Fiduciary Specialist, Foundations & Institutional Advisors at Northern Trust

Chicago, Illinois, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, Wealth ManagementIndustries

Requirements

Knowledge of fiduciary and financial products and services, usually acquired through related work experience, with a focus on institutional clients
Technical knowledge of investments, tax, legal, and operations, usually acquired through formal education or related experience
Strong understanding of and experience with tax-exempt entities
Clear knowledge of governing documents, account agreements, fiduciary duties, applicable laws, and oversight
Knowledge of Northern Trust fiduciary standards, practices, internal policies, processes, and procedures for prudent risk management
Excellent time management skills, responsiveness, diplomacy, and tact
Ability to explain complicated concepts using non-technical terminology
Ability to exercise judgment based on analysis of multiple sources of information
Willingness to travel to meet clients where appropriate

Responsibilities

Manage assigned account base of WM FIA clients by working with clients and their professional advisors to develop a thorough understanding of the client’s needs and goals
Provide proactive advice to clients on NT’s products/services, emerging issues, regulatory/tax changes, and appropriate actions
Combine technical knowledge with fact finding and analysis to develop advice-driven solutions for clients
Maintain a working knowledge of various NT resources and utilize fiduciary knowledge, experience, and NT resources to identify opportunities for relationship enhancement
Deliver focused client service with responsiveness, diplomacy, and tact through proactive written and verbal communication
Build and maintain knowledge of NT fiduciary standards and practices, applying fiduciary knowledge and judgment to fiduciary relationships
Recognize fiduciary risk issues and seek appropriate resolution
Participate in forums with other fiduciary specialists in Wealth Management
Teach, mentor, and support less experienced partners with less fiduciary knowledge
Advise FIA Client Advisors on fiduciary issues and maintain/deliver training programs set forward by FIA and supported by Fiduciary Risk
Assist with other fiduciary related projects and requests as needed
Travel to meet with clients considering revenue, new business opportunities, or servicing requirements
Seek continued development of fiduciary and advisory skills through training and experience
Collaborate with the Client Advisor team and utilize NT resources for timely delivery of high quality fiduciary service, issue resolution, onboarding assistance, effective communication of client needs, and development of advisory relationships
Serve as Fiduciary Specialist in the background for fiduciary accounts not assigned to a Fiduciary Specialist