Northern Trust
Product Manager, Institutional (Finance)
PRIMARY DUTIES
•Researches, analyzes, and identifies new products which meet the needs of institutional trust clients and maintains the bank's competitive advantage.
•Consults with clients to identify product and service needs and to determine how well current products and services are meeting their needs.
•Determines and implements new product development and delivery strategies and policies; researches clients' needs, surveys competitors, reviews legislation, and presents recommendations.
•Functions as key liaison between the involved partner areas, outside consultants or vendors and the client to ensure that all product development and implementation needs are addressed, prioritized, and met.
•Maintains a thorough knowledge and awareness of legal requirements, regulatory environment, legislative changes, and marketing trends in the institutional trust industry to determine the direction for new products or enhancements to existing products.
•Works closely with systems, trust operations areas, and vendors or consultants, to assess processing capabilities of changes on existing systems and operations and to determine measures required for development and implementation.
•Conducts market and industry analyses to assess demographical changes, to tailor product packages to specific markets, and to determine product pricing and product profitability.
•Consults with sales and client servicing teams on specific product lines and new business development.
QUALIFICATIONS
•Minimum of 5 years of client servicing experience, preferably with sales or marketing.
KNOWLEDGE & SKILLS REQUIRED
•Knowledge of marketing analysis and product development usually acquired through a four year degree or related work experience is required to develop institutional trust products.
•Knowledge of interfacing systems and operations is needed to assess and plan for processing requirements.
•Organizational skills are needed to coordinate project teams.