Position Summary:
The Head of Client Service Oversight & Governance for Northern Trust Asset Management, Global Institutional Client Group will lead the effort, as part of a recently created team, to actively manage and monitor client related risks ensuring compliance with regulatory requirements, internal policies and client agreements. This individual will lead the evolution of a team to ensure consistent review, oversight and governance of client related onboarding and ongoing servicing activities while providing ongoing training to the broader client facing team. This individual will display a balanced, cross-functional perspective, liaising with clients, client facing partners, and the broader servicing teams to ensure a reduction of risk to the clients and business while positively impacting the value-added client experience. This will include first line responsibilities arising from the implementation of NT RCE program
The successful candidate will be a collaborative partner with the ability to manage multiple projects with high visibility. This individual will have exceptional communication and problem-solving skills working in an entrepreneurial environment to build the function and team. The role requires a high degree of asset and investment management acumen, control function experience, as well as a sense of urgency and partnership to do what is best for the client while protecting the business.
Key Duties & Responsibilities:
- Buildout a robust client oversight and governance function that includes, but not limited to the following oversight responsibilities:
- Oversee the coordination of the life cycle of on-boarding and off-boarding accounts: 1) operational set-up across various teams, 2) gathering legal and account setup documentation (as well as client updates), 3) document KYC requirements and compliance, 4) manage vendor and third-party relationships, and 5) establish an internal dashboard for periodic metric reporting relating to client accounts
- Operationalize Client Service:
- Document new workflows across cross-functional teams to streamline account on-boarding and enhance existing processes
- Leverage systems and tools to automate and streamline processes (where applicable)
- Evolve operating model as appropriate as client needs evolve
- Develop new tools where required for tracking client events, inquiries and servicing issues. Document, manage and escalate issues in a timely manner.
- Governance:
- Partner across the organization to align First Line of Defense (1LOD) with broader oversight and compliance functions pursuant to achieving a One Northern goal.
- Review and approve client onboardings, including review and approval for KYC responsibilities in scope
- Act as a Program Manager for across client oversight and governance activities building out additional policies as needed and training client facing partners on them
- Ensure business adherence to relevant regulatory requirements, internal policies, standards and procedures
- Data Management:
- Align client oversight function with other parts of the business to ensure appropriate capturing and monitoring of client related data. Work cross-functionally to establish a single-source client database. Oversee the documentation and buildout of a client account database containing account information and establish a single source repository for documentation across databases / systems. Monitor for changes in circumstances post on-boarding.
- Leadership:
- Manage a team of client oversight and governance managers including RCE
- Act as a liaison across various teams and lead or advise relationship management teams as appropriate on client life cycles, ongoing servicing and complex client matters
- Liaise with internal and external auditors, oversee client related business continuity plans, and resiliency development
- Additional ad hoc assignments and projects (as needed)
Knowledge & Skills:
- Expertise in compliance regulations related to asset management
- Proven experience in building and overseeing asset management control functions
- Extensive understanding of client/vehicle/investment nuances in onboarding and ongoing servicing
- Strong consultative skills ranging from client communication, analytics, influencing, facilitation and consensus building
- Excellent project management skills to organize teams to complete functions in a timely, efficient manner
- Outstanding communication skills, both written and verbal, with demonstrated ability to develop materials and effectively present to and persuade executive audiences
- Ability to navigate the organization and influence internal partnerships to ensure excellence in servicing clients
- Knowledge of Northern Trust global business structure and various business segments.
- High degree of comfort dealing with ambiguity; comfort in a dynamic and fast paced work environment
Experience & Education:
- 10 years+ of relevant experience; Asset Management industry experience and product knowledge required. Financial Services experience required.
- Bachelor’s degree; Master in Business Administration and/or CFA strongly preferred.
Salary Range:
$164,600 - 288,000 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.
