Manager, Banking Operations

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 worlds 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 22000 partners we serve the worlds 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 W8/W9 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 1042S 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

• Bachelors degree in Accounting Finance Business or related field
• 7 years of experience in banking operations or financial services
• Knowledge of W8/W9 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
• #LI-GG1
• #LI-Hybrid

Salary Range:

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.

Wed love to learn more about how your interests and experience could be a fit with one of the worlds most admired and sustainable companies! Build your career with us andapply 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 youre 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.