Senior Legal Counsel – Banking and Markets Group

About this role

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.

Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.

With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

As a member of Northern Trust’s Legal Department, this attorney will provide high quality legal advice and counsel to our senior management and business partners in a manner consistent with our enduring principles of service, expertise and integrity.  The attorney will advise on a wide range of banking legal matters, with primary responsibilities including private wealth and commercial credit transactions, bank regulatory matters, bank policies and practices, and other banking-related issues.  The position is in the Banking and Markets Group within the Legal Department and reports to a Deputy General Counsel. 

Major Duties • Advises business partners on all legal aspects of private client, professional services, not-for-profit and commercial credit matters including structuring, drafting, reviewing and negotiating secured and unsecured loan transactions, commercial and residential real estate financings, and letters of credit; • Advises business partners on legal and regulatory aspects of other banking products and accounts (deposits, payments); • Advises business partners and corporate functions on banking regulations such as Regulation U, Regulation O, Rule 144, legal lending limits, and other applicable federal and state banking laws and regulations; • Advises business partners and corporate functions on legal and regulatory aspects of new banking products and business strategy; • Provides legal support for distressed loan workouts, special assets matters, restructurings, and related risk-management initiatives;   • Assists in drafting and reviewing credit and other banking policies, standards and procedures; • Advises committees and working groups in assigned areas of responsibility; • Provides legal support for other corporate initiatives, as requested; • Works with and manages outside counsel on matters requiring outside legal assistance; and • Supports other members of the Banking and Markets Group and the Legal Department.

Skills/Experience Required The ideal candidate would have the following skills and experience: • Extensive experience drafting and negotiating secured and unsecured loan documentation and other banking-related contracts; • Experience with distressed loan workout matters, real estate lending, and/or deposit products and services a plus; • Ability to work cooperatively with all levels of the organization and provide solutions-oriented legal advice on a wide range of banking and other matters, appropriately managing risk while supporting business objectives; • Ability to conduct in-depth legal analysis and provide practical, solutions-oriented advice; • Excellent oral and written communication skills; • Ability to work collaboratively on teams, both within the Legal Department and with business partners and other stakeholders; • Ability to build trusted relationships with business partners, clients and outside counsel; and Up-to-date knowledge of and enthusiasm for learning about existing and emerging legal and regulatory developments impacting banking, lending, payments, and deposit products.

Qualifications/Experience • Ideally 8+ years of experience at a nationally recognized law firm or in-house legal department advising financial institutions or clients in relevant areas; • JD from an accredited law school; and • Must possess a J.D. degree from an accredited law school and must meet attorney licensing requirements in the jurisdiction in which the position will be located, prior to and after commencing employment.

Working Model: Hybrid (#LI-Hybrid) We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

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: $160,100 - 272,300 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.

Work Authorization

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).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed

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