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Director of Investment Product Management, National Investment Practice
Northern Trust
Chicago, IL, United States
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The Director of Investment Product Management plays a critical role in the Wealth Management (WM) National Investment Practice (Office of the Chief Investment Officer). The role supports the execution of product needs for our high net worth, ultra-high net worth and foundations/endowment clients across all major asset classes, delivered through our teams of investment professionals across the US. This position requires strong coordination and communication with Wealth Management leaders, internal and external stakeholders, and multi-disciplinary cross-functional teams.
The Director of Investment Product Management is responsible for overseeing internal and 3rd party products approved for use on the Wealth Management Platform totaling ~$280B in AUM and for evaluating new product opportunities that are both relevant and suitable for use by our clients. This position will play a key role in supporting overall product strategy, executing on product-related strategic initiatives, participating and/or leading select investment committee meetings, coordinating internal education of client service teams on the merits of products approved for use on the platform, engaging with internal and 3rd party managers on new and existing products, tracking external market/industry/competitive dynamics, and driving analytical insights related to WM product trends (e.g., product performance, attribution, fees, risk, etc.).
Major Duties of the Director of Investment Product Management:
• Implement vision for Investment Product in Wealth Management
• Execute investment product roadmap in conjunction with Wealth Management Portfolio Research team, owning the implementation of products added or removed from the platform
• Lead the implementation of product-related strategic initiatives
• Communicate information to the field of portfolio advisors related to the approved products on our platform, i.e.:
◦ Proactive outreach regarding approved capabilities
◦ Coordination of advisor education on internal and 3rd party products
◦ Respond to enquiries from the field and provide ongoing support
• Lead best practice portfolio evolution, implementation and ongoing management
• Develop and manage strong relationships with internal and 3rd party product managers, select vendors, and key internal stakeholders (e.g., marketing, legal, risk)
• Engage with investment leaders and advisor teams across the network, soliciting feedback and providing guidance on our suite of products
• Ensure product-related collateral materials are updated and available for use by investment advisors
• Drive analytical insights related to financial/impact analysis of products on the platform and manage product dashboard with KPIs that help inform trends on product characteristics
• Research/monitor industry developments and competitor developments to support product positioning, pricing, placement and identify gaps/opportunities in product offering
• Work closely with COO/Director of Operations on management/execution of product operations and ensure products are compliant with regulatory requirements through coordination with Director of Investment Compliance
• Manage and develop high performing team
• 10+ years’ experience working in wealth/investment management
• Quantitative educational background with academic success (e.g., Bachelor’s in Finance, Investments, Economics, Mathematics, Engineering) and/or relevant certifications highly desired (e.g., MBA, CFA, CIMA, PhD)
• Deep knowledge of multiple traditional and non-traditional asset classes, global financial markets and product operations; experience as portfolio manager a plus
• Strong analytical skills, including experience in strategic problem solving
• Excellent interpersonal, communication (verbal and written) and presentation skills
• Well organized, detail oriented and disciplined in approach
• Ability to work effectively within a collegial, team environment
• High degree of integrity and strives to share with the team in success
• Self-directed with ability to escalate as needed
• Passion for asset management, capital markets and portfolio management
• Demonstrable experience in product management with track record of successful execution
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
As of September 30, 2017, Northern Trust Corporation had:
$131 billion in banking assets
$7.8 trillion in assets under custody
$9.7 trillion in assets under custody/administration
$1.1 trillion in assets under management