Deposit Strategy Manager - Chicago, Illinois, United States, 60603

The banking practice is committed to provide a leading suite of deposit products. Northern Trust's clients are sophisticated, demanding, and appreciative of our fiduciary approach. This role ensures that we are providing a set of products that have the functionality and economic benefits to clients that are consistent with Northern's reputation as a premiere wealth manager. The role will act as the intersection between the Banking Practice, Finance, Treasury, and Operations. This includes the need to have an accurate sense of the industry landscape to enable the Company to develop and price our products accurately.

The Deposit Strategy Manager should have a strong understanding of Northern's client base, the ability to establish relationships with a wide range of stakeholders, and excellent analytical skills. The position will report directly into National Services and indirectly to the Wealth Management CFO. Key elements of the role include:

• Monitoring competition to ensure the business is aware of competitive product construction, pricing, and technology.

• Ensuring products are aligned with the strategic goals:

• Consistent with client needs

• Priced appropriately

• Aligned across the product set

• Economically viable to Northern Trust

• Developing and maintaining product strategy

• Engaging with the field, including bankers, relationship managers, and strategists to provide education, relationship management support, and encouragement to grow the deposit franchise

• Engaging with various subject matter experts and stakeholders within other business units, including:

• Treasury

• C&IS

• Finance

• Shared Services

• Risk Management

• Providing strong representation at various internal leadership bodies, including

• Participating in the Funds Transfer Pricing Committee

• Participating as a voting member of the Wealth Management Rate Setting Committee

• Participating in ALCO as a non-voting member

• Maintaining a strong industry presence including:

• Attend industry conferences

• Establish and maintain relationship with peers across the industry

• Establish and maintain relationships with consultants focused on the deposit industry

• Growth and Profitability

• Monitoring and promoting strong profit margins

• Creating growth via product and pricing promotions


• MBA or equivalent

• 5-10 years of experience in Deposit roles, either in oversight, product management, or pricing

• 10 years of progressive experience in financial services

• Strong knowledge of the current Deposit landscape

• Strong analytical skills, including the ability to create pricing frameworks

• Excellent communication and interpersonal skills to help act as a liaison between the field, Operations, Finance, and Treasury

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

As of December 31, 2018, Northern Trust Corporation had:

$10.1 trillion in assets under custody/administration

$7.6 trillion in assets under custody

$1.1 trillion in assets under management

$132 billion in banking assets