Client Executive Insurance Solutions at Northern Trust in Chicago, IL

Job description

About Northern Trust As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service. The Client Executive within the Insurance Solutions Group at Northern Trust manages and cultivates a client base comprised of existing and high potential insurance clients. Has ultimate responsibility for the retention and growth of assigned client portfolio across Northern Trust. Establishes oneself in the insurance marketplace and is involved in defined prospecting. The Client Executive provides client-specific advice-driven solutions that solidify current relationships while exploring and capturing additional opportunities. MAJOR DUTIES Manages complex master trust, custody/ asset services clients. Evaluates, designs, implements, and oversees clients' total relationship plan. Ultimate responsibility for all aspects of the relationship including worldwide custody and other asset servicing needs, investments, banking, credit, insurance investment accounting, treasury management services and proper introductions to Wealth Management as appropriate. Reviews individual client relationships to determine the banking, asset servicing, and investment needs of clients; anticipates and creates opportunities for enhancing these client relationships. Places emphasis on relationship building and participates in development of new solutions to client needs, brings in experts when appropriate, and closes the sale. Ensures smooth delivery of new services and communicates emerging needs. Initiates regular, ongoing dialogue with clients and clients' advisors. Counsels clients on emerging financial / industry issues, new bank products and services, and the general environment. Discusses impact on clients’ activities and the bank’s services. Manages client profitability. Understands the competitive environment and anticipates opportunities. Develops pricing strategies and works with the team to enhance profitability. Coordinates / leads Northern Trust wide relationship reviews in order to develop client-specific strategic relationship plans and assess progress in meeting the goals set forth in the plans. Interacts with and involves bank senior management in reporting client servicing activities / issues. Provides management with defined reports highlighting client profitability, contribution and any servicing gaps. Escalates issues appropriately. Provides input regarding team members' performance with respect to their overall contribution to team results. Participates in new business efforts and defined prospecting with insurance companies. KNOWLEDGE / SKILLS General knowledge of trust/asset servicing products, investments and insurance segment specific issues (e.g. various insurance company pools of assets, insurance investment accounting, unique reporting/ structure requirements). Broad knowledge of Northern Trust, industry issues and a strong understanding of the insurance client base, prospects and competitors. Demonstrated proficiency in Interpersonal skills, negotiation, delegation, and sales are necessary to service the client relationship. Leadership and organization skills are required to determine clients' needs and assess resources needed. EXPERIENCE REQUIRED Minimum of 10 years of experience in relationship management, new business development and client servicing with significant exposure