Central Bank Governance Specialist

Northern Trust Corp; Chicago, Northern (IL, KY); Hybrid; USD 137,000 - 240,000; Full time

Job summary

Northern Trust is seeking a Central Bank Governance Specialist in Chicago for a hybrid role. You will oversee payment scheme adherence, advise on regulatory requirements, and lead controls to mitigate risk across schemes like ACH, CHIPS, and FedLine.

The role requires strong analytical skills, stakeholder collaboration, and experience in financial services governance. The successful candidate will partner with Control, Risk, Compliance, Audit, and Operations to ensure robust governance and

Qualifications

• Experience with payment schemes (ACH/CHIPS/ FedLine).
• Strong attention to detail and risk awareness.
• Ability to translate complex rules into processes.

Responsibilities

• Oversee adherence to scheme rules and access requirements.
• Serve as subject area expert on payment scheme rules.
• Implement updated rules into procedures and evidence records.
• Maintain controls to prevent and detect issues; drive improvements.
• Facilitate audits and regulatory examinations as needed.

Skills

Payment scheme knowledge

Regulatory & compliance

Data analysis

Stakeholder management

MS Excel & MS 365

AI Copilot usage

Tools

Microsoft 365 Copilot

Excel

SharePoint

Teams

Job description

## Central Bank Governance SpecialistApply: Chicago, IL: Tempe, AZ: Full time: Posted Today: R161639**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. We are recruiting for a Specialist to join our global Central Bank Governance group as in individual contributor. The group performs oversight of Northern Trust’s central bank payment scheme memberships ensuring scheme rules and requirements are adhered to on an ongoing basis, including annual scheme membership assurance. As a payment scheme expert, the successful candidate, provides proactive leadership and guidance to strengthen controls, ensure compliance and mitigate operational risk. This individual provides operational strategies to minimize risk and assure compliance with relevant legislation and obligations. In addition, they will provide consultation and advice to partners regarding controls and regulatory considerations.**Working Model:** HybridWe 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. **Major Duties*** Oversight of Northern Trust’s adherence to applicable payment scheme rulebooks and access requirements, including the Nacha Operating Rules (ACH), The Clearing House CHIPS Rules and Administrative Procedures (CHIPS), Federal Reserve Operating Circulars applicable to Fedwire/FedACH, and FedLine Solutions security requirements, and other schemes as required.* Serving as a subject area expert on payment scheme rules.* Ensure amended and new scheme rules & regulations are implemented into our processes and procedures in a timely manner, including the mapping and updating of regulatory rules.* Ensure that procedures are in place (and are being followed) to demonstrate & evidence payment scheme requirements.* Ensure robust preventative and detective controls are in place, well designed and operating effectively for business functions and drive recommendations to strengthen control.* Participating in and sharing lessons from the central bank working groups* Contribute to review of incident reports to ensure true root cause and payment scheme impacts are understood, actioned and resolved.* Build and maintain relationships with different stakeholders including Control, Resiliency Office, Regulatory Oversight, Risk, Compliance and Audit,* Act in capacity of facilitator for payment scheme audits and regulatory examinations where applicable.* Ability to manage and work with various MI and data sets; ensuring timely completion of MI and other ad-hoc reports as required.* #LI-GG1* #LI-Hybrid**The ideal candidate should have a fair amount of the following skills:*** Payment scheme, operations or risk management experience, ideally from a bank / investment bank / custody bank background.* Strong critical thinking and attention to detail, with the ability to ‘go deep’ to understand processes, controls, and regulatory / scheme requirements.* Ability to systematically assess and challenge existing processes whilst managing multiple priorities and delivering to deadlines.* Data-driven mindset - uses MI and data to measure performance, manage risk, and prioritize actions* Strong Microsoft 365 digital fluency, including SharePoint and collaboration practices (e.g., maintaining control artefacts, checklists, and evidence repositories), plus Teams/OneDrive and Excel-based MI.* Demonstrated AI fluency and applied use of Microsoft 365 Copilot, including experience building lightweight agents/automations (e.g., via Copilot agent capabilities / Copilot Studio or similar) to improve productivity, insight generation, and reporting outcomes.* Clear, confident communicator - able to listen, interpret, and convey complex topics with impact (verbal and written) to varied audiences.* Collaborative partner with strong stakeholder-management skills, able to work across business units and geographies and build effective relationships internally and externally (as appropriate).* Knowledge of global payment scheme obligations, e.g., ACH, CHIPS, Federal Reserve services, CHAPS, RITS, T2, SEPA, etc.* Self-starter able to operate independently in a fast-paced, dynamic and demanding environment.* Relevant industry qualifications (or progress towards them) are a bonus. Salary Range:$137,400 - 240,400 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).