Specialist, Business Management - Investment Operations

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.Role OverviewThe Specialist, Business Management role sits within the Investment Operations / COO organization and operates at the crossroads of Fee Billing execution, revenue oversight platform development, and business analysis. This role is critical to ensuring the accuracy, transparency, scalability, and future-state evolution of the firm’s fee billing and revenue oversight capabilities.The Specialist will partner closely with the Fee Billing Team, OCIO and Investment Operations stakeholders, Technology, and Data teams to support the end-to-end invoicing lifecycle while also leading business analysis and requirements definition for enhancements to the Revenue Oversight Platform. The role blends hands-on operational support with analytical rigor, project governance, and strong technical fluency in SQL and Snowflake.Key ResponsibilitiesFee Billing & Revenue Operations SupportSupport the end-to-end invoicing lifecycle, including development, compilation, review, validation, and distribution of client invoices across multiple asset classes and product structures.Act as a subject matter expert on fee billing processes, fee schedules, and underlying data flows, proactively identifying risks, breaks, and opportunities for improvement.Partner with the Fee Billing Team to investigate and resolve complex billing exceptions, discrepancies, and client inquiries.Embed strong risk mitigation, controls, and documentation into all billing and revenue-related processes.Revenue Oversight Platform DevelopmentSupport the design, build, and ongoing enhancement of the Revenue Oversight Platform, serving as a key liaison between business users and technology teams.Perform gap analysis on existing tools, processes, and data to identify functional and technical enhancements.Translate business needs into clear, actionable artifacts (business requirements, functional specifications, user stories, acceptance criteria).Participate in testing, UAT, release validation, and post-implementation reviews to ensure platform changes meet business and control expectations.Contribute to quarterly product and enhancement roadmaps in partnership with Technology, Data, and Business stakeholders.Business Analysis & Process ImprovementConduct current-state and future-state process mapping across fee billing, revenue calculation, reconciliation, and reporting workflows.Lead root-cause analysis on operational issues, data inconsistencies, and process inefficiencies.Identify automation and scalability opportunities aligned with digital transformation initiatives.Partner with Global Investment Operations, Client Service, Institutional, and Wealth stakeholders to ensure solutions optimize the client and partner experience.Project Management & Stakeholder EngagementSupport project governance activities, including documentation of decisions, risks, issues, dependencies, and status reporting.Manage and prioritize work intake through backlog management tools (e.g., Azure DevOps, Jira, or equivalent).Facilitate working sessions and cross-functional forums to gather requirements, align on priorities, and drive consensus.Communicate effectively with operational leaders and senior stakeholders, tailoring messaging to technical and non-technical audiences.Technical & Analytical SkillsStrong proficiency in SQL, including writing complex queries to analyze large, structured datasets.Hands-on experience with Snowflake or similar cloud data platforms, including querying, validating, and understanding data models.Ability to work comfortably within structured data models and partner with data engineering teams on data sourcing and transformation.Advanced analytical and problem-solving skills with strong attention to detail.Necessary Experience and Education3–5+ years of experience in investment operations, fee billing, business analysis, or related financial services roles.Asset Management experience strongly preferred.Demonstrated experience supporting operational teams while also leading business analysis and project-based work.Proven ability to work independently on complex, high-impact initiatives while collaborating effectively across functions.Bachelor’s degree or equivalent experience required; advanced degree or relevant certifications (e.g., Business Analysis, Project Management, Lean/Six Sigma) a plus.Necessary Skills and CompetenciesBusiness and gap analysisProcess improvement and automation mindsetStrong communication (written and verbal)Stakeholder management and influence without authorityAdaptability in a fast-paced, deadline-driven environmentHigh degree of ownership, accountability, and situational awarenessSalary Range:$114,700 - 194,900 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. #MadeForGreater Reasonable 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.SummaryLocation: Chicago, ILType: Full time