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Loan Operations Manager, Vice President
Northern Trust
Phoenix, AZ, United States
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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 December 31, 2017, Northern Trust Corporation had:
$139 billion in banking assets
$8.1 trillion in assets under custody
$10.7 trillion in assets under custody/administration
$1.2 trillion in assets under management
The key responsibilities of the role include:
The Head of Loan Operations will be responsible for the planning, organization, communication and successful execution of the operational processes for Loan Operations activities in compliance with applicable laws, regulatory and investor guidelines. Loan Operations supports the servicing of personal, residential, custom and commercial lending products for Northern Trust’s Wealth Management and Corporate and Institutional client base.
Seasoned manager with extensive business experience, multi-disciplinary functional expertise and with a focus on proactive management within the operations group. Provides guidance to both direct and indirect staff, fostering environment that encourages employee participation, teamwork and communication.
Drives value for the bank by improving service delivery, managing complexity, assessing risk, managing change, and balancing strategy and execution with the desired level of business performance. Position reports directly to the Senior Vice President of Banking/Loan Operations and will have the senior leaders of Loan Operations, including loan processing, collateral, credit disputes, letters of credit, loan files, tax and insurance oversight, business process management, and quality assurance. The Head of Loan Operations will be the lead contact with our risk partners (internal compliance, audit, and risk) as well as our other collaborative efforts with business partners on priorities and strategies.
Oversees, mentors and guides five+ senior leaders in multiple locations who manage the day to day operations across teams, including – custom, retail and commercial loan processing, collateral, credit disputes, tax and insurance, quality control and business process management.
Demonstrates a high level of creativity and critical thinking to address problems decisively and develop long term, sustainable solutions. Reinforces culture of shared ownership and accountability for results.
Set direction for the teams, establishes goal setting, process improvements, and staff planning. Prior track record of successful implementation and follow through in succession planning.
Champions communication through consistent, clear and concise verbal and written means. Communicate and motivate cross functional business partners as well as team leaders and front line team members. Demonstrate situational awareness with a strong sense of urgency by responding immediately to escalated issues and rapidly changing priorities.
Provide process and servicing expertise, guidance and leadership across all things servicing operations related. These include collaborating with other internal business departments to improve processes, leading responses and problem solving for major impact issues as well as building a high performing ops team.
Lead and facilitate working meetings that result in actionable items and provide direction to project team. Drive focus on forward progress and creativity, even when working through complex, often competing needs.
Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Northern Trust’s internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
Guides the oversight of vendors through senior operational leaders.
The successful candidate will benefit from having:
Bachelor's Degree Preferred
10+ years of experience in Lending operations, or related experience.
10+ years of leadership experience, managing managers, multi-site preferred.
10+ years in one or more of the following: project management, implementation or strategic planning.
Strong problem solving & strategic thinking skills with the ability to identify problems and recommend solutions.
Exceptional written and oral communication including facilitation & summarization skills to drive action and results.
Stays abreast of industry best practices, technologies, architectures, trends, and emerging technologies.
Must be highly organized and have a strong attention to detail including the ability to create and maintain documentation.
Working understanding of risk, compliance and regulatory requirements.
Ability to work with, lead and consult with all levels in the organization.
Have an innate ability to understand very complex processes and systems, immediately and intuitively understanding how they work and how they can be improved.
Adjusts positively to quickly-changing priorities and shifting goals.
Travel Requirements: up to 20% travel.