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 key objectives and responsibilities of the role include:
The Recordkeeper Relationship Group is responsible for facilitating the strategic and tactical relationship for our Corporate and Institutional clients' Third-Party recordkeepers in order to support their Defined Contribution and Defined Benefit investment operations. The Recordkeeper Relationship Consultant serves as the primary contact for recordkeepers in overseeing daily participant investments and trading activity, which includes effectively communicating with recordkeepers, investment managers, clients and internal partner groups to ensure that service needs and expectations are being met.
The Recordkeeper Relationship Group is also responsible for providing end-to-end project management oversight for all clients change events, including onboarding, fund launches, fund closures, and plan restructures. The Consultant will lead the portfolio rebalancing process for custom funds and manage liquidity analysis trading for unitized company stock portfolios. Utilizing industry knowledge of institutional investment operations, recordkeeping processes, and fund valuations, the Consultant provides guidance on complex issues and serves as a technical resource for Client Administration and Daily Valuation Servicing teams.
Additional responsibilities include:
1. Manage and strengthen daily recordkeeping relationships for assigned book of business.
2. Oversee the daily participant investment activity. Works closely with Institutional Fund Accounting and Daily Valuation operations teams to resolve any issues in a timely manner.
3. Reviews company stock liquidity trades for clients and acts as reviewer of liquidity calculations and transactions initiated by Recordkeeping Relationship Analysts.
4. Manages rebalancing process for client portfolios, including the calculation and initiation of Mutual Fund, Collective Fund trades as well as associated cash movements.
5. Receives inquiries from recordkeeper and partners, oversees transaction processing (including stock liquidity processing), handles inquiry resolution, obtains appropriate documentation and ensures accurate and timely follow-up with recordkeepers and partners.
6. Researches and resolves complex exceptions and coordinates corrective entries and preventative processes.
7. Communicates daily, or as needed, with recordkeeper and partner areas, especially client service teams regarding client account activity.
8. Identifies service efficiency enhancements, process and service delivery improvements using creative and proactive measures.
9. Works with recordkeeper and partner areas on client structural changes, including maintaining action plans related to client changes.
10. Initiate periodic meetings with recordkeeper to review service levels and other ongoing service initiatives. Prepares call reports, as necessary, and communicates to service...
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
