Head of First Line of Defense Financial Risk

Northern Trust; London; On-site; GBP 200,000 +; Full time

Job summary

A globally recognized financial institution in London is seeking a Head of 1LOD Financial Risk. You will manage a team and oversee critical financial risk matters, including counterparty credit and stress testing. The ideal candidate has significant experience in financial risk and a proven track record of strategic thinking. Join a flexible and collaborative work culture dedicated to community service and career development.

Qualifications

• Proven track record in critical and strategic thinking.
• Several years' experience in financial risk management.
• Global management experience preferred.

Responsibilities

• Manage 1LOD Financial Risk for Asset Servicing.
• Lead in Financial Risk matters for Capital Markets.
• Provide oversight on credit risk regulatory interpretations.

Skills

Critical and strategic thinking

Experience in financial risk

Global management experience

Counterparty credit risk

Quantitative stress testing techniques

Product knowledge of securities financing

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.

About the role:

Responsible for managing the First Line of Defense (1LOD) Financial Risk considerations for the Asset Servicing (AS) Business Unit, with an initial focus on counterparty credit, stress testing, risk weighted assets (RWA) and other p/l and balance sheet related matters. The Head of 1LOD Financial Risk is responsible for managing a team of 5 Northern Trust partners based in London and Manila.

The key responsibilities of the role include;

• Leads 1LOD requirements in Financial Risk matters for the Asset Servicing Business Unit and the Capital Markets Business Segment in particular.
• Provides single point of contact for 2LOD for review/challenges, incidents, issues as well as input into limit setting and stress testing frameworks.
• Represents AS as 1LOD representative on key Credit Risk committees.
• Oversees 1LOD requirements for credit risk regulatory interpretation matters (e.g. RWA, SCCL) as well as production of quarterly RWA submissions.
• Develops and oversees execution of controls to ensure the integrity of NT’s books and records (balance sheet and p/l) in relation to Capital Market activity.
• Provides 1LOD Financial risk oversight for Capital Markets brokerage legal entities (NTSI, NTS LLP, NTSA).
• Manages and develops team as well as reviewing resource needs to meet current or future business objectives.

Skills/Experience:

The successful candidate will benefit from having;

• Proven track record of critical and strategic thinking
• Several years' experience in financial risk (1LOD or 2LOD)
• Global management experience
• Counterparty credit risk and quantitative stress testing techniques.
• Product knowledge of either securities financing or foreign exchange.
• Additional knowledge of agency brokerage is preferred.

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.

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 [e-mail].

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.

For further information, and to apply, please visit our website via the “Apply” button below.