About Northern Trust
Northern Trust is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. We 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.
We serve the world's most sophisticated clients using leading technology and exceptional service with over 22,000 partners and more than 130 years of financial experience.
Job Description:
The role reports to the Chief Operating Officer and provides strategic leadership and direction across the first line of defense with regards to executing the Enterprise Risk Management Framework, with special focus on Legal Entity Governance, Compliance, and Intra-Company Arrangements.
The successful candidate will demonstrate some of the following skills:
Executive Leadership and Strategy
Provide strategic leadership and direction across the first line of defense with regards to executing the Enterprise Risk Management Framework, with special focus on Legal Entity Governance, Compliance, and Intra-Company Arrangements.
Engage with the Board of Directors, Risk and Operating Committees, internal Executive Leadership and external regulatory bodies on risk and resiliency matters.
Participate in key committees to provide insights and guidance on risk and resiliency matters.
Legal Entity Oversight
Oversee the organization's legal entities to ensure they are operating in compliance with all relevant laws and regulations.
This includes ensuring that each legal entity is appropriately structured and capitalized, monitoring their activities to ensure alignment with its stated purpose and business strategy, and overseeing the governance arrangements for each legal entity, including the composition and effectiveness of its board of directors.
Compliance Governance
Ensure compliance with all relevant laws and regulations and develop and implement risk management policies and procedures.
Work with regional Conduct Offices to optimize compliance processes and reporting within the first line of defense.
Business Process Transition Risk Management
Review process transitions, escalate migration issues, and ensure operational readiness.
Intercompany Arrangements (ICA): Provide functional oversight and completion of Intra-Company Arrangements (ICA), maintain the register of ICAs, support due diligence, and track ICA issues.
Service Level Agreements
Maintain the inventory of internal service level agreements (SLAs) between the COO Business Services organizations and internal customers - Business Units/Corporate Groups and Legal Entities (LE).
Establish tracking and reporting to measure the effectiveness and efficiency of the COO operational units in delivering its services to the rest of the enterprise.
Content Management & Reporting
Develop and maintain a centralized systems to provide a comprehensive view of the legal entities management and COO business services.
Aggregate, produce and distribute non-risk reporting to Legal Entities and COO to enable discharge of duties - e.g., COO operational SLAs, ICAs, performance metrics, etc.
Risk Culture
Promote a culture of risk awareness and compliance within the organization, ensuring that all employees understand their role in managing risk.
Stakeholder Management: Collaborate with other departments, including the second line of defense and internal audit, to ensure alignment on risk management practices.