Specialist , BU Control

The Northern Trust Company; Chicago (IL); On-site; USD 90,000 - 140,000; Full time

Job summary

The Northern Trust Company is seeking a Specialist, BU Control to partner with business and Practice Managers to implement control best practices, mitigate risks and enhance controls. You will perform risk-based reviews, manage remediation, and analyze incidents to prevent recurrence.

Ideal candidates bring banking or regulated industry experience in risk, control, governance, audit, and compliance, plus strong communication and stakeholder management skills and proficiency with MS 365 apps,

Qualifications

• Experience in banking or regulated environments with risk/control focus.
• Experience with Governance, Risk and Compliance (GRC) tools, preferred.
• Delivery-focused mindset from project and/or program management.
• Strong written and verbal communication to senior management and executives.
• Ability to engage diverse stakeholders and build relationships.
• Think strategically and execute in a fast-paced environment.
• Proficiency with Microsoft 365 apps and SharePoint.

Responsibilities

• Contribute to periodic risk reviews of processes, procedures, and client deliverables.
• Review/test the practice area processes, controls and operating practices; prepare recommendations to strengthen weaknesses.
• Participate in control project deliverables to implement enhanced controls and efficiency enhancements.
• Facilitate control program governance, metrics and reporting requirements for COO / Corporate Functions.
• Conduct periodic review of policies and standards to ensure procedures, mitigate risk and meet regulatory requirements.
• Escalate risk and control matters to the practice control manager and stakeholders.
• Evaluate incidents and operational losses to identify trends and corrective actions.
• Participate in the RCSA program for specific business units and provide evidence of control reviews.
• Assist with operational and/or corporate risk initiatives as directed.
• Act as a designated issue manager within the remediation program and a control lead within the loss event program.

Skills

Risk management

Governance

Audit

Compliance

Testing

GRC tools

Project management

Communication skills

Stakeholder management

Microsoft 365

Power BI

SharePoint

Education

Bachelor's degree in business admin

Tools

Microsoft 365

Outlook

Excel

PowerPoint

Visio

Power BI

SharePoint

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.

As part of the First Line of Defense, COO BU Control team provides oversight and governance of the COO and Corporate Function controls to ensure resiliency and mitigate current and emerging risks.

This role interacts with COO / Corporate Function teams globally, including a diverse business stakeholder group, through:

• Control Framework and Assurance
• Collaboration with Second and Third Lines of Defense
• Program governance, Metrics and Reporting
• Supporting strategic change initiatives and projects

The Specialist, BU Control is responsible for working with the business and Practice Managers to execute control best practices and advise on risk mitigations and control enhancements. Regular activities to be defined and executed by the Specialist, BU Control include risk-based control reviews, management and review of issues in remediation and in-depth analysis of incidents to identify key trends and solutions to prevent future reoccurrence.

This role offers the candidate an opportunity to grow and develop their risk and control skills and COO / Corporate Function Business Unit knowledge while also enhancing their internal network through the broad reach of stakeholder engagement at various seniority levels.

Major Duties :

• Contribute to the periodic risk reviews of operational processes, procedures, and client-specific servicing deliverables.
• Review/test the practice area processes, controls and operating practices through ad hoc reviews and remediation efforts. Prepare recommendations to strengthen control weaknesses.
• Participate with control project deliverables, as assigned, to implement enhanced controls and efficiency enhancements.
• Facilitate control program governance, metrics and reporting requirements for COO / Corporate Functions, as required and requested.
• Conduct periodic review of practice specific policies and standards to ensure adequate procedures are in place and follow organizational standards, mitigate risk and meet known regulatory requirements.
• Escalate risk and control related matters to the practice control manager and relevant stakeholders.
• Evaluate incidents and operational losses and perform thorough analysis to identify trends, root cause and corrective actions.
• Participate in the RCSA (Risk & Control Self-Assessment) program for specific business units, ensuring risks and controls are appropriately identified and assessed and providing evidence of control review and challenge.
• Assist with operational and/or corporate risk initiatives where directed.
• As a designated issue Manager within the Issue Remediation Program, work with Business Units to review the management actions and corresponding artifacts which are required to mitigate the risks identified by issue identifying groups.
• As a designated Control Lead within the Operational Loss Event Program, work with Business Units to ensure adherence to the program.
• Other duties as assigned

Knowledge, Skills & Experience Required

• Relevant experience/expertise in banking or similar regulated organization, specializing in risk/control roles such as those in risk management, control, governance, audit, compliance or testing.
• Experience with Governance, Riska and Compliance (GRC) tools, preferred.
• Delivery-focused mindset gained through project and/or program management experience.
• Critical thinker with strong organizational and problem-solving abilities who is able to organize and manage people and resources to effectively prioritize issues and respond to senior management and key stakeholders.
• Ability to problem solve and engage with stakeholders with minimal oversight and direction.
• Strong communication written/oral skills, ability to communicate complex topics in a simple and concise manner to senior management and practice executives.
• Ability to engage a diverse set of stakeholders, build long-term relationships, and create a collaborative and approachable environment.
• Ability to think strategically, execute with precision and prioritize in a fast-paced environment.
• Ability to work independently, as well as collaborate with others.
• Experience of using Microsoft 365 Packages, (Outlook, Excel, PowerPoint, Visio, Power BI) and SharePoint.
• Bachelor's degree in business admin