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 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…