Chicago, IL
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.
Continue to learn, grow and evolve
No matter what greater means to you, we can help you find it. We believe in empowering our partners with the resources, support and opportunities to achieve greater and reach their full potential. A strong focus on individual career development and growth is just one way we help you reach your goals.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to strengthening the communities in which we live and work.
The new Process Optimization team is part of the Wealth Management (WM) Office of the Chief Operating Officer (OCOO). The team will work with all project and process execution teams across Wealth Management to catalog, assess, prioritize and execute process optimization initiatives that will drive demonstrable, quantifiable benefits to the WM organization.
The Manager of Process Optimization for Wealth Management will help stand up the Process Optimization function in the WM business unit. The function is responsible for identifying, analyzing, prioritizing, executing and transitioning optimizations of existing processes to reduce risk and drive benefits. Additionally, establishing a center of expertise within the BU. The right candidate will have a balance of business acumen and strong ability to influence, strong management skills and be able to flex a variety of other skills including business analysis, project management, and process optimization, all underpinned by a data driven mindset and strong communication.
Major Duties
- Based on industry standard best practices, develop the business process management (BPM) /optimization framework for Wealth Management.
- Design and implement the inventory of Wealth Management business processes.
- Develop and implement consistent BPM development methodology/approach with a focus on simplification, automation and cross-system integration.
- Identify strategic opportunities to optimize and scale processes and enhance capability. Execute on same. Work closely with OCOO leadership team and business unit leaders to achieve business goals.
- Implement governance to ensure processes are optimized, consistent and adhere to standards and controls.
- Create and manage a framework for prioritization (i.e. heat map) of process optimization work and inform all stakeholders of such.
- Determine systems needed to inform process optimization opportunity space and implement (i.e. Enlighten.
- Identify high complexity automation needs and partner with Data & Analytics team to execute.
- Define benefits of each process optimization initiative, track benefits return and report on benefits to senior leaders.
- Articulate benefits and related improvement via ongoing metrics tracking/dashboard
- Coordinate with Change Management to communicate changes to business including - best practices, new capabilities, process redesign.
- Manage portfolio of process optimization projects and initiatives.
- Ensure process support documentation is regularly maintained and centrally available via existing information management systems (i.e. SharePoint, intranet, etc).
- Integrate data driven management in all aspects of work.
- As subject matter expert, provide comprehensive, in-depth analysis, consulting and leadership to team and partners.
- Coordinate with other PO teams throughout the Enterprise.
- Communicate effectively by simplifying the complex and demonstrate ability to translate technical terminology into layman's business terms.
- Balance between strategic oversight and socialization of the work, building the team and building the practice, and execution of key process optimization initiatives.
- Develops periodic goals, organizes the work, sets short-term priorities, monitors all activities, and ensures timely and accurate completion of the work.
- Provides input and support to budget management process.
- Responsible for managing a small group of process analysts, growing the skill set of team members through training on proficiencies such as LEAN, Six Sigma, low/no code automation and project management.
- Conducts performance management and career development processes, provides input for staffing and disciplinary actions and provides hands-on training to staff.
Knowledge
- Deep knowledge of process optimization principles and potential Six Sigma certification (or path to it)
- Understanding of Wealth Management business unit, products and services
- Financial services operations
- Process optimization principles, tools/systems and workflows
Skills and Behaviors
- Strong business analysis, problem solving, critical thinking, and business acumen ability to work in uncharted territory
- Excellent oral and written communication
- Ability to manage across and up, including influencing (without authority) senior team members outside of the Portfolio & Program Execution team
- Structured management style, highly organized with strong planning and attention to detail
- Willingness to be brave and question the status quo
- Flexible approach towards changing work methods, deadlines and variable workloads
- Ability to multi-task and work on several different projects at any given time
- Ability to partner effectively with peers, senior management, and overseas partners
- Advanced Microsoft O365 and Power Platform skills tech forward mindset
Experience
- College or University degree
- 10+ years of Financial Services Industry and Operations experience
- 10+ years of business process and optimization
- 1+ years of management preferred
Work with us
We work hard to create an inclusive environment where every individual feels respected and empowered to play a critical role in our success. But we also believe balance isn't just important it's essential. That's why we offer a robust set of benefits that allow for both a compelling career and a fulfilling life
Life Insurance, Disability Plans, Pension/Gratuity, Annual Pay Review
Financial
Flexible Work Options, Incremental Annual Leave, Paid Community Volunteer Days
Work-Life Balance
Career Paths, Educational Assistance, Recognition Program, NT University, and employee-led Business Resource Councils dedicated to an inclusive culture
Professional Development
Medical Insurance, Active Sports & Social Clubs (lunchtime and after-work groups), Employee Assistance Program
Health & Well-being
A greater path is here. Where will it take you?
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. #MadeForGreater
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.