Audit Specialist – Risk and Control Enhancement

Northern Trust; Chicago (IL); On-site; USD 114,700 - 194,900; Full time

Job summary

Northern Trust in the United States is seeking a senior risk and audit professional to lead audit validation work focused on operational risk and control transformation. You will partner with audit teams, business leaders, and senior stakeholders to interpret regulatory expectations and translate risk themes into practical audit insights.

The role demands 10+ years of risk management experience, strong communication, and a track record delivering high-quality audit coverage in a regulated

Qualifications

• 10+ years of extensive operational risk management experience, including knowledge of risk and control self-assessment and third-party risk practices.
• Proven experience applying audit, risk, or control principles within financial services or a similarly regulated environment.
• In-depth understanding of relevant regulatory expectations and how they inform audit coverage and control evaluation.
• Strong analytical, organizational, and problem-solving skills, with the ability to interpret complex information and develop practical recommendations.
• Excellent written and verbal communication skills, including the ability to present risk and control insights clearly to senior stakeholders.
• Relevant professional certification or advanced qualification, such as accounting, audit, information systems, risk, or business administration credentials.

Responsibilities

• Lead audit validation work focused on operational risk and control transformation.
• Partner with audit teams to plan, challenge, and deliver high-quality audit coverage.
• Interpret regulatory expectations, risk themes, and industry practices to guide control assessment.
• Analyze risk and control information to identify issues, insights, and practical improvements.
• Prepare clear reporting for senior leaders on audit observations and control effectiveness.
• Advise on testing approaches, issue development, and audit reporting quality.
• Coordinate with business and risk stakeholders to understand change activity and emerging risks.
• Support team capability through knowledge sharing, coaching, and participation in relevant forums.

Skills

Operational risk

Analytical skills

Communication

Regulatory knowledge

Risk assessment

Stakeholder communication

Education

Professional certification

Job description

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.

Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.

With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Audit Services provides independent assurance over how Northern Trust manages risk, strengthens controls, and supports responsible growth. This role will bring deep operational risk and audit expertise to help shape audit validation work connected to Northern Trust’s Risk and Control Enhancement transformation program. The successful candidate will work with audit teams, business leaders, and senior stakeholders to interpret risk themes, challenge control design and effectiveness, and translate complex operational risk topics into practical audit insights.

The key responsibilities of the role include:

• Lead audit validation work focused on operational risk and control transformation.
• Partner with audit teams to plan, challenge, and deliver high-quality audit coverage.
• Interpret regulatory expectations, risk themes, and industry practices to guide control assessment.
• Analyze risk and control information to identify issues, insights, and practical improvements.
• Prepare clear reporting for senior leaders on audit observations and control effectiveness.
• Advise on testing approaches, issue development, and audit reporting quality.
• Coordinate with business and risk stakeholders to understand change activity and emerging risks.
• Support team capability through knowledge sharing, coaching, and participation in relevant forums.

Skills / Qualifications:

• 10+ years of extensive operational risk management experience, including knowledge of risk and control self-assessment and third-party risk practices.
• Proven experience applying audit, risk, or control principles within financial services or a similarly regulated environment.
• In-depth understanding of relevant regulatory expectations and how they inform audit coverage and control evaluation.
• Strong analytical, organizational, and problem-solving skills, with the ability to interpret complex information and develop practical recommendations.
• Excellent written and verbal communication skills, including the ability to present risk and control insights clearly to senior stakeholders.
• Relevant professional certification or advanced qualification, such as accounting, audit, information systems, risk, or business administration credentials.

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.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment‑based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment‑based visa).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.

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