Manager, Banking Operations

Northern Trust; Tempe (AZ); Hybrid; USD 117,230 - 205,200; Full time

Benefits offered by this job

401k and pension

Medical, dental, and vision benefits

Paid time off

Life & accident insurance

Discretionary bonus program

Job summary

Northern Trust is seeking a candidate in Tempe, Arizona for a pivotal role in managing banking operations. As the leader in Banking Operations, you will ensure accuracy, adhere to compliance standards while driving improvements in processes.

The role offers a hybrid working model and is complemented by an attractive benefits package including retirement plans and health coverage.

Qualifications

• 7+ years of experience in banking operations or financial services.
• Knowledge of W-8/W-9 documentation and tax filings.
• Proven ability to manage risk and operational processes.

Responsibilities

• Lead daily operations across Banking Operations functions.
• Oversee end-to-end execution of banking activities.
• Drive operational effectiveness through performance monitoring.

Skills

Banking operations

Financial services

Analytical skills

Communication skills

Problem-solving skills

Stakeholder management

Education

Bachelor’s degree in Accounting, Finance, Business, or related field

Job description

Working Model: Hybrid

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Key Responsibilities

• Lead daily operations across Banking Operations functions, ensuring accuracy, timeliness, and adherence to service levels
• Oversee end-to-end execution of banking activities, including account maintenance and exception management across deposit, card, and regulatory workflows
• Drive operational effectiveness through performance monitoring, capacity management, and continuous improvement
• Ensure alignment with enterprise standards and control requirements
• Drive process improvement, automation, and operational efficiency initiatives
• Partner with technology and product teams to enhance systems and workflows

People Leadership

• Lead, coach, and develop a team within Banking Operations
• Manage performance, capacity, and workload planning
• Foster a strong risk and control culture while driving engagement and development

Wealth Management Deposit Operations

• Oversee deposit account maintenance aligned to Wealth Management products
• Ensure execution of deposit activities, including exception management and regulatory adherence
• Maintain compliance with applicable regulations, including Reg II, Reg CC, and Reg D

Debit Card Operations

• Oversee debit card operations, including card maintenance and error resolution
• Ensure effective controls over card activity, including fraud monitoring, dispute management, and Regulation E compliance

Tax and Regulatory Operations

• Provide subject matter expertise on tax withholding, documentation, and reporting requirements across Banking Operations
• Ensure adherence to regulatory requirements, including W-8/W-9 documentation, withholding obligations, CTR filings, escheatment, and IRA-related processes
• Oversee tax reporting and withholding for U.S. and non-U.S. accounts, including 1099 and 1042-S reporting
• Oversee preparation and filing of Forms 945 and 1042 related to deposit activities
• Act as control owner, ensuring appropriate control design, execution, and documentation

Reconciliation, Controls & Issue Resolution

• Oversee general ledger and operational reconciliations across Banking Operations
• Monitor exceptions, discrepancies, and external inquiries; identify control gaps and lead resolution and process improvements
• Ensure adherence to audit standards, documentation requirements, and record retention policies

Audit, Compliance & Stakeholder Engagement

• Serve as primary interface for internal audit, regulatory exams, and risk assessments
• Lead coordination and remediation of findings, ensuring timely resolution
• Act as liaison across stakeholders to ensure alignment on operational execution and regulatory expectations

Required Experience

• Bachelor’s degree in Accounting, Finance, Business, or related field
• 7+ years of experience in banking operations or financial services
• Knowledge of W-8/W-9 documentation, withholding, and tax filings related to Banking Deposit Accounts
• Strong analytical, reconciliation, and problem-solving skills
• Proven ability to manage risk, controls, and operational processes
• Strong communication and stakeholder management skills

Salary Range

$117,230 - 205,200 USD

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.

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].