Senior Compliance Manager

Northern Trust; New York (NY); On-site; USD 95,000 - 200,000; Full time

Job summary

Northern Trust seeks a Compliance Professional to oversee compliance for its asset management division. The ideal candidate will engage with regulators, ensure adherence to laws, and foster a culture of compliance. A strong background in financial laws and effective communication is essential, along with a degree in finance or law.

Benefits

401k and pension benefits

Medical, dental, and vision coverage

Paid time off and parental leave

Life and accident insurance

Discretionary bonus program

Qualifications

• 7+ years as a compliance professional with focus on Investment Company Act.
• Ability to interact with regulators and auditors.
• Experience with ETF products is beneficial.

Responsibilities

• Provide compliance oversight for affiliated service providers.
• Assist with quarterly board reporting and annual compliance reports.
• Identify and manage conflicts of interest.

Skills

Analytical skills

Communication skills

Leadership skills

Education

Bachelor’s degree

Advanced degree or JD

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.

Northern Trust Asset Management
Northern Trust is one of the world’s largest asset management firms with approximately $1.3 trillion in assets under management across a range of investment strategies. Thoughtful investors worldwide are making Northern Trust their asset manager of choice because they develop the answers clients need for today’s challenging world. They have a level of client dedication and collaboration clients can’t find anywhere else and are anchored by renowned integrity and stability. Their investment process combines exhaustive research and vigilant risk management to provide a solid foundation for investing, and they also have an integrated technology platform and processing infrastructure that work around the clock and around the globe.

The successful candidate will report to the Chief Compliance Officer of the Northern / Northern Institutional Funds (together, the “Funds”), which consist of 45+ registered open-end funds with approximately $225B+ in AUM. The person in this role will work closely with Funds’ Board and Northern Trust partners in the business unit and risk management, as well as internal and external counsel, to proactively administer and maintain a comprehensive compliance program. This position is part of Northern Trust’s Asset Management (“NTAM”) Compliance team, led by the Head of Compliance for Asset Management.

Location for this role will be in New York, NY, Stamford, CT or Chicago, IL

The key responsibilities of the role include:

• Provide compliance oversight and monitoring over key affiliated and unaffiliated service providers to the Northern Funds, including sub-advisers, and their compliance policies and procedures.
• Assist with quarterly board reporting and the annual 38a-1 reports.
• Support the CCO with the oversight and administration of the various components of the adviser compliance program e.g. testing, monitoring, surveillance, policies and procedures, incident reporting, control documentation.
• Identify and monitor conflicts of interest.
• Support the CCO in with the SEC on regulatory matters affecting the Northern Funds.
• Administer a program of supervision of all sub-advisory entities, including client reporting, board reporting, 15c reporting, client due diligence meetings
• Effectively work with internal business unit, risk management, and legal functions, as well as the Funds’ Board and outside counsel, to administer and maintain a comprehensive compliance program, provide advice and problem solve regarding applicable laws, regulations, rules, and standards, including informing them of developments or changes that may affect their area and working with them to implement effective compliance programs.
• Promote a positive compliance culture through communication and oversight of regulatory responsibilities at all levels and developing strong working relationships with the business.
• Manage team members focused on the Northern Funds compliance program and the manager oversight program for the OCIO business.

The successful candidate will benefit from having:

• Extensive knowledge of Investment Advisers Act of 1940, Investment Company Act of 1940, ERISA, FINRA rules, and CFTC/NFA rules.
• Experience with working with ETF products
• Ability to effectively present to the Northern Funds Board and Northern Trust executive officers within Asset Management and earn their respect and trust.
• Experience interacting with regulators and auditors and leading regulatory exams.
• Analytical and communication skills required to review laws/regulations, assess their impact, and work with affiliated and unaffiliated service providers to monitor, review, and/or implement any necessary policies, procedures, processes, and controls.
• Must be a self-starter, able to work both independently and as part of a team.
• Exceptional written, verbal, and interpersonal communication skills.
• Strong leadership and organizational skills, commitment to change and to teaching the next generation of leaders in compliance.
• Bachelor’s degree required; advanced degree or JD preferred.
• Experience working at a regulator a plus.
• 7 + years as a compliance professional, ideally at least 5 years supporting products that are regulated by the Investment Company Act.
• Highest level of integrity.

Salary Range:

$95,600 to $200,000

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.

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 andapply 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 [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.