Job Description
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/ Department:
The First line of Defense (1LOD), Business Unit Control Practice Lead will support the execution of 1LOD efforts regarding NT’s risk and control posture, specifically for the organization’s Banking and Markets back office and Collateral teams. This role is part of a global risk and control team, where the focus is on managing risk, identifying controls and monitoring activities within the first line for execution of risk and control-related programs. This will be accomplished by oversight on the development and enhancement, execution, and design of various processes to support risk management.
The key responsibilities of the role include:
Assists the business in advising and overseeing execution of their risk and control processes, including but not limited to risk control self-assessments, audit remediation, loss reporting, and system and processes changes.
Provides insights and challenge to the execution of risk and control self-assessments for Banking and Markets and Global Collateral areas, among others, to ensure that the risks and controls are completely and accurately identified, documented and assessed.
Work with the Internal Audit team to ensure that identified action plans and remediating actions are appropriate to mitigate the identified risk and achieve the objectives of audit’s observations.
Review remediation work performed to ensure implementation was complete, accurate and timely to address the identified issues, including regular tracking, reporting and oversight of remediation.
Manages and oversee account servicing losses for supported teams, including ensuring appropriate root cause actions have been identified, documented and resolved, as needed.
Assist the business to assess system and process changes for feasibility of execution, identification of risks and appropriate controls.
Maintain relationships with key personnel throughout the organization and across the lines of defense to ensure program execution is achieving desired results.
Work with 1LOD stakeholders to understand their roles and responsibilities related to risk, resiliency and control and ensure that accountability for process and control operation is understood.
Escalates gaps identified from risk and control assessments and other advising work in a timely and effective manner.
Provides training and support to business unit leaders and other stakeholders on risk and control programs, responsibilities and desired outcomes.
Determines quality objectives, standards, and levels, with input from stakeholders, to establish the basis for quality outcomes.
Skills/ Qualifications:
The successful candidate will benefit from having:
Experience in working across lines of defense to execute risk and control programs in order to completely identify, assess, manage and treat risk.
Experience in identifying, documenting, testing and reviewing controls to ensure they are designed and operating appropriately to mitigate identified risks.
Experience developing reporting, and effectively and efficiently communicating program status and outcomes at different levels of the organization (i.e., from individual contributor to Management)
Experience leading multiple priorities and managers in program execution, escalation and oversight.
Demonstrated understanding of business and technology operations, resources, priorities, and policies.
Ability to adapt to changing priorities in an evolving environment.
Ability to lead teams and develop / maintain relationships with stakeholders from various lines of business and functional areas.
In-depth knowledge of Financial Services’ business capabilities, applications, processes and infrastructure required to deliver end-to-end capability.
Substantial experience in designing, executing and leading risk control self-assessments and other control programs.
Deep knowledge of risk and control self-assessment programs, control testing, root cause reviews and other area requiring critical thinking.
Experience developing and presenting reporting to various stakeholder groups.
Substantial experience building and cultivating relationships across the three lines of defense in order to maintain quality execution of risk and control-related programs.
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/ Department:
The First line of Defense (1LOD), Business Unit Control Practice Lead will support the execution of 1LOD efforts regarding NT’s risk and control posture, specifically for the organization’s Banking and Markets back office and Collateral teams. This role is part of a global risk and control team, where the focus is on managing risk, identifying controls and monitoring activities within the first line for execution of risk and control-related programs. This will be accomplished by oversight on the development and enhancement, execution, and design of various processes to support risk management.
The key responsibilities of the role include:
Assists the business in advising and overseeing execution of their risk and control processes, including but not limited to risk control self-assessments, audit remediation, loss reporting, and system and processes changes.
Provides insights and challenge to the execution of risk and control self-assessments for Banking and Markets and Global Collateral areas, among others, to ensure that the risks and controls are completely and accurately identified, documented and assessed.
Work with the Internal Audit team to ensure that identified action plans and remediating actions are appropriate to mitigate the identified risk and achieve the objectives of audit’s observations.
Review remediation work performed to ensure implementation was complete, accurate and timely to address the identified issues, including regular tracking, reporting and oversight of remediation.
Manages and oversee account servicing losses for supported teams, including ensuring appropriate root cause actions have been identified, documented and resolved, as needed.
Assist the business to assess system and process changes for feasibility of execution, identification of risks and appropriate controls.
Maintain relationships with key personnel throughout the organization and across the lines of defense to ensure program execution is achieving desired results.
Work with 1LOD stakeholders to understand their roles and responsibilities related to risk, resiliency and control and ensure that accountability for process and control operation is understood.
Escalates gaps identified from risk and control assessments and other advising work in a timely and effective manner.
Provides training and support to business unit leaders and other stakeholders on risk and control programs, responsibilities and desired outcomes.
Determines quality objectives, standards, and levels, with input from stakeholders, to establish the basis for quality outcomes.
Skills/ Qualifications:
The successful candidate will benefit from having:
Experience in working across lines of defense to execute risk and control programs in order to completely identify, assess, manage and treat risk.
Experience in identifying, documenting, testing and reviewing controls to ensure they are designed and operating appropriately to mitigate identified risks.
Experience developing reporting, and effectively and efficiently communicating program status and outcomes at different levels of the organization (i.e., from individual contributor to Management)
Experience leading multiple priorities and managers in program execution, escalation and oversight.
Demonstrated understanding of business and technology operations, resources, priorities, and policies.
Ability to adapt to changing priorities in an evolving environment.
Ability to lead teams and develop / maintain relationships with stakeholders from various lines of business and functional areas.
In-depth knowledge of Financial Services’ business capabilities, applications, processes and infrastructure required to deliver end-to-end capability.
Substantial experience in designing, executing and leading risk control self-assessments and other control programs.
Deep knowledge of risk and control self-assessment programs, control testing, root cause reviews and other area requiring critical thinking.
Experience developing and presenting reporting to various stakeholder groups.
Substantial experience building and cultivating relationships across the three lines of defense in order to maintain quality execution of risk and control-related programs.
💡 Quick Summary
Seeking a career-building opportunity? The Practice Lead, Business Unit Control - Banking & Markets position is now open for candidates interested in the Bank Jobs sector. This role in London offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
