Northern Trust

Custody Service DM (Division Manager)

Chicago, IL
17 May 2024
17 Jun 2024
Contract type
Full time
Experience level

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 Custody Service Division Manager (DM) will manage one or more Custody Client Service teams and will be responsible for ensuring quality service is delivered to clients and appointed investment managers.

The DM will also make staffing decisions including recruiting a team, conducting performance management reviews, and ensuring employee development and training needs are achieved.

Additional responsibilities will include:

  • Consulting with clients, Relationship Managers, and the Shared Service team regarding organizational delivery and solutions delivery to meet the evolving needs of North America (NA) Custody clients.
  • Providing guidance to staff and creating an environment that encourages employee engagement, teamwork, and communication.
  • Creating and executing on a Client Service Team Operating & Action Plan that seeks to improve service quality, operating efficiency, and team effectiveness.
  • Building effective relationships with Relationship Managers (RMs), Shared Service Managers, and NT support groups.
  • Proactively implementing an effective onboarding experience for new Partners and Managers.
  • Developing staffing and succession plans
  • Defining performance standards, conduct performance reviews, and handle salary administration for individuals and Managers.
  • Creating and negotiating Service Level Agreements (SLAs), measure service delivery against SLAs, take corrective actions where needed to address service deficiencies.
  • Generating, interpreting, and actioning Management Information Statistics (MIS) metrics; monitor key metrics for trends and act accordingly.
  • Creating, documenting, maintaining, and improving process flows, operating procedures, and controls
  • Championing business and technology enhancement initiatives.
  • Ensure appropriate operational controls in order to manage and mitigate risk to Northern Trust.
  • Performing cost-benefit and impact analysis related to new client service requests.
  • Serving as a point of escalation, maintain, and monitor issues log, chair weekly / bi-weekly issues meetings, and work to promptly resolve client servicing issues.
  • Responsible for creating and reporting on client satisfaction.
  • Scheduling or supporting Quarterly Service Reviews, Due Diligence meetings, and other client meetings as required.
  • Providing strategic direction for delivery of business function activities and overall client satisfaction.
  • Ensuring internal and client issues are communicated and escalated in a timely manner.

The ideal candidate should have a fair amount of the following qualities:

  • Extensive industry subject matter expertise enabling them to understand the needs of complex and large clients.
  • Extensive technical knowledge of financial services, asset management, and investment operations
  • Excellent communication skills (verbal, non-verbal, and written)
  • Proven leadership and organizational skills to develop periodic goals and to manage and motivate team members towards achieving the goals set
  • Proven analytical and problem-solving skills
  • Highly flexible and adaptable to change
  • Demonstrated success in coaching and developing individuals at multiple levels in an organization
  • A college or university degree or relevant work experience
  • Prior experience in a managerial role
  • Prior experience in Financial Services, Asset Management, and/or Investment Operations
  • Previous client management and client service experience in a service-oriented environment

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

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 sustainable companies! Build your career with us and apply today.

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

We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.

For further information, and to apply, please visit our website via the “Apply” button below.

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