processing, investment management liaison, information delivery, wire services, etc.) need to be contacted to complete the trade and appropriate account record-keeping.
The key responsibilities of the role include:
Notifies client service manager or relationship manager and overdraft adjustment group of overdrafts greater than $1,000,000.
Initiates company stock trades, mutual fund, commingled fund NTQA, GIC, limited partnership, Foreign Exchange and Northern Fund trades through appropriate bank areas from client direction meeting all internal deadlines.
Completes rebalancing of funds for Defined Contribution and Defined Benefit Clients per client's standing letter of direction.
Responds to client requests for account information or initiates transactions requested by client or administrators. Assists account or relationship manager with transactional/events related to cash.
Advises clients of gifts and valuations received daily.
Monitors client account reports to determine if trade or cash movement is required, such as the zero balance account, miscellaneous wire and closed account reports.
Confirms incoming/outgoing wires per administrator's request.
Open and closes accounts on the trust system; initiates request for vendor identification numbers to update client's accounts.
Maintains documentation and procedures for processing client accounts.
Maintains cash spreadsheet for closed accounts.
Performs WEBEX or face to face Demos on the WCM/TOE systems for new clients.
Identifies recurring activity in daily processing that could lead to corporate liability; recommends changes to limit liability.
Interacts with partners on a daily basis to receive and communicate information of all aspects of a client relationship.
Assists client service manager and relationship manager with special projects as needed
The successful candidate will benefit from having:
1-3 or more years of operations or trade processing experience
In depth knowledge of corporate operational and record-keeping areas to determine appropriate transaction processor, usually acquired through related work experience, to ensure timely processing.
Knowledge of trust products and services usually acquired through related work experience to service client and administrator needs.
Mathematical, analytical and PC spreadsheet skills are required to process and maintain cash analysis.
Ability to work in time-critical environment and time management skills are needed to maintain daily balance requirements, and reduce financial risks.