Cost Allocation And Financial Analysis Specialist

Northern Trust Illinois , il

Posted 2 months ago


The role will work with a team responsible for the analysis, understanding and communication of revenue and expense allocations across Northern Trust This position will support activities as the team provides recommendations and analysis around costing and profitability. The individual must develop strong cross functional relationships with business unit finance teams to ensure collaboration and information sharing of all cost inputs to identify options and creative solutions to drive efficiencies.

The right candidate must be an effective business partner, clear communicator, and be able to juggle multiple priorities in a fast-paced environment. This position will report to the Costing & Profitability Manager.

Major Duties

  • Support projects and ad hoc strategic and financial analysis

  • Individual will lead and support new system requirements/enhancements

  • Assist in defining components of a unit cost and establish policy and reporting procedures

  • The individual will be responsible for establishing standard unit costs with each area during the planning process and ensure that roundtables discussions are held to walk forward any changes in the annual rates and volumes.

  • Proactively identify areas for process improvements, ensuring training materials, policies and procedures are kept up to date

  • Work with Business Unit leads to develop, execute and institutionalize complex value-add initiatives across the firm such as enhanced month-end reporting and better alignment in client and product profitability.

Experience Required

  • 8 or more years of cost allocation/financial analysis experience.

  • Experience in the Financial Services industry is a plus.

  • Bachelor's degree in Finance or Accounting

  • MBA, CFA or CPA a plus.

  • Cognos, Hyperion HFM, TM1 knowledge is a plus.

  • Coding/programming knowledge a plus.Individual must be able to support new costing application.


  • Ability to operate autonomously

  • Project management skills required

  • Intimate knowledge of cost allocation and experience with various platforms (SAP, Oracle, etc.) a plus

  • Must be a strong, independent worker with good attention to detail

  • Ability to coordinate internal resources across multiple projects and work streams

  • Demonstrated finance and strategic analysis experience

  • Excellent oral and written communication skills

  • Strong working knowledge of Excel and PowerPoint presentation skills

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 March 31,2019, Northern Trust Corporation had:

$10.9 trillion in assets under custody/administration

$8.2 trillion in assets under custody

$1.2 trillion in assets under management

$122 billion in banking assets

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Cost Allocation And Financial Analysis Specialist

Northern Trust