Product Manager - Payments and Money Movement

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

  Responsible for executing the strategy of the product umbrella as outlined by the Lead Product Manager, Product Executive and Head of Product Management for the business unit. Responsible for Product Management Lifecycle activities such as defining the target client segment market and evaluating industry trends and uncovering opportunities. The senior product manager will also perform launches and post launch assessments/ recommendations. Acts as a resource for direction, training and guidance for less experienced staff.

  Additional Information

  Product Manager – Payments & Transfers

  
  Join our innovative team to lead digital payments product management, driving modern payment solutions and enhancing client trust and satisfaction. The main purpose of this job is to oversee and enhance our ACH, Wire Transfer, Instant Payments capabilities. The individual will also play a key role in driving several emerging payment projects including the Global Wire ISO 20022 Compliance program. A broad payment background is highly desired; Wire Transfer, ACH, RTP/FedNow, Check Disbursements, Integrated Payables, Integrated Receivables and International transactions.

  Major Duties

• Establish new product functions and committees for Payments modernization journeys and emerging rails across consumer and commercial business use cases.
• Serve as the go-to product owner for Payments Platforms communications across various user journeys.
• Manage Rules Program and Compliance Rules, driving organizational changes, engaging with partners to manage industry changes impacting roadmap and product set.
• Design and build new processes to address gaps, focusing on self-service, mobile, and client experience.
• Direct Wire and Good Funds/ Real-Time Payments online banking product roadmap and performance reporting, highlighting efficiency, resiliency improvements.
• Collaborate with Global Payment Operations practice on commercializing changes available from global ISO20022 and SWIFT initiatives.
• Lead change management, relationships, communications, across functional partners, ensuring compliance with risk and regulatory requirements.
• Maintain visibility over needs of client segments, product timelines, monitor blockers, and liaise with stakeholders.
• Engage with partners to manage industry changes impacting the roadmap and product set.
• Coach and mentor the digital payments delivery team on best practices for resource and dependency management.

• 
  Required Qualifications, Capabilities, and Skills:

• Minimum of 10 years of experience delivering products, with end-to-end ownership of payment instruments (ideal combination of traditional payment, ACH, Card, real-time payments, online and / or mobile channels).
• Experience in operational management, change readiness, incident management routines.
• Advanced knowledge of banking payment rails: ACH, Pay by Bank, Zelle, SWIFT, ISO20022, etc.
• Advanced knowledge of the product development life cycle, requirements management, and data analytics.
• Conduct regular feedback sessions to gain valuable customer feedback on the product features and enhancements being developed.
• Collaborative mindset with the ability to work effectively with diverse teams.
• Excellent analytical skills and ability to present fact-based recommendations.
• Develop sales support and marketing plans inclusive of solution offerings and pricing analysis.
• Strong communication and presentation skills across client facing, business and technology requirements.
• Experience writing user stories, epics, test cases, and business cases with working understanding of design thinking, and how to enable products and services through digital channels (online, mobile, etc.)
• Familiarity with tools such as Azure, JIRA, and Agile methodologies (e.g., sprint planning); Miro
• Advanced level proficiency with Microsoft Word, Excel, Teams, and Outlook 
• Conducts post launch audits, tracks product success, analyses P&L, metrics, KPIs, make recommendations for improvements.
• Proven ability to work in a fast-paced environment and manage multiple dependencies.
• Attend and represent the bank at industry events and publish in industry publications.
• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values
• Prior experience in Wealth Management or Private Banking preferred

• 
  Preferred Qualifications, Capabilities, and Skills:

• Bachelor’s degree in business administration or in related field or equivalent combination of education and experience required.
• 8+ years directly related product development, project management, and/or vendor management.
• 3+ years of experience in Agile product management managing medium to large product projects required.
• Financial Services industry experience preferred.
• Preferred experience with US domestic and international payment systems and networks (i.e., Fiserv, FIS, Federal Reserve, NACHA, The Clearinghouse, SWIFT, ISO20022)
• Familiarity with various implementation, migration, and conversion planning routines.
• 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.
• Assess industry movement and refine value-based pricing post the launch of new products

Salary Range:

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 [email protected].

 
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.