Risk Event & Issue Management Specialist, BU Control

About Northern Trust

Northern Trust (Nasdaq: NTRS) is a global leader in innovative wealth management, asset servicing, asset management, and banking services. Founded in 1889, the company is guided by three Principles That Endure: Service, Expertise, and Integrity. These principles are reflected in the firm's commitment to its employees, whom it calls partners, and to the clients and communities it serves worldwide.

Role Summary

Northern Trust Asset Management (NTAM) is entrusted with helping investors achieve their long-term objectives through investment management. The Issue Management and Risk Event Specialist, Asset Management Global Control, plays a crucial role in overseeing and managing risk events and issues within the Asset Management business unit.

Primary Responsibilities

• Provide guidance and oversight to first line business units to ensure adherence with the firm’s non-financial risk programs.
• Advise on risk event matters and collaborate with business contacts and management to implement effective solutions.
• Leverage stakeholder management skills to resolve complex operational errors and facilitate the resolution process.
• Conduct independent risk event investigations and analyze lessons learned, documenting findings according to risk management standards.
• Identify control weaknesses, suggest remediation activities, and assist in addressing gaps and enhancing plans, strategies, and processes.
• Support reporting on risk events, themes, and management actions.
• Maintain a thorough understanding of the Risk Management Lifecycle and the tools/systems supporting it.
• Act as a subject matter expert to Control Owners and Issue Owners on the Risk Management Lifecycle.
• Document root cause analysis, impact analysis, severity ratings, and remediation actions for issues.
• Monitor the status of remediation actions and provide periodic updates to stakeholders.

Necessary Knowledge, Skills And Experience

• 7+ years of experience in risk, control, audit, or related functions at a large financial institution, preferably with Asset or Wealth Management domain knowledge.
• Outstanding communication and influencing skills, both written and verbal, with the ability to challenge stakeholders and present materials effectively.
• Outstanding attention to detail and problem-solving skills, with the ability to adapt to change and shifting business profiles.
• Demonstrated collaboration within and across global project teams, functional areas, business units, and all lines of defense.
• Proficiency in Microsoft Office, particularly Excel for data analysis, and experience with MS Co-Pilot for efficiency.
• Strong situational awareness and decision-making capabilities.
• Excellent prioritization skills and comfort with ambiguity.
• Comprehensive understanding of risk management and asset management practices.
• Strong grasp of regulatory, compliance, and legal environments within the Asset Management industry.

Salary Range

$114,700 - 194,900 USD

The salary range is a good faith estimate of base pay. Northern Trust offers a comprehensive benefits package including retirement benefits, health and welfare benefits, paid time off, parental and caregiver leave, life & accident insurance, and various voluntary and well-being benefits. The company also provides a discretionary bonus program with an equity component.

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture with a strong history of financial strength and stability. Movement within the organization is encouraged, and senior leaders are accessible. You can take pride in working for a company committed to an inclusive workplace and assisting the communities it serves.

Philanthropy

Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of its culture. Employees contribute their time and talents to work for the greater good of their communities.