Senior Consultant, Business Analysis (Product)-Chicago

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.

As a Senior Consultant within the Business Analysis team of our Product Development department, you will play a crucial role in driving the strategic direction and development of our asset servicing solutions.

You will work closely with cross-functional teams to analyse business requirements, identify opportunities for improvement, and provide innovative solutions to meet the needs of our clients.

Additionally, you will conduct feasibility analysis on new products and product enhancements to determine their viability and potential impact on the organization.
 
Responsibilities:

• Business Analysis: Conduct thorough analysis of client requirements, business processes, and market trends to identify opportunities for product enhancement and innovation.
• Requirement Gathering: Collaborate with stakeholders to gather, document, and prioritize business requirements, ensuring alignment with organizational goals and objectives.
• Solution Design: Develop comprehensive solution designs in collaboration with architecture and technology teams, including functional specifications, wireframes, and process flows, to address business needs and drive product development initiatives.
• Feasibility Analysis: Evaluate the feasibility of new products and product enhancements by assessing factors such as market demand, technical feasibility, resource requirements, and potential return on investment.
• Operating Model Definition: Contribute to the definition of the operating model for new products and enhancements, including processes, roles and responsibilities, and technology infrastructure requirements.
• Operational Readiness: Provide oversight to operational readiness for new products and enhancements by collaborating with operational teams to define and implement processes, procedures, and controls, and providing training and support as needed.
• Stakeholder Engagement: Build strong relationships with internal and external stakeholders, including clients, product managers, developers, and QA teams, to foster collaboration and ensure alignment throughout the project lifecycle.
• Risk Assessment: Identify potential risks and issues related to product development initiatives and proactively implement mitigation strategies to minimize impact on project delivery and client satisfaction.
• Quality Assurance: Collaborate with QA teams and provide consultation to review test plans, participate in testing activities, and ensure the quality and reliability of deliverables before deployment to production.
• Continuous Improvement: Drive continuous improvement initiatives within the Business Analysis team and across the organization, leveraging industry best practices, feedback from stakeholders, and lessons learned from previous projects.

 
The ideal candidate should have a fair amount of the following skills and experience: 

• Bachelor's degree in Business Administration, Finance, Computer Science, or related field
• Proven experience in business analysis, product development, or related roles within the financial services industry, preferably in asset servicing or investment management.
• Strong analytical skills with the ability to translate complex business requirements into actionable solutions.
• Proven track record of successfully leading cross-functional teams and delivering high-quality products on time and within budget.
• Excellent communication and interpersonal skills, with the ability to effectively engage and influence stakeholders at all levels of the organization.
• Solid understanding of project management methodologies, agile practices, and software development lifecycle.
• Certification in business analysis (e.g., BCS, CBAP, PMI-PBA) and project management (e.g., PMP, PRINCE2) is a plus.

Salary Range:

$95,600 - 162,400 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 v