Manager, Product Management

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.

Job Profile Name: Manager, Product Management - Wealth Management

Job Profile Summary:

Responsible for executing the strategy of the product umbrella as outlined by the Lead Product Manager, Product Executive and Head of Product Management for the business unit. Responsible for Product Management Lifecycle activities such as defining the target client segment market and evaluating industry trends and uncovering opportunities. The Manager, Product Management will also perform launches and post launch assessments/ recommendations. Aspects of the role may span the full end-to-end processes within wealth management: planning / proposal generation, client onboarding, portfolio management, asset transfers / money movement, client reporting, fees and client / management reporting.  Act as a resource for direction, training and guidance for less experienced staff.  On an ongoing basis, Product Managers are responsible for creating strategic plans including the development of roadmaps and building out of business cases.

Job Description Major Duties:

• Analyzes new business opportunities and operational efficiencies by helping identify, research, and cultivate prospective strategic relationships with various institutions, markets, and individuals in new and existing markets

• Develop market insight by defining the target client segment markets and evaluating industry trends both from initiatives our competitors are taking on, offerings our clients are seeking and emerging technologies that we should explore leveraging

• Develop relationships across the organization within investments as well as across other wealth management practices, advisory, banking and brokerage

• Formulate strategy for the group by aligning cross functional teams, uncovering opportunities and determining life cycle states

• Shape the value proposition, develop the business case and define the roadmap as part of the new product planning process

• Manage the product development process, including the creation of a Proof-of-Concept where necessary

• Create strategies for cross-program coordination and go-to market rollouts

• Create the necessary support structures to operationalize and scale the longer-term support model necessary

• Assess industry movements and refine the business case and roadmap post launch of new products, offerings, technologies and processes

• Conduct post launch audits, track product success, analyze P &L / business case, metrics, and KPIs

• Carry out complex initiatives involving multiple disciplines and/or ambiguous issues

• Drive the adoption and change in behaviors around new initiatives and products launched

• Display a balanced, cross-functional perspective, liaising with the business to improve efficiency, effectiveness and productivity

• Provides leadership and guidance to staff, fostering an environment that encourages employee participation, teamwork, and communication

• Attend and present at industry events and publish in industry publications

Knowledge:

• Excellent oral and written communication skills are required. Proficient in constructing/overseeing logical and conclusive presentations, distilling complex subject matter into management-ready materials

• Knowledge of products, business areas or processes within Wealth Management and Asset Management, and a strong understanding of client needs and how this impacts the product development agenda/roadmap

• Excellent in building key relationships, influencing and negotiating with clients, partners and leaders across multiple disciplines

• Seasoned multi-disciplinary expert with extensive technical and / or business knowledge and functional expertise

• Program or project management experience is advantageous; planning, analysis, design and governance

• Knowledge of business strategy development is necessary to provide long term planning and to manage the profitability/performance