Northern Trust Front Office Solutions has launched Operational Risk Consulting, a bespoke service that provides management consulting with a specialised focus on investment operations.
The service deploys the expertise of Northern Trust to identify enhancements to operating models and drive operational efficiencies.
“The velocity of change accelerated within the investment industry in 2020, and institutions can no longer ignore the effects on both operations and business,” says Vincent Molino, Head of Operational Risk Management Solutions at Northern Trust, who will lead the new consulting service. “Looking to 2021, many investment organizations realise their operating models will need to evolve to respond to the expectations of key stakeholders such as investors or beneficiaries, business partners, investment consultants and governance bodies.”
As organisations evolve, Operational Risk Consulting can provide enhancements to front, middle, and back offices, advising on the adoption of new technologies and recent trends toward consolidation. Along with asset management firms, organisations such as outsourced chief investment officer (OCIO) firms and family offices are looking for help in building out robust and future-proofed operations as they grow in complexity and sophistication.
“Northern Trust’s extensive experience in helping investment groups manage and evolve their operating models aligns with our Whole Office strategy to provide integrated services and technology across the investment lifecycle. Combining this perspective with insights from our Operational Due Diligence practice leverages our expertise in enterprise assessment and provides solutions that enhance operations to the specific needs of individual clients,” Molino says.