Depositary Specialist – Audit Services

About Northern Trust:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

As a Northern Trust employee (Partner), you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve.

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you would benefit from adjustments for any part of the employment process, please inform the recruiter to discuss your individual requirements.

We strive to have a globally diverse workforce where engagement and inclusion drive business excellence. We believe in the power of collaborative partnerships and are proud to work with a number of organisations across EMEA who provide us with ongoing knowledge, education and insights to support our efforts. 

We monitor our progress by participating in market benchmarks which assess industry best practice and are delighted to have received a Silver Award from the Mind Workplace Wellbeing Index over two consecutive years, and a Gold Award from the UK Ministry of Defence Employer Recognition Scheme.

Role/ Department:

This professional will join the Corporate & Institutional Services, Global Services & International team within the Audit Services Group (Internal Audit) with responsibility for developing and executing a plan of audit engagements in the field of Depositary Services. 

Depositary Services include those activities that support the provision of the Depositary service to clients in line with Alternative Investment Fund Managers Directive (AIFMD) and Undertakings Collective Investment in Transferable Securities (UCITS) V requirements for C&IS and Wealth Management clients.  Northern Trust Depositary Services activities are located in Ireland, Guernsey, UK, Luxembourg, Norway, the Netherlands, and Switzerland, supported by the Depositary Operations Hub in Limerick, and by Bangalore.  

Based in one of the primary Depositary locations (London, Ireland, Luxembourg) the person will be responsible for the planning and delivery of Depositary audits on a global basis, necessitating close co-operation with other Internal Audit team members in EMEA and in Northern Trust’s Chicago headquarters. The successful applicant will benefit from having high levels of knowledge of Depositary regulation. Given its international remit the ability to apply this expertise both on a cross-border and cross-legal entity basis is essential to the role.

The role is a direct report to an Audit Senior Manager and is responsible for assisting in the recruitment, retention and development process for the internal audit team, as well as facilitating the development of  the understanding and knowledge of the audit team members through coaching and mentoring.

The key responsibilities of the role include:

• Lead the design of audit coverage for all aspects of Depositary Services risk management on a global basis
• Working with audit teams across the world, responsible to execute and co-ordinate Depositary Services audits from initial planning, to conducting fieldwork and through to finalization of draft audit reports
• Communicate audit findings to business units, support and internal control functions, and Senior Management
• Keep abreast of updates to Depositary regulation and provide guidance on the impact of those changes to audit planning and coverage
• Provide insights on risk themes identified for inclusion in Board and Committee reporting, both at corporate and legal entity levels
• Guide and coach other audit team members increase knowledge and awareness of Depositary risk concepts

Working with data analytics specialists to identify opportunities in data analytics in audit assignments

Skills/ Qualifications:

The successful candidate will benefit from having: 

• In depth knowledge of global regulations applicable to the field of Depositary Services, including AIFMD, UCITS, and relevant country-specific regulations issued by the Commission de Surveillance du Secteur Financier (CSSF), the Financial Conduct Authority, the Central Bank of Ireland and the Guernsey Financial Services Commission 
• While previous internal audit or risk management experience is desirable for the role, full training on auditing principles and techniques can be provided to a candidate presenting with detailed knowledge of Depositary regulations 

Working with Us:For further information, and to apply, please visit our website via the “Apply” button below.

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. In return, we will support you with your personal and career goals in a number of ways:

Financial – Life Assurance, Disability Plan, Pension/ Gratuity, Annual Pay Review

Work Life Balance – Flexible Work Options, Incremental Annual Leave, Community Volunteer Days

Health & Wellbeing – Private Medical Insurance, Active Sports & Social clubs (lunchtime and after-work groups), Employee Assistance Program

Professional Development – Clear Career Path, Education Assistance, Recognition Programme, NT University (wide range of online, virtual & in-house training options) and employee-led Business Resource Councils dedicated to diversity and inclusion initiatives.

And Finally 

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.

For further information, and to apply, please visit our website via the “Apply” button below.