Job Specifications
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.
Working Model: 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.
Summary
The Control Specialist is responsible for providing support and oversight of the operational control environment for the designated practice areas. The Specialist must consistently identify risk, articulate the risk, and propose solutions to address risk to the practice area control manager and the control leadership team. The Specialist consistently displays a balanced, cross-functional perspective, collaborating with the business, Control, and relevant Northern Trust counterparts (e.g., Risk, Legal, Compliance, Audit, etc.) to improve efficiency, control effectiveness, and productivity.
The Specialist has specific knowledge or expertise typically gained through formal education or equivalent experience. Uses expertise to provide guidance to others. Requires specialized depth and/or breadth of expertise in own job discipline or field. Leads others to solve complex problems.
Works independently, with limited guidance in the most complex situations. May lead functional teams or projects.
Major Duties
Advise and assist Business Units on implementing the control framework and ensure adherence to maintaining the control processes in accordance with the highest standards and best practices.
Conduct process Risk Assessments for practice area(s). Ensure proper preventative and detective controls are in place for the practice functions assessed and prepare recommendations to strengthen control weaknesses.
Support the risk-based control test plan to identify excessive risk and/or control issues at an early stage. Report process test findings to control management, (via the agreed Control Testing report template).
Support manager with planning and execution of the thematic reviews required to provide assurance to business leadership of control effectiveness surrounding internal processes, procedures, and client specific servicing deliverables.
Support Resolution planning exercise and Regulatory attestations
Ensure that current policies and procedures are in place for relative practice area(s). Confirm that procedures are in compliance with organizational standards and regulatory requirements. Assists in the communication and implementation of corporate policies within the business unit.
Communicate findings and enhancement recommendations (verbally and in writing) with control management.
Support key Control programs such as the Audit Remediation, Asset Servicing Losses mitigation, Asset Transfer Policy Standards, Resolution Planning, Regulatory attestations etc. Including the definition of the methodology, the execution of the programs, and to ensure the implementation and tracking of agreed actions.
Foster and promote Northern Trust’s commitment to a strong risk management culture by developing a control mindset within the business.
Knowledge
Professional with extensive Risk & Control experience, multi-disciplinary functional experience including regulatory assessments
Knowledge of the firm and industry
Ability to work with senior leadership and navigate complex discussions
Strong communication skills, verbal and written
Attention to detail
Experience
College or University degree is preferred.
10+ years of Risk & Control experience required.
Financial services experience.
Salary Range
$114,700 - 194,900 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.
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.
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About the Company
As a global leader in innovative wealth management, asset servicing and investment solutions, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity.
A globally recognized Fortune 500 Company in continuous operation since 1889, we’ve built a legacy of empowering clients to reach their goals with confidence.
Since our roots as a trust bank, we’ve grown to a global presence with more th...
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