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.
Job ID: 84333554
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Median Salary
Net Salary per month
$4,027
Median Apartment Rent in City Center
(1-3 Bedroom)
$1,900
-
$2,450
$2,175
Safety Index
58/100
58
Utilities
Basic
(Electricity, heating, cooling, water, garbage for 915 sq ft apartment)
$150
-
$500
$244
High-Speed Internet
$60
-
$130
$78
Transportation
Gasoline
(1 gallon)
$3.44
Taxi Ride
(1 mile)
$2.22
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