Associate, Account Opening
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Chicago, IL 60601
The key responsibilities of the role include:
The Account Opening Associate is responsible for assisting with the setup of client entities and accounts for key transitional activities as it relates to onboarding and set up of new institutional clients, opening of new entities for existing clients, and daily account set up. Custody Transition and Account Services (CTAS) is a central support group for both Wealth Management and Corporate & Institutional client servicing teams with the capability to deliver an array of processing efficiencies, ensuring best practice and a consistent client/partner experience.
The CTAS Account Opening Team is responsible for delivering middle office services to WM, GFO, FIA, & EMEA throughout the onboarding of new business, life cycle and product termination events, facilitating communication and information flow between/among partner groups, outside parties, and clients.
Serve as the internal liaison between Institutional client servicing teams, internal partner groups, and external parties. The individual will be responsible for the setup of new accounts on the custody systems initiated through BPM or eRM Case Management, consult on Fee Agreements for new clients, process fee setup for existing clients, and assist in administrative functions daily.
Establish an effective working relationship with the client servicing teams (Client Executives, Relationship Managers, Client Service Advisors, and Account Managers), CTAS and other internal partner groups to ensure a positive client experience.
Provide consultative support; serve as a source of downstream processing and standards for new trust, custody, and global accounts. Collaborate with the CITS Transition Consultants, New Business Consultants, and Client Servicing Staff to adequately surround sensitive and/or rush requests.
Review client information and other legal documents to ensure all required client data has been obtained to set up accounts. Initiate and coordinate all operational duties associated with account setup & coding, legal documentation, online users, statements, and fees.
Ensure the initial setup and monitor the turnaround time on all assigned activity. Communicate with various partner groups to ensure tasks and assignments are processed within the service level standards. Research any issues related to the account opening process and follow up with corrective action.
Perform at or above the Custody Transition and Account Services performance standards.
About Northern Trust:
Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
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 that is committed to strengthening the communities we serve!
We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why Forbes ranked us the top employer for Diversity in 2018.
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 ethical companies. Build your career with us and apply today.
The successful candidate will benefit from having:
College or University degree, financial trust and custody services or other related client servicing experience is a plus for consideration. The role will support the operating structure of GFO, FIA, WM, and EMEA so familiarity with the business units, client account structure, and legal documentation for new accounts are strongly preferred.
Must demonstrate an understanding of Trust and Custody services, and Legal Agreement/Entity types usually acquired through formal training or prior experience. Effective interpersonal skills; great verbal/written communication, attention to detail (accuracy), ability to multi-task and prioritize work, time management and organization. Analytical skills are also required to review, resolve and consult on exceptions. General knowledge of Northern’s systems and operational processes as well as Microsoft Excel, Word and PowerPoint are strongly preferred.