Job Description
New Business Specialist Northern Trust Corp. - 3.8 Chicago, IL Job Details Full-time $95,600 - $162,400 a year 4 hours ago Benefits Caregiver leave Health insurance Dental insurance 401(k) Paid time off Parental leave Vision insurance Qualifications Business development management Partnership strategy Stakeholder engagement Financial sales Sales proposal development Sales reporting Referral-based lead generation Writing skills Sales referrals Presentations for conferences or internal meetings Collaboration with board members Mid-level Analysis skills Bachelor's degree Sales growth strategy Industry trends Asset allocation strategy Initial Contact (sales skills) Prospecting Business development within finance Sales strategy Client acquisition Sales pipeline management Due diligence Client growth strategy Request for proposal Client referrals Implementation of strategic initiatives Relationship building in financial sales Cross-functional collaboration
Full 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. The New Business Specialist is responsible for originating and advancing new business opportunities within the nonprofit, endowment, foundation, and OCIO (Outsourced Chief Investment Officer) client segments. This role focuses on identifying, cultivating, and converting prospective institutional relationships by aligning Northern Trust's OCIO, investment management, and fiduciary capabilities with the complex needs of mission-driven organizations. The Specialist serves as a key connector between prospective clients and the broader service team, ensuring a thoughtful and strategic approach to positioning Northern Trust's institutional capabilities. Engagement may range from early-stage education and market outreach to full-cycle pursuit management, depending on a prospect's awareness, sophistication, and readiness to engage. A deep understanding of nonprofit governance structures, investment pools, spending policies, and OCIO delivery models is essential, along with knowledge of broader Asset Management and Corporate & Institutional Services capabilities. Major Duties 1. Lead and Advance New Institutional Business Opportunities Source and manage prospective nonprofit, endowment, and foundation relationships through both internal referrals and external market development efforts Conduct comprehensive prospect profiling, including governance structure, investment objectives, spending policy, and current OCIO or advisory model Position Northern Trust's OCIO and institutional investment capabilities in a way that aligns with each organization's mission, financial priorities, and fiduciary responsibilities Determine appropriate service model and introduce the most effective relationship and investment team based on client complexity and opportunity Proactively engage prospective clients, board members, investment committees, and external advisors (e.g., consultants, attorneys, auditors) to build credibility and advance opportunities Lead or support the full pursuit process, including: Coordinating and responding to RFPs and consultant-led searches Developing tailored OCIO proposals and fee structures Preparing and delivering presentations to investment committees and boards Addressing due diligence inquiries and coordinating subject matter experts Partner across banking, custody, and operations teams where relevant to deliver a cohesive institutional solution 2. Expand Existing Nonprofit & OCIO Relationships Collaborate with Relationship Managers to identify opportunities to deepen existing institutional relationships, including OCIO conversions, asset consolidation, and expanded service offerings Provide insights on client developments (e.g., governance changes, liquidity needs, strategic shifts) to support proactive engagement and cross-functional coordination 3. Institutional Expertise and Thought Leadership Maintain deep knowledge of nonprofit and OCIO market trends, including investment governance best practices, fee models, asset allocation frameworks, and competitive landscape Serve as a subject matter expert for internal partners on nonprofit client dynamics and OCIO positioning 4. Strategic Execution and Cross-Functional Leadership Operate independently in managing complex, multi-stakeholder opportunities that are broad in scope and often involve cross-functional coordination Balance hands-on execution of business development activities with strategic input into segment growth initiatives Contribute to the development and refinement of institutional sales strategies, messaging, and pursuit tactics 5. Market Intelligence and Opportunity Sourcing Utilize internal tools, industry networks, and market intelligence to identify new opportunities within the nonprofit and OCIO landscape Monitor competitor positioning, consultant activity, and emerging trends to inform business development strategy 6. Partner Development and Internal Enablement Support the development of internal partners' understanding of nonprofit and OCIO opportunities Contribute to internal reporting, pipeline tracking, and presentations to senior leadership on segment growth and opportunity trends Knowledge & Skills Strong understanding of nonprofit, foundation, and endowment client segments, including governance and investment frameworks Expertise in OCIO models, institutional investment solutions, and fiduciary services Excellent oral and written communication skills, with the ability to engage effectively with boards and investment committees Highly adaptable and able to navigate complex, relationship-driven sales processes Strong analytical and presentation capabilities Experience Bachelor's degree and/or equivalent professional experience required Relevant experience in institutional asset management, OCIO, nonprofit advisory, or foundation/endowment client coverage strongly preferred Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa) Salary Range:
$95,600 - 162,400 USD Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component. Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose. We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater Reasonable accommodation Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at . We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people. Apply today and talk to us about your flexible working requirements and together we can achieve greater.
