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Senior Vice President Loan Operations, Chicago
Northern Trust
Chicago, IL, 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 March 31, 2018, Northern Trust Corporation had:
$10.8 trillion in assets under custody/administration
$8.1 trillion in assets under custody
$1.2 trillion in assets under management
$130 billion in banking assets
The key responsibilities of the role include:
DESCRIPTION:
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 and commercial lending, custom, personal, residential, products for Northern Trust’s Corporate and Institutional client base and Wealth Management.
Responsibilities:
• 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 head 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, for –commercial, custom, and retail loan processing. Including related collateral, credit disputes, tax and insurance, quality control and business process management.
• Demonstrates a high level of 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.
• 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:
• BS/BS in Business, Finance Accounting preferred or additional related work experience.
• 10+ years financial services operations.
• Previous work experience in commercial banking loan operations.
• Past managerial experience of increasing levels of responsibility.
• Effective managerial level oral and written communication skills.
• Software-knowledge of FIS IBS would be helpful-Potential for travel in this role up to 20% of the time.