Wealth Management at Northern Trust in Chicago, IL

The Specialist, Product Solutions is responsible for developing pricing strategies, implementing pricing frameworks, addressing one off requests, and ongoing management / continual improvement of our pricing program for our Fee Based Products.

This is a highly visible and collaborative function, working with Wealth Management leadership and various internal groups. In addition to owning prioritized business, product/programs, there is a sizable focus on Fee Product Management including competitive intelligence, strategy, reporting & analytics, governance, policies and procedures.

Key Responsibilities

Own the overall Fee Product framework from a business perspective, including:

• Developing fee strategies (innovative pricing structures, relationship pricing models, etc.)
• Collaborating with WM Finance on reporting & analytics; ensuring visibility into key metrics used in management decision making
• Preparing regular competitive intelligence and developing recommendations for leadership
• Ensuring governance, policies and procedures are relevant and applicable to current business practices and risk management priorities
• Representing WM interests and needs to the enterprise and serving as the central communication/ escalation point on operations/ IT initiatives and issues
• SME for fee operations/technology update and business lead on Fee related initiatives and systems (Fee Repricing, Global Fee Billing, Fee Proposal Tool, Fee Management Application, etc.)
• Identifying problems, pursuing and managing fee-related projects to solve these problems including partnering with other teams (Data Quality rule development, Fee Worksheet redesign, etc)
• Enabling business partners with high quality and relevant support / training materials; ensuring easy to navigate information organization of Fee Resource intranet page
• Serving as central point of contact for partners in answering or assisting in answering fee-related questions
• Proactively identifying and solving key pain points for clients and partners within fee processes and procedures

For prioritized business products and programs:

• Work with the business to select, prioritize, sequence, and align the activities in a project or the projects within a program.
• Develop and effectively manage program scope, timeline, and resources to ensure timely completion of deliverables.
• Monitor and control complex project timelines by performing the work to compare actual performance with planned performance. Define metrics, goals and the process to measure and evaluate performance. Responsible for analyzing variances, evaluating possible alternatives, and to implement appropriate corrective action(s) as needed.
• Manage project dependencies and risks.
• Coordinate internal / external communication.

Skills/Experience

• 10 + years experience in product management, strategy, or strategic program management
• Deep understanding of the Wealth Management business
• Highly flexible and adaptable to change
• Ability to build relationships with senior leadership and partners across the Wealth Management footprint.
• Excellent oral and written communication skills are required
• Demonstrated analytical, problem solving, and organizational skills
• Ability craft and deliver data driven recommendations
• Program or project management experience is advantageous; experience with technology transformations
• Solid Excel and PowerPoint presentation skills.
• Bachelor degree required, and advanced degree (e.g. MBA) and/or related industry qualification is preferred