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Senior Consultant, Benefit Payments

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Job Details
Job Order Number
Company Name
Northern Trust Company
Physical Address
See Job Description for Address
Chicago, IL 60601
Job Description

The key responsibilities of the role include:

Experienced functional area expert with technical and/or business knowledge and functional expertise. Responsible for supporting the Global Benefit Payments team on tax withholding and reporting requirements set by the IRS and various state tax agencies, not limited to tax but other regulatory bodies, including Northern’s policies.

Solves complex problems and initiatives facing the functional area. Develops metrics that indicate measures of progress and loop back for areas of improvement. Proactively anticipates needs and changes (people, process and technology) based on interaction with the business and prepare for upcoming regulatory changes that will impact Benefit Payments.

Knowledge of tax laws and regulations with an emphasis on Federal and State filing is required. Analytical, procedurally competent and problem solving skills are required. Attention to detail, organization, and collaboration skills are required, with an ability to focus on maintenance and implementation of policies and procedures to keep in compliance with regulatory and bank requirements.

Accounting/Reconciliation background is strongly preferred. Proficient user of MS Excel is a must including formula creation, pivot tables, v-lookup and other skills. Technical skills with an understanding of SQL and data analysis are a plus.

Knowledge of bank products/services that interacts with Benefit Payments ie: IT, Fees, Accounting & reporting preferred.

As an experienced functional area expert, provides leadership and problem solving to the team and partners at a high technical level.

Identifies areas for process improvement and carries out activities and changes that mitigate the risks for noncompliance, process or procedural improvements.

Role is focused on development and initiative management.

The partner executes on strategic business activities that cross functional lines.

Role is balanced between high level operational execution and development, and execution of strategic direction of business function activities.

Displays a balanced, cross-functional perspective, liaising with the business to help improve efficiency, effectiveness and productivity.

Oversee reconciliations to ensure team’s timely resolutions to exceptions or variance. Implement fix on new risk from recurring.

Researches, reviews, and prepares team in compliance with tax filing requirements.

Assists team in tax withholding process, research and preparation of specific reports with frequent review of outstanding exceptions.

Delivering organized results that will decrease/mitigate risks with clear and concise paths to resolution.

Researches and monitors regulatory and legislative changes impacting Benefit Payment retirement payment processing, tax liability remittance and reporting to ensure ongoing compliance. As well as communicating to management the impact to department.

Work with management on reporting issues and changes needed in regards to tax filing requirements.

Communicates directly with various regulatory agencies in regard to inquiries and item resolution and follows up with internal communications as needed.

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 and/or relevant proven work experience is required.

Excellent oral and written communication skills are required.

In-depth Functional / Industry Knowledge is required.

Highly flexible and adaptable to change.

Technical skills / systems knowledge (ie Lawson, Master Tax SQL) is required.

In depth experience with Payroll Tax Compliance (remittance, filings, reporting).

Regulatory knowledge related to tax reporting with the IRS, SSA, and various State Tax agencies.

Leadership and organizational skills are required to help determine the Business Unit’s goals, resources needed, and help assess and assist in the development of the skills of the staff.

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