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.
SUMMARY:
COO Business Unit Risk Management (BURM) is seeking a senior-level candidate with operational and risk experience in Custody, Fund Administration, and generally, the overall operations of a bank. BURM is a risk assurance and advisory function within the 2LOD Enterprise Risk Management Group; with individual BURM teams for each of NT's Business Units – COO, Asset Servicing, Asset Management, and Wealth Management. The COO Business Unit is the largest, by operational footprint, locations and the holds the majority of non-financial risk for the bank.
COO BURM have a designated role to review and challenge all material COO activity, as the COO BU manages its risks in line with the Enterprise Risk Management framework and more specifically the Risk Management Lifecycle, from risk identification, through risk assessment and risk monitoring and reporting. COO BURM has a significant focus on material change (e.g. new product, new system, new business, new regulation etc.), and material issues and incidents (e.g. errors/losses/breaches, outages).
The COO BURM are members of at all relevant Corporate Risk Committees, and the COO Business Risk Committee.
The team will be in multiple locations, aligned to the COO BU footprint and the BURM individuals will be assigned to specific COO functions e.g. Accounting and Fund Services, Market Operations, Omnium Services.
The role being recruited is to cover AFS – Transfer Agency and IOO globally.
KEY DUTIES:
Risk Advisor to the BU on their Risk Assessable Units (RAUs) and their adherence to the Enterprise Risk Management Framework and Risk Lifecycle. This covers BAU (production and service), and strategic development and growth.
Member of business meetings/support the risk components.
Review and challenge the risk identification/applicability for the RAUs (which will determine Top and Material Risks).
Review and challenge all ERM base risk assessments – e.g. principally the RCSA; also others - Fraud Risk, Data Privacy.
Review and challenge Resiliency – Value Chains, Impact Tolerances, Business Continuity and Stress Testing.
Review and challenge material Change Activity/Tier 1 and 2 defined change (e.g. New Product, New Business, New Vendor, System Development etc.). Fulfil membership obligations for Program Working Groups and Program Steering Cmtees.
Review and challenge Issues and their respective Risk Treatment.
Engagement with Business Strategy ensuring a strong awareness and understanding of growth, product development and client prospects.
Review and challenge 1LOD Risk Reporting/KRIs - universe and thresholds.
Support the COO Risk committee's charter and governance. Attend where necessary and also other Corp Risk committee's when requested.
Support Corporate Risk in their development of Risk frameworks and programs, and be an escalation for the Business and Corporate Risk owners if required.
Fulfil Legal Entity Chief Risk Officer responsibilities where relevant [for COO Legal Entities].
KNOWLEDGE/SKILLS:
Knowledge of Asset Servicing, Asset Management/Fund Services at a strategic and product/operational level.
Risk Advisory and Evaluation skills, being able to apply to broad range of issues, initiatives and scenarios.
Analytical and communication skills to all levels of an organization and in particular risk forums
Flexible and adaptable to change.
Technical skills – Communication/Presentation software/applications i.e. Microsoft suite.
EXPERIENCE:
A College or University degree and relevant proven work experience in Risk Management.
Relevant experience working in Fund Services, which may include: Fund Accounting, Transfer Agency, Investment Operations, Private Equity, Private Capital, and Financial Reporting.
Business and/or Operational experience in areas such as Asset Servicing, Fund Servicing, Asset Management, Trading.
Held risk advisory roles in change projects – new product, new business, business expansion.
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.
About Our Bangalore Office
The Northern Trust Bangalore office, established in 2005, is home to over 5,600 employees. In this stunning office, space, we offer fantastic amenities which include our Arrival Hub – Jungle, the GameZone, and the Employee Experience Zone that appeal to both clients and employees. Learn more.