Sr. Consultant, Global Controls 3 Locations

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 Summary

Northern Trust Asset Management (NTAM) is an over a trillion dollar investment management firm entrusted by investors around the globe to help them navigate changing market environments, so they can confidently realize their long-term objectives. 

The objective of the NTAM Business Control team is to support strong oversight of the global end to end system of controls through active engagement, thematic reviews, risk analysis and control deep dives to continuously manage and reduce NTAM’s residual risk profile. To achieve this goal, the control team works directly with the regional and global NTAM executives and the Risk team to establish the risk appetite, assess the control environment, establish governance and systems that identify, quantify, manage and monitor risk at the most granular level, and establish risk tolerances and risk management procedures and tools. It also assists in rapid issue identification and escalation, coordinates with the Business, Risk and Compliance, liaises with Audit and Regulators for exams, and ensures audit and regulatory issues are addressed expeditiously. It oversees reporting on all control programs to Management and the Board as needed, leads/supports projects to ensure full compliance as appropriate, partners internally to implement policy and regulatory changes as communicated by the second line of defense, and ensure changes are rolled out consistently across NTAM where applicable. Finally, it helps strengthen and reinforce a strong risk culture. 

The Sr. Consultant role will be primarily responsible for supporting the implementation of the global control team objectives and priorities.  This role will partner directly and frequently with business leaders, operational and IT partners, Risk, Audit, Compliance and other key stakeholders to lead and execute on strategic controls initiatives impacting NTAM such as implementation of the RCSA framework and its on-going oversight, and operational resilience initiatives. It will involve assessing, advising, testing, monitoring, and ultimately influencing the business on effective solutions to manage risk such as process analysis, data analysis, enhanced reporting, people leadership, compliance with changing regulatory requirements and an appreciation of technology required to achieve scale.

Primary Duties and Responsibilities

Support a global team focused on: Risk Identification & Assessment, Control Design & Evaluation, Issues & Control Monitoring, and Control Governance & Reporting. Responsibilities include:

• Manage the NTAM 1LOD Control Team’s BAU support of Risk and Control Self Assessments (RCSAs).  This will include overseeing progress of teams facilitating the ongoing RCSAs, maturing associated processes for execution and reporting, including NTAM’s issue management tracking, coordinating status and business outreach with control testing teams, and aligning with other 1LOD Control teams across Northern Trust

• Participate in the development of automated tools to support risk programs within 1LOD Control team’s responsibility.

• Manage accurate, timely and comprehensive reporting of controls effectiveness and compliance, remediation efforts to Management, 2LOD and 3LOD, Board, Regulators, and impacted business units, as applicable.

• Participate in projects devoted to remediating issues identified within audits and RCSAs, including enhancing control design through technology, automation, machine learning to reduce manual controls and enable preventative risk mitigation.

• Enhance reporting through the adoption of technology and analytics tools.

• Participate in operational reviews and new business initiatives to assess risk and advise management on solutions to mitigate it when outside of business risk appetite.

• Support the team through the continued implementation of the NT operational risk framework with a focus on the identification of Key Performance Indicators to provide ongoing monitoring of control performance.

• Partner effectively with business, risk, audit, legal, compliance, regulators and technology control functions to drive consistent and rigorous operational risk practices and control programs.

• Serve as a liaison for Risk, Audit and Regulatory reviews. Advise business on regulatory exams, audits, action plans, MRA responses, leveraging a proactive approach to ensure satisfactory resolution. 

• Ensure timely escalation and reporting of control deficiencies, incidents, breaches, and losses due to control failure.

• Champion and reinforce a culture of good compliance and risk awareness by providing on-going feedback, training, conducting educational sessions with the business and the control team.  

• Effectively collaborate with the global team to reduce financial losses, regulatory exposure and reputational risk. 

Necessary Knowledge and Skills

• Strong knowledge of Operational and Enterprise Risk Management (ERM) adept at and with a proven track record of working across multiple areas of businesses and functions.

• Knowledge of ERM trends and statistical techniques for operational risk management. 

• Project management and executive reporting experience.

• Strong consultative, process diagnostic and problem-solving skills with the ability to rapidly understand the business context, process and synthesize large amounts of data to identify and advise the business on risk mitigation or issue resolution.

• Ability to roll up sleeves to build and document processes, assess risk, identify and communicate solutions, and drive change.

• Strong influencing, facilitation and consensus building skills across the organization levels.

• Dynamic relationship building and partnership skills; a strong collaborator with experience leading initiatives across multiple groups and stakeholders.

• Outstanding communication and influencing skills, both written and verbal, with demonstrated ability to develop materials and effectively present to and persuade executive, Risk and Audit audiences and regulators.

• Flexibility and ability to rapidly adapt to change and shifting business priorities.

• Experience in adopting digital and automation-driven transformation to achieve robust “controls at scale.”

• Global outlook with sensitivity and awareness of social and cultural differences

• Strong situational awareness and decision-making capabilities.

Necessary Experience and Education

• 7-10 years in financial services, consulting, operational risk management or audit with a demonstrated record of operational risk management. Experience in Asset Management is preferred.

• Demonstrated success in the strategic development of policies, procedures and assessment of internal controls.

• Demonstrated ability in designing and implementing control testing.

• Demonstrated ability to take industry trends, innovative behaviors, data analytics, and automation to drive a proactive and anticipatory approach to all risk management and control design. Strong process diagnostic and project management skills; Six Sigma certification preferred.

Salary Range:

$83,100 - $112,200

Salary range is an estimate of base pay.  Northern Trust provides a comprehensive benefits package, including retirement and pension plan contributions, health and welfare benefits, paid time off, parental and caregiver leave, life insurance, and other wellbeing benefits.

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 MyHRHelp@ntrs.com.

 
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.