Investment Associate

001 The Northern Trust Company; New York (NY); On-site; USD 64,000 - 103,000; Full time

Benefits offered by this job

401k

Pension

Medical benefits

Dental benefits

Vision benefits

Disability insurance

Paid time off

Parental leave

Life insurance

Bonus program

Job summary

Northern Trust is seeking an entry-level Portfolio Administrative professional in New York. The role supports administrative functions for client portfolios, including file setup, report preparation, and coordination with investment advisors to fulfill client requests.

The position emphasizes accuracy, cross-team collaboration, and adherence to risk and compliance standards, with opportunities to grow within a global financial services firm.

Qualifications

• Knowledge of investment products, services, and terminology.
• Strong analytical, organizational, and communication skills.
• Proficiency in learning multiple systems required to perform role.
• Broad understanding of the job and collaboration across teams.
• Ability to explain detailed information within the team.

Responsibilities

• Prepares portfolio materials for account review meetings.
• Sets up client files and processes reports.
• Orders reports for portfolio managers or clients.
• Interacts with clients and portfolio managers daily.
• Supports tax and compliance processes for the team.
• Processes client cash transfers and fund trades by deadlines.

Skills

Investment knowledge

Analytical thinking

Communication skills

Systems proficiency

Tools

Portfolio systems

Job description

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Job Responsibilities

Responsible for all administrative aspects of a portfolio. This includes file set up on client accounts, ordering reports, processes physical stock and/or bond certificates, prepares all material for client review meetings. Works under the direction of the Investment Advisor to complete all client requests. Responsible for supporting risk and compliance requirements for the team, including: Working diligently to mitigate losses due to error and being mindful of possible contingencies Coordinating and/or supporting investment or client service teams’ monthly REV and New Account Review processes and documentation (as directed by supervisor).

Major Duties

1. Ensures that portfolio materials are prepared for account review meetings with clients. Retrieves reports, desired by portfolio managers or requested by clients, off the EDS, PIMS, IMS, and PAS systems.
2. Sets-up files with account documentation for existing or new clients (i.e., involving automatic payment, pledging securities, address changes, statement addresses, investment guidelines, fees, etc.).
3. Orders reports for portfolio managers or clients as requested.
4. Communicates with clients and portfolio managers on client requests. Ensures that portfolio managers follow-up with client requests.
5. Interacts with partners, primarily administratively, on a daily basis to receive and communicate information on all aspects of a client relationship or portfolio.
6. Works with the tax area to research discrepancies and oversee adjustments on client accounts regarding tax cost issues.
7. Responds to client inquiries for account information or to initiate transactions requested by the client (i.e., re-register gift stock, remit proceeds, sell gifts, etc.). Processes physical stock/bond certificates and completes DTC transfers.
8. Follows-up with client on inquiries via the telephone or written correspondence.
9. Processes client cash transfer requests. Determines if funds are available in the investment account. Contacts portfolio manager if cash needs to be raised.
10. Processes fund trades via CIT or all-in-one bank applications by established deadlines.
11. Reviews and analyzes fee worksheets to ensure that fees are calculated appropriately.
12. Adheres to National Investment Guidelines, feedback from the REV peer review process, and observes sound risk management practices.
13. Provides solutions to problems in situations that are atypical or infrequently occurring based on practice and existing precedents or procedures.
14. Impacts the quality, timeliness and effectiveness of the team; uses discretion to modify work practices and processes to achieve results or improve efficiency.

Knowledge

• Knowledge of investment products, services, and terminology, usually obtained through on the job training, are needed to prepare material for client meetings.
• Strong analytical, organizational, and communication skills are needed to meet meeting deadlines and solve client or administrative problems.
• Proficiency in learning multiple systems required to perform role is needed.
• Requires a broad understanding of the job and applies skills and knowledge in a range of processes, procedures and systems or requires deep skills in a single area.
• Understands how the team integrates with others to accomplish team objectives.
• Explains detailed and/or complicated information within the team.

Experience

• 0-2 years of experience within the financial services industry.
• May act as an informal resource for team members with less experience.

Salary Range

Salary Range: $64,170 - 102,810 USD Salary range is a good faith estimate of base pay.

Benefits

• 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
• other voluntary and well-being benefits
• discretionary bonus program that may include an equity component

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.

APAC/INDIA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice.

Canada EEO STATEMENT

Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

EMEA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice.

USA EEO STATEMENT

It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. All employment decisions will be made in accordance with our obligations under the law.

EEO Know Your Rights (U.S.)