Manager, Banking Operations
About the role
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution with over 130 years of financial experience and over 22,000 partners. Northern Trust is dedicated to providing innovative financial services and guidance to the world’s most successful individuals, families, and institutions, focusing on service, expertise, and integrity.
Key Responsibilities
Banking Operations Oversight: Lead daily operations across Banking Operations functions, ensuring accuracy, timeliness, and adherence to service levels. Oversee end-to-end execution of banking activities, including account maintenance and exception management across deposit, card, and regulatory workflows. Drive operational effectiveness through performance monitoring, capacity management, and continuous improvement. Ensure alignment with enterprise standards and control requirements. Lead process improvement, automation, and operational efficiency initiatives. Partner with technology and product teams to enhance systems and workflows.
Wealth Management Deposit Operations: Oversee deposit account maintenance aligned to Wealth Management products. Ensure execution of deposit activities, including exception management and regulatory adherence. Maintain compliance with applicable regulations, including Reg II, Reg CC, and Reg D.
Debit Card Operations: Oversee debit card operations, including card maintenance and error resolution. Ensure effective controls over card activity, including fraud monitoring, dispute management, and Regulation E compliance.
Tax and Regulatory Operations: Provide subject matter expertise on tax withholding, documentation, and reporting requirements across Banking Operations. Ensure adherence to regulatory requirements, including W‑8/W‑9 documentation, withholding obligations, CTR filings, escheatment, and IRA-related processes. Oversee tax reporting and withholding for U.S. and non-U.S. accounts, including 1099 and 1042‑S reporting. Oversee preparation and filing of Forms 945 and 1042 related to deposit activities. Act as control owner, ensuring appropriate control design, execution, and documentation.
Reconciliation, Controls & Issue Resolution: Oversee general ledger and operational reconciliations across Banking Operations. Monitor exceptions, discrepancies, and external inquiries; identify control gaps and lead resolution and process improvements. Ensure adherence to audit standards, documentation requirements, and record retention policies.
Audit, Compliance & Stakeholder Engagement: Serve as primary interface for internal audit, regulatory exams, and risk assessments. Lead coordination and remediation of findings, ensuring timely resolution. Act as liaison across stakeholders to ensure alignment on operational execution and regulatory expectations.
Required Experience
Bachelor’s degree in Accounting, Finance, Business, or related field.
7+ years of experience in banking operations or financial services.
Knowledge of W‑8/W‑9 documentation, withholding, and tax filings related to Banking Deposit Accounts.
Strong analytical, reconciliation, and problem-solving skills.
Proven ability to manage risk, controls, and operational processes.
Strong communication and stakeholder management skills.
Benefits
Northern Trust offers a comprehensive benefits package including:
Retirement benefits (401k and pension)
Health and welfare benefits (medical, dental, vision, spending accounts and disability)
Paid time off, parental and caregiver leave
Life & accident insurance
Other voluntary and well-being benefits
Discretionary bonus program with an equity component
Working Model
We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.