Northern Trust Chicago , IL 60602
Senior Trust Advisor Wealth Advisory Team
This position oversees and advises complex wealth management and fiduciary client relationships for individuals and families with $20 million or more in investable assets on a Wealth Advisory Team. The Trust Advisor assumes primary responsibility for overall client satisfaction as the relationship manager by collaborating with the full service team and appropriate NT resources to ensure effective delivery of high quality fiduciary service, issue resolution, communication of client needs to partners, and coordination with client's professional advisors to identify and implement advisory solutions.
1.Manages assigned account base of wealth management clients by working with client service team, clients and their professional advisors to develop a thorough understanding of the client's needs and goals. The Advisor exhibits thorough knowledge of governing documents and account agreements and in-depth knowledge of fiduciary duties and applicable laws, including trust and tax law, estate planning techniques, financial planning, asset management and prudent investment principles. Seeks continued development of fiduciary and advisory skills through training and experience.
2.Primarily responsible for leading client conversations for life driven wealth management in conjunction with other team members. Provides proactive advice to clients on NT's products / services, emerging issues, regulatory / tax changes, and appropriate actions for the client. The Advisor combines technical knowledge with fact finding and analysis to develop advice-driven solutions for clients and to explain complicated concepts in a thoughtful way using non-technical terminology. Maintains a working knowledge of various NT resources and utilizes fiduciary knowledge, experience, and NT resources to identify opportunities for relationship enhancement.
3.Focused client service with responsiveness, diplomacy and tact; proactive client contact through written and verbal communication with suitable frequency; good time management skills.
4.Builds and maintains knowledge of NT fiduciary standards and practices, applies fiduciary knowledge and judgment to fiduciary relationships. Understands and complies with internal policies, processes and procedures to effect prudent risk management and judgment. Recognizes fiduciary risk issues and seeks appropriate resolution.
5.Cultivates relationships with referral sources and external professional advisors to build the business; identifies and develops new business opportunities. Advisor participates in community and professional organizations representing NT and identifies opportunities to showcase NT expertise and thought leadership.
6.Travels to meet with clients where appropriate considering revenue, new business opportunities, or servicing requirements.
7.Teaches and mentors less experienced partners and provides leadership on fiduciary projects and committees. Advisor works collaboratively with internal partners and external professional advisors in identifying client needs and goals and developing advice-driven solutions for clients.
8.Seasoned multi-disciplinary expert with extensive technical and / or business knowledge and functional expertise.
9.Focus of role is on execution of strategic direction of business function activities.
10. Carries out complex initiatives involving multiple disciplines and/or ambiguous issues.
11. Displays a balanced, cross-functional perspective, liaising with the business to improve efficiency, effectiveness and productivity.
Knowledge / Skills
Knowledge of fiduciary and financial products and services, usually acquired through related work experience, is required to manage client accounts. Technical knowledge of investments, tax, legal, and operations usually acquired through formal education or related experience is required to service clients.
Knowledge of fiduciary standards, principles, and applicable laws and regulations usually acquired through training, seminars, or law school is required to administer accounts. Skills in negotiating, problem solving, delegating, leadership, and sales are necessary to service the client relationship. Leadership and organizational skills are required to determine the Business Unit's goals, resources needed, and to assess and develop the skills of staff.
Minimum of 7 years of experience as a relationship manager in trust administration, estate administration, estate planning, or related fields.
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 18,100 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