The New Business Specialist (NBS) is responsible for facilitating new business opportunities as a member of the Foundation & Institutional Advisors (FIA) practice within Northern Trust Wealth Management. FIA delivers comprehensive investment advisory, asset servicing, and specialized institutional solutions to nonprofit organizations, charitable entities, foundations, endowments, and other tax-exempt clients.
The NBS will identify, research, source, profile, and position prospective opportunities while facilitating introductions to FIA sales team members, Regional Directors (RDs), and other subject matter experts as appropriate. Depending on the complexity of the opportunity and client engagement requirements, the NBS may play a limited or highly active role throughout the sales process, helping advance prospects toward successful conversion to clients.
The role requires developing and maintaining a deep understanding of FIA’s full suite of services, including investment advisory, asset servicing and reporting, nonprofit governance, tax-exempt entities, charitable trusts, planned-giving, philanthropic advisory, community impact investing, brokerage, banking, and lending solutions. In addition, the NBS must possess broad knowledge of Northern Trust’s Wealth Management, Asset Management, and Asset Servicing capabilities to effectively identify client needs and position the firm’s comprehensive solutions.
- Support and share ownership with RDs of prospective client opportunities from internal and external sources
- Utilize CauseIQ, available databases, conference attendee lists, and market research tools to identify and qualify FIA prospects
- Profile prospects and coordinate efforts with RDs to position FIA capabilities as part of the overall sales approach
- Conduct detailed analysis to align specific products and servicesfor eachopportunity
- At direction of RDs and in coordinate with Sales Support Group, respond to questions, orchestrate RFP responses, develop fee proposals and consult with NT partners for additional product/service information as needed
- Assist RDs with materials and preparations for finalist presentations to prospects
- Coordinate with RDs and Sales Associate to setup and maintain opportunities for pipeline reports, manage leads and active sales efforts, and scheduling internal team meetings
- At direction of RDs, initiate and follow through on requests for banking, brokerage and other NT services
- Work with Sr Managing Director, RDs, Sales Associate and National Marketing Director on execution of applicable portions of the FIA Strategic Marketing Plan
- Develop in-depth knowledge of FIA services across multiple client segments and contribute to creation of new sales and marketing content for internal and external use
- Coordinate invitations to prospects for Northern Trust/FIA thought leadership events (in person and virtual)
- Conduct outreach and mail/email campaigns to share key content with target prospects
- Attend conferences, sponsored events, internal team meetings, etc. as appropriate to represent the FIA sales practice
- Assist in other key initiatives around partner development, advisor development and internal reporting/presentations to Wealth Management partners
Qualifications
- Bachelor27s degree and 2+ years of relevant work experience is required/preferred
- Excellent oral and written communication skills
- Knowledge of Outsourced Chief Investment Officer (OCIO) industry
- Interest and experience working with nonprofits, charitable entities, and other tax-exempt organizations
- Flexible and adaptable to change
- Technical skills and systems knowledge including Salesforce, Adobe, and Microsoft Office (PowerPoint and Excel)
Salary Range:
$90,820 - 154,280 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.
