Regulatory Risk Oversight Specialist
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.
Role Summary
The Regulatory Risk & Oversight Specialist supports the business with implementation of regulatory change and regulatory frameworks, in alignment with corporate standards and Asset Servicing Regulatory Risk & Oversight Office.
Reporting to the Head of Business Enablement, the role will oversee the implementation of compliance policies and frameworks and coordinate reviews of Compliance policies and frameworks for First Line of Defense (1LOD) .
Working closely with the Business Partner Financial Regulatory Reporting, Financial Crime Partner, local Outsourcing Manager and the Asset Servicing Control team, this role will be responsible for setting standards and oversee compliance with breach management reporting regulations and policies. Additional responsibilities include supporting Compliance testing planning and support any regulatory remediation planning oversight.
What you will do:
- Implements compliance policies and frameworks through understanding and adhering to NT’s strategy, values and risk appetite
- Supports the business to understand and demonstrate the compliance skills required to effectively execute their roles through delivery of training and/or coaching
- 1LODOwnership of Regulatory Change Oversight
- Provides input as part of annual reviews of policies and frameworks
- Provides advice and support to the business as and when regulatory change occurs, including coordinating and conducting impact assessments on the businesses’ risk profile
- Liaises with the business and Second Line of Defense (2LOD) Compliance to ensure obligations for key regulatory changes are documented, assigned a 1LOD Risk Owner and mapped to controls
- Reviews regulatory incidents and issues for completeness and accuracy
- Liaises with Global Compliance Testing (GCT) for periodic controls testing
- Supports Risk Owners with development of remediation plans to address regulatory gaps and weaknesses identified
- Engages Compliance for guidance and/ or support where appropriate, for escalations of significant risks or control failures
- Engages and influences the teams within TNTC to drive a strong risk management culture
- Contribution to the team:
- Interacts with business partners, regulators, and internal and external auditors on regulatory topics.
- Assists management to work towards the Company’s strategic goals.
About You
- 10-15 (or more) years of experience, preferably in Asset Servicing, Control, Compliance or risk management; or equivalent related experience.
- Knowledge of risk management and the Company’s strategic goals.
- In-depth knowledge of regulations and local laws acquired through formal education and work experience is required.
- Communication and analytical skills are necessary to consult with partners/clients, and analyze information and apply regulations
- Experience in stakeholder management or a proven ability to influence stakeholders
- Experience in leading/facilitating cross-functional committee meetings
- Ability to manage small to medium sized teams and proven leadership experience
Good to have skills (additional) :
- Strong working knowledge of regulatory updates for the Wealth Industry, with a focus on ASIC and APRA
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 recognize the value of inclusion and diversity in culture, in thought, and in experience. Which is why we are honored to receive the following awards in 2022:
- Gender Equality Index Member, Bloomberg, 2022 (5th consecutive year)
- Top ranking of 100% on the Human Rights Campaign Foundation’s, Corporate Equality Index, 2022 (For the 15th consecutive year, Northern Trust has scored 100% and earned the designation as a “Best Place to Work for LGBTQ Equality”)
In Australia, we are actively involved in many ways with both community and diversity organisations, which includes paid volunteer days. For families, we offer a very generous parental leave scheme, and all staff have access to subsidised health insurance if they choose.
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 ethical companies. Build your career with us and apply today! #MadeForGreater
- Want to learn more about our company? Visit northerntrust.com
- We are a leading global financial institution - Click here to check out our company accolades!
