Description

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.

Summary

The Manager - Banking Operations is accountable for the execution, control environment, and regulatory adherence of core Banking Operations functions. This role ensures effective oversight of deposit, card, and regulatory activities while maintaining strong risk management and compliance with applicable requirements.

The manager oversees deposit operations, debit card operations, and tax and regulatory processes supporting Wealth Management deposit products. As a key control owner and subject matter expert in tax withholding, the role partners with Compliance, Risk, Legal, Fraud, Payments, and Wealth Management teams to mitigate risk, ensure accuracy, and support audits and regulatory reviews. Leads a team responsible for execution and oversight of key Banking Operations functions, ensuring strong performance, risk management, and regulatory compliance.

Working Model: Hybrid

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.

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
• Drive process improvement, automation, and operational efficiency initiatives
• Partner with technology and product teams to enhance systems and workflows

People Leadership

• Lead, coach, and develop a team within Banking Operations
• Manage performance, capacity, and workload planning
• Foster a strong risk and control culture while driving engagement and development

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 Acounts
• Strong analytical, reconciliation, and problem-solving skills
• Proven ability to manage risk, controls, and operational processes
• Strong communication and stakeholder management skills

Salary Range:
$117,230 - 205,200 USD

Salary range is a good faith estimate of base pay. Northern Trust provides 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, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

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 MyHRHelp@ntrs.com .

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.