at Northern Trust Company in Chicago, Illinois, United States
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.
The Global Revenue and Billing Management team is responsible for the accounting, invoicing, and payment management of Northern Trust's client revenue. The team is located in North America, EMEA, and APAC and supports all business segments - Wealth Management, Asset Servicing, and Asset Management, and all regions - North America, EMEA, and APAC.
Global Revenue and Billing Management works closely with the business units and their respective Finance teams to ensure accurate revenue recognition and closing of Northern Trust's monthly accounting books. The team is in the midst of a multi-year transformation that will migrate all clients to the best-in-class Oracle Revenue Management and Billing (ORMB) platform that will improve client experience, deliver enhanced controls, optimize workflow, and enable advanced reporting and data analytics.
In today's interest rate environment, it is more critical now than ever to ensure accurate and timely collection of revenue. Inefficiency and delays result in reduced net interest income to Northern Trust. A new Revenue Management Sr. Consultant position has been created to support the new Revenue Management Practice lead who's primary goal is to spearhead change and accelerate revenue collection. The successful candidate will work with global client service teams in Asset Servicing, Wealth, and NTAM with the goal of reducing aged revenue accruals and receivables. They will be responsible for completing data analysis, creating business metrics, project management, and process optimization, identify opportunities for improving the revenue management process and lifecycle and defining new best practice standards. The individual will work closely with the broader BAU leadership team and transformation program to deliver against these goals.
Major Duties :1. Act as a subject matter expert, providing comprehensive, in-depth consulting and knowledge of current processes and procedures
2. Evaluate existing business and operational flows and define the As-Is process models and To-Be process models for business process re-engineering initiatives
3. Provide guidance and leadership to drive the completion of critical projects
4. Carry out activities that are large in scope and cross-functional
5. Maintain effective relationships with our business partners to ensure process improvement goals are clearly communicated and met
6. Balance between high level operational execution and development, and execution of strategic direction of business function activities
7. Differentiate between important and urgent decisions, assess complex and contradictory information, identify the core issues quickly and act on them
8. Work with internal and external auditors to provide documentation for various audits
9. Provide oversight for the documentation of procedures and identification of potential control gaps and inefficiencies
10. Provide input and support to senior management's objectives and goals
11. Promote a culture of continuous improvementEqual Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
