Manager, BU Control
- Company: Northern Trust
- Location: Chicago, IL – United States
- Type: Permanent
- Salary: Competitive
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.
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.
Northern Trust (NT) Wealth Management (WM) is seeking a highly skilled and experienced Control Strategy Manager to join the Office of the COO. As Control Strategy Manager, you will play a critical role in measuring and monitoring risk levels within the business unit and overseeing alignment with our established risk appetite. You will be responsible for working with 2LOD Risk functions and business partners to identify and assess potential risks, developing risk management metrics and dashboards to measure those risks, and aiding our business partners in implementing robust risk mitigation measures to protect WM’s stability and reputation.
The key responsibilities of the role include:
- Risk Measurement and Assessment: Conduct comprehensive risk assessments across WM processes to identify potential risks and evaluate their potential impact on NT’s objectives.
- Execution of Risk Appetite Framework: Collaborate with 2LOD Risk functions and senior leadership to establish and maintain an effective risk appetite framework, ensuring it aligns with enterprise strategic objectives and regulatory requirements.
- Risk Monitoring and Reporting: Continuously monitor and track risk exposures, overseeing whether risk levels remain within established tolerance. Develop sustainable and repeatable metrics and dashboards for senior leadership, highlighting key risk trends, emerging risks, and recommended actions. Ensure out of tolerance items are aligned with Risk Treatment requirements.
- Risk Mitigation Strategies: Work with 2LOD and senior leadership to develop and implement robust risk mitigation strategies and action plans to minimize potential adverse impacts on WM and enterprise performance and reputation. Coordinate with relevant stakeholders to ensure timely implementation and effectiveness of controls.
- Compliance and Regulatory Requirements: Stay updated on relevant laws, regulations, and industry best practices related to risk management in the financial services industry. Ensure enterprise risk management practices align with applicable legal and regulatory requirements.
- Risk Education and Training: Foster a risk-aware culture within the business unit by designing and delivering training programs on risk management principles, policies, and procedures. Educate partners on their roles and responsibilities in managing risks effectively.
- Stakeholder Collaboration: Collaborate with internal stakeholders, including Wealth Management Practice Leaders, Legal, Risk, Compliance, Finance, Audit, and other BU Control teams to identify and address risks and ensure a coordinate approach to risk management. Liaise with external stakeholders, such as regulators and auditors, as required.
The successful candidate will benefit from having:
- Bachelor’s degree in finance, risk management, business administration, or related field. Advanced degree or professional certification (e.g. FRM, PRM, CFA) in risk management or a related discipline is a plus.
- Experience: A minimum of 10 years of experience in enterprise risk management or similar function within the financial services industry.
- Proven experience in measuring and monitoring risk against an established risk appetite framework is essential.
- Analytical Skills: Strong quantitative and qualitative analytical skills to assess risk exposures, identify trends, and make data-driven decisions. Proficiency in risk assessment tools, statistical analysis, and data visualization techniques.
- Communication and Influencing: Excellent written and verbal communication skills to effectively convey complex risk concepts and recommendations to stakeholders at all levels. Ability to build relationships and influence decision-making processes collaboratively.
- Problem Solving and Decision Making: Strong critical thinking and problem-solving abilities to identify and evaluate risks, develop risk mitigation strategies, and make informed decisions under uncertainty.
- Attention to Detail: Meticulous attention to detail in analyzing risk data, identifying potential gaps or vulnerabilities, and ensuring accuracy in reporting.
- Adaptability and Resilience: Ability to thrive in a dynamic and fast-paced environment, managing multiple priorities and deadlines effectively. Resilience in dealing with challenging situations and the ability to adapt to changing risk landscapes.
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 and apply today. #MadeForGreater
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 MyHRHelp@ntrs.com .
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.