Head of Risk & Control - Asset Owner Segment, Americas

Chicago, Illinois, United States; Boston, Massachusetts, United States
26 May 2022
26 Jun 2022
Contract type
Full time
Experience level

About the Asset Owner Segment, Americas

This is a recently formed business segment within the Asset Servicing Division, responsible for roughly half of Northern Trust’s total global assets under custody, as well as newly formed innovative businesses such as Northern Trust Front Office Solutions. This segment focuses on mission-driven asset owners across the Americas, primarily endowments, foundations, corporations, pensions, multi-national entities, and insurance companies. The creation of this segment, which merges Northern Trust’s legacy business lines with its forward-looking products and capabilities, creates exciting and unique leadership opportunities to help us realize more optimal outcomes for our business, while working in close alignment with the other executives throughout the organization. This is an opportunity to transform how we serve our clients, partners, and stakeholders by leveraging the invaluable assets which exist within our people and our products, and applying forward looking, human-centered design thinking and innovation to help us collectively achieve greater.

Our vision: To be THE market-leading partner of choice in the asset owner segment through innovative products, unparalleled service, impeccable operational outcomes, and unyielding integrity and alignment to our clients.

We cannot do this without putting culture at the core. Our people, our behaviors, the decisions we make all influence the ability to achieve success. Diversity, Equity and Inclusion is paramount to establishing of an environment which fosters positive results and positive experiences.

The opportunity

In this exciting new role, the Head of Risk & Control, Asset Owner Segment, Americas plays and important role in preserving and enhancing the foundational strength of our control environment to ensure we minimize and/or mitigate risk where possible. As a senior risk & control executive, you hold a leadership role within the business and will align your responsibilities with other risk & control executives across the 1st and 2nd lines of defense. You will have a direct responsibility for aligning the operating model, driving clarity and collaboration, and utilizing technology to increase efficiency, as a key driver in executing upon the business strategy. Along with other senior executives, you will hold accountability for the operating effectiveness of the controls in a given practice area, business line, product, and/or region.

This position reports to the Asset Owner Segment, Americas COO.

Primary responsibilities

  • Work in partnership and close collaboration with the Asset Servicing COO organization, other control executives and the process owners to directly execute on key initiatives such as Risk & Control Self Assessments, Business Resiliency plans, Incident Response & Remediation
  • Proactively ensure we are executing business activities within Northern Trust's systematic control framework to reduce the opportunity for losses, errors, threats, and risks
  • Provide executive management and key stakeholders with reasonable assurances that the business activities undertaken are appropriately controlled
  • Lead the internal resiliency council for our leadership team, highlighting key operational risks & potential mitigation plans
  • Design the target operating model for the resiliency improvement program which includes establishing metrics that provide insight into aggregate and horizontal trends, themes, and risks
  • Direct the day-to-day focus of the embedded teams using a variety of risk identification, assessment, and control tools to spot control weaknesses/gaps and make continual process and control improvements in a documented, disciplined fashion
  • Work towards the development and execution of a comprehensive testing strategy enabled through data analytics and robotics
  • Manage the remediation review program to ensure gaps identified by other functions and stakeholders are appropriately addressed; Identify and remediate control gaps identified by the control teams
  • Oversee our involvement in the incident response process, including applying the lessons-learned horizontally, across the extended business unit
  • Liaise with auditors, regulators, and for internal and external regulatory & control meetings/reviews
  • Foster collegial relationships and manage senior stakeholder communications
  • Share key insights and learnings from participation in risk and business unit committees in a referenceable format
  • Provide proactive leadership to ensure that we seek to reduce any opportunity for losses, errors, threats, and risks that may negatively impact our business
  • Undertake assignments as requested by the business unit head
  • Guided by organization functional strategy, has broad impact on the functional, divisional or regional results and direction to managers. Decisions are guided by functional or major operational segment strategy and priorities

Preferred professional experiences & qualifications

  • Prior experience in properly interpreting and applying risk, control and regulatory guidance
  • Execution of defined activities such as BCP/DR planning, Risk & Control Self Assessments, Internal Audits, Regulatory and Incident Response
  • Highly motivated, energetic self-starter who takes ownership of issues and drives them to resolution
  • Good organizational skills; manages & prioritizes multiple tasks across different time horizons within deadlines
  • Cooperative, and collegial manner to be able to flex to wide range of stakeholders and in high-stakes situations
  • Strong decision-making skills to the extent control changes impact clients, and business process and ongoing operations
  • Solid understanding of controls and how to apply them to different processes and businesses
  • Strong analytical, problem solving & process re-engineering skill
  • Excellent project management skills: successfully led transformation-based programs and initiatives
  • Skills in translating broad strategic intent into tactical plans and directions are essential
  • Applies broad industry knowledge and commercial awareness to drive financial performance
  • Negotiates with senior leaders across the business
  • Operational and strategic management skills
  • Management responsibilities and decisions including hiring, performance reviews, pay decisions and development
  • Ability to manage by influence

Core competencies

  • Create Vision, Mission and Plan for helping the business successfully execute on its Go To Market strategy
  • Define & Shape the Culture through all actions and behaviors
  • Understand Leadership & Development
  • Communication & Strategic Messaging
  • Talent Management (Recruiting, assessing, selecting, and integrating human capital)
  • Create Alliances & Partnerships, both internal and external to Northern Trust
  • Measure, Learn & Refine for continuous improvement
  • Priority Setting & Time Management
  • Stress Management & Well-Being
  • Setting Goals
  • Meetings goals vs objectives
  • Critical Thinking – Demand Independent Thinkers
  • Being a Team Player
  • Team building and development
  • Counseling subordinates
  • Conducting effective meetings
  • Delegating
  • Risk analysis, risk mitigation and risk management

About Northern Trust

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With over 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 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!

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 2021:

  • Gender Equality Index Member, Bloomberg
  • Top Financial & Banking Company, Black EOE Journal, Hispanic Network Magazine, Professional WOMAN'S magazine

We’d love to learn more about how your interests and experience could be a fit with one of America’s best banks and most sustainable companies! Build your career with us and apply today.

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

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