Central Bank Governance Specialist

Northern Trust; Tempe (AZ); Hybrid; USD 137,000 - 240,000; Full time

Benefits offered by this job

401k and pension

Health and welfare benefits

Paid time off

Parental and caregiver leave

Life and accidental insurance

Discretionary bonus program

Job summary

Northern Trust in the United States is seeking a Specialist to join our Central Bank Governance group as an individual contributor. The role provides leadership on payment scheme rules, risk controls, and regulatory compliance across schemes such as ACH, CHIPS, FedLine, and CHAPS.

You will work in a hybrid model, balancing office and home-based work, and collaborate with Control, Regulatory Oversight, Risk, Compliance and Audit teams to strengthen processes and evidence the scheme requirements.

Qualifications

• Experience with payment scheme rules and controls.
• Strong analytical thinking and attention to detail.
• Ability to manage multiple priorities and meet deadlines.
• Data-driven approach to measuring performance and risk.
• Excellent written and verbal communication.
• Stakeholder management across geographies.
• Knowledge of ACH, CHIPS, Fed systems, and other schemes.
• Self-starter who works independently in fast-paced environments.
• Progress towards relevant industry qualifications.

Responsibilities

• Oversight of adherence to payment scheme rulebooks and access requirements.
• Serve as subject matter expert on payment scheme rules.
• Implement new/updated scheme rules into processes.
• Ensure procedures demonstrate scheme requirements with evidence.
• Maintain robust controls and drive improvement.
• Participate in central bank working groups and audits.
• Review incident reports to determine root causes.
• Build relationships with stakeholders across controls, risk, compliance and audit.
• Facilitate payment scheme audits and regulatory examinations.

Skills

Payment scheme experience

Critical thinking

Attention to detail

Data-driven mindset

Clear communication

Stakeholder management

Global payment schemes

Independent/self-starter

AI fluency

Tools

SharePoint

Teams

OneDrive

Excel

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.

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:

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.

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.

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).

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.