Director, Investment Operations

Northern Trust; Chicago (IL); On-site; USD 137,000 - 241,000; Full time

Job summary

Join a forward-thinking financial institution as the Director of Investment Operations, where you will lead a dedicated team to ensure operational excellence in investment management. This role involves collaborating with various departments to architect future-state operating models and drive digital transformation. With a commitment to service and integrity, you will help manage relationships with custodians and enhance operational processes. Enjoy a flexible work culture that values innovation and community engagement, while being part of a globally recognized organization dedicated to your professional growth.

Benefits

401k and Pension

Medical, Dental, and Vision Insurance

Paid Time Off

Parental and Caregiver Leave

Life & Accident Insurance

Discretionary Bonus Program

Qualifications

• 20+ years in investment management with operational leadership experience.
• Strong knowledge of investment operations and financial technology systems.

Responsibilities

• Lead core investment operations functions including onboarding and reconciliation.
• Develop service levels and governance frameworks for timely information delivery.

Skills

Investment Management

Team Management

Vendor Management

Communication Skills

Digital Transformation

Negotiation Skills

Relationship Building

Analytical Skills

Education

Bachelor's Degree

Master in Business Administration

CFA

Job description

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Role Summary

Northern Trust Asset Management (NTAM) is a trillion dollar investment management firm entrusted by investors around the globe to help them navigate changing market environments, so they can confidently realize their long-term objectives.

The Director of Investment Operations, reporting into the Global Head of Investment Operations, is primarily responsible for championing the strategy and overseeing daily operations of core operational functions and related activities for NTAM. This role, in partnership with practices that include Product, Marketing, COO, Investments, Data Office and Technology, will support the execution of the strategic roadmap and maintain a world-class organization to manage all books of record (IBOR, ABOR and PBOR), to ensure accurate representation of positions, transactions and cash, across Eagle, Aladdin, Archer and Gresham, via daily reconciliation and accounting, including responsibility for all Corporate Actions processing and other operational functions. Furthermore this role will be responsible for the operational support of the OCIO function. This will involve building first class relationships with internal and external custodians, transfer agents and fund accountants, technology vendors, as well as digital and people leadership required to achieve scale.

Primary Duties and Responsibilities:

Lead an and drive excellence across this practice. Responsibilities include:

• Lead Core Investment Operations functions, e.g. onboarding, reconciliation, reporting, corporate actions and others across NTAM clients, accounts and funds.

• Oversee the operational support of the OCIO business via a dedicated operational team.

• Collaborate with multi-disciplinary teams to assess current state and architect future-state operating models, processes, capabilities required to successfully support evolving business needs to drive excellence. Communicate roadmap in terms meaningful to both business and technology organizations.

• Develop service levels with the business, establish a robust governance and control framework to ensure delivery of timely and accurate information, and monitor on-going effectiveness

• Lead NTAM’s vendor relationship with Fund accountants for NT Mutual Funds, CITs, UCITS and ETFs and other external custodians, transfer agents and fund accountants.

• Lead initiatives to strengthen the first line of defense (1LOD) by instilling a culture of continuous improvement and robust policy and procedure documentation and process to reduce operational risk and drive operational excellence.

• Lead, participate and oversee existing and emerging proprietary or vended applications and data used for reconciliation and cash reporting, providing thought leadership on effective use of spend.

• Develop and monitor KPIs to measure effectiveness of portfolio administration and ensure value delivery.

• Hire, motivate and manage talent to retain, grow, build bench strength and resiliency.

Necessary Knowledge and Skills

• Detailed understanding of the investment management business, multiple asset classes and investment/financial technology systems within a large scale Asset Management setting

• Experience managing and developing teams of on-shore and offshore resources with excellent motivation and team building skills, including the ability to recruit, develop and retain staff

• Knowledge of investment operations, OCIO, cash processes, reconciliation, analytics, strategy development, influencing, facilitation and consensus building

• Prior experience in integrating and influencing others across a network, and unlocking new opportunities to drive excellence in Operations

• Dynamic relationship building and partnership skills; a strong collaborator with experience leading initiatives across multiple groups and stakeholders

• Strong negotiation and vendor management experience

• Outstanding communication skills, both written and verbal, with demonstrated ability to develop materials and effectively present to and persuade executive audiences

• Experience in driving digital and automation-driven transformation to drive efficiencies and scalability

• Global outlook with sensitivity and awareness of social and cultural differences

• Strong situational awareness and decision making capabilities

Necessary Experience and Education

• Bachelor degree; Master in Business Administration, and/or CFA strongly preferred.

• At least twenty years of work experience in the investment management industry, with a demonstrated track record of leading the operational or portfolio administration functions at a mid to large investment manager.

• Track record of developing and driving transformation vision and agenda

Salary Range:

$137,400 - 240,400 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.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve!Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us andapply today.#MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail].

We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.