New Business Specialist

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 Duties1. Lead and Advance New Institutional Business OpportunitiesSource and manage prospective nonprofit, endowment, and foundation relationships through both internal referrals and external market development effortsConduct comprehensive prospect profiling, including governance structure, investment objectives, spending policy, and current OCIO or advisory modelPosition Northern Trust’s OCIO and institutional investment capabilities in a way that aligns with each organization’s mission, financial priorities, and fiduciary responsibilitiesDetermine appropriate service model and introduce the most effective relationship and investment team based on client complexity and opportunityProactively engage prospective clients, board members, investment committees, and external advisors (e.g., consultants, attorneys, auditors) to build credibility and advance opportunitiesLead or support the full pursuit process, including:Coordinating and responding to RFPs and consultant-led searchesDeveloping tailored OCIO proposals and fee structuresPreparing and delivering presentations to investment committees and boardsAddressing due diligence inquiries and coordinating subject matter expertsPartner across banking, custody, and operations teams where relevant to deliver a cohesive institutional solution2. Expand Existing Nonprofit & OCIO RelationshipsCollaborate with Relationship Managers to identify opportunities to deepen existing institutional relationships, including OCIO conversions, asset consolidation, and expanded service offeringsProvide insights on client developments (e.g., governance changes, liquidity needs, strategic shifts) to support proactive engagement and cross-functional coordination3. Institutional Expertise and Thought LeadershipMaintain deep knowledge of nonprofit and OCIO market trends, including investment governance best practices, fee models, asset allocation frameworks, and competitive landscapeServe as a subject matter expert for internal partners on nonprofit client dynamics and OCIO positioning4. Strategic Execution and Cross-Functional LeadershipOperate independently in managing complex, multi-stakeholder opportunities that are broad in scope and often involve cross-functional coordinationBalance hands-on execution of business development activities with strategic input into segment growth initiativesContribute to the development and refinement of institutional sales strategies, messaging, and pursuit tactics5. Market Intelligence and Opportunity SourcingUtilize internal tools, industry networks, and market intelligence to identify new opportunities within the nonprofit and OCIO landscapeMonitor competitor positioning, consultant activity, and emerging trends to inform business development strategy6. Partner Development and Internal EnablementSupport the development of internal partners’ understanding of nonprofit and OCIO opportunitiesContribute to internal reporting, pipeline tracking, and presentations to senior leadership on segment growth and opportunity trendsKnowledge & SkillsStrong understanding of nonprofit, foundation, and endowment client segments, including governance and investment frameworksExpertise in OCIO models, institutional investment solutions, and fiduciary servicesExcellent oral and written communication skills, with the ability to engage effectively with boards and investment committeesHighly adaptable and able to navigate complex, relationship-driven sales processesStrong analytical and presentation capabilitiesExperienceBachelor’s degree and/or equivalent professional experience requiredRelevant experience in institutional asset management, OCIO, nonprofit advisory, or foundation/endowment client coverage strongly preferredApplicants 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 USDSalary 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. #MadeForGreaterReasonable accommodationNorthern 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 View email address on click.appcast.io 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. #J-18808-Ljbffr Northern Trust Corp.