Job Description

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.  

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Job Description Summary

The Banking & Treasury Services (BTS) Lead Product Manager is a business leader with responsibility for BTS’ product group. As a strategic thinker, they lead the product team and are supported by subject matter experts, business analysts and product managers as needed and are accountable to the Business/Product Executive. The Lead Product Manager conducts performance management and career development processes and makes staffing decisions.

Major Duties:

Responsible for management of BTS product lifecycle and the issues that impact the delivery of capability or service which include:
Discovery and Innovation: Derive market insights and formulate product strategy
New Product Planning: Concept, feasibility and definition
New Product Introduction: Development and launch of product
Post-Launch Product Management: Performance & lifecycle management
Leads, motivates and cultivates a team of product managers to manage product group
Vendor engagement and management
Ensures the development and execution of product roadmaps with 3–5-year horizons that outline the strategic goals as determined and prioritized in partnership with the Product Executive and Business Stakeholders.
Partner with Technology Lead to ensure recommended roadmap is feasible and aligns with corporate/C&IS technology strategy
Manages the alignment of the business strategy and objectives to the product strategy
Ensures reliability, performance, quality and robustness of the product group
Ensures that industry and market research is conducted on product viability and competitive threats and understand how they may impact product strategies
Assesses the investment needs (capital and expense) through understanding trends, client’s needs and roadmap review and makes recommendations to the Product Executive and Business Stakeholders
Oversees the capital planning process and capital projects through formal product and program governance.
Represents organization with thought leadership - product at industry events, in publications, and at client events
Establishes, manages and monitors the financial and market progress of product group through metrics and key performance indicators
Understand the impact of new regulations on the business and how that may impact the business strategy
Serves as main product point of contact for sales teams, communicates new features and their value proposition, oversees RFI, RFPs and due diligence responses
Displays a balanced, cross-functional perspective, liaising with the business to improve efficiency, effectiveness and productivity
Makes staffing decisions, manages expenses and salary review process for the division
Participates in developing division strategic plan and sets goals and priorities based on the direction set for the unit; follows through to ensure that objectives are met
Provides leadership and guidance to staff, fostering an environment that encourages employee participation, teamwork, and communication.

Knowledge:

Strong understanding or knowledge of banking product (transaction banking and treasury management) and a strong understanding of client needs and how this impacts the product development agenda/roadmap
Excellent oral and written communication skills are required.
Proficient in constructing/overseeing logical and conclusive presentations, distilling complex subject matter into management-ready materials
Proven business leadership skills, with track record of building products and /or understanding of the core concepts of product management required.
Ability to understand and grow the strategic business vision
Proven track record of managing, leading, coaching and developing a team
Excellent in building key relationships, influencing and negotiating with clients, partners and leaders across multiple disciplines
Program or project management experience is advantageous, planning, analysis, design and governance
Knowledge of business strategy development is necessary to provide long term planning and to manage the profitability/performance of a major business segment.
Leadership and organizational skills are required to determine the Business Unit's goals, resources needed, and to assess and develop the skills of staff.

Experience:

A college or university degree and/or relevant proven work experience is required.
Related Industry qualification (e.g. CTP) is desired.
A minimum of 10 years of experience.
Must have direct experience in product and banking.
Must have expertise in banking across treasury management and transaction banking including global payments.
Proven success in product and software development including vendor management.