Operational Risk & Controls Manager

Melbourne, Victoria, Australia
27 May 2022
10 Jun 2022
Contract type
Full time
Experience level

Who we are

Northern Trust is a preeminent global financial institution that provides asset servicing, investment management and wealth management services for institutions, high-net-worth individuals and families. For more than 130 years, our success has been anchored in one purpose: to serve as our clients’ most trusted financial partner, guarding and growing their assets as though they are our own. Our market-leading technological capabilities—spanning from artificial intelligence for currency management, blockchain for fund administration and cloud-based solutions to deliver personalized wealth management services—allow us to deliver the highest level of service to our clients with speed and precision.

What we do

Northern Trust’s international business has grown dramatically over the last decade. Some of our largest clients are located in Asia and Australia, which represents a rapidly growing client base for the company. Our intricate understanding of the region allows us to provide unique insights and strategic perspectives to our clients. Currently, we have client offices in Beijing, Hong Kong, Melbourne, Singapore, Seoul, Tokyo and Kuala Lumpur.

Northern Trust is proud to serve the Australian community with global capabilities, meaningful insights and exceptional service. Institutional clients across Asia Pacific have relied on Northern Trust for effective solutions and ethical guidance across asset servicing and asset management since 1986.

Role Summary

Reporting into the Head of Non-Financial Risk, you will join a team of experienced risk managers, working collaboratively with the business and second lines both in Australia and offshore to deliver operational risk programs/activities and provide effective second line risk oversight over Northern Trust’s Australia Branch operations.

You will be responsible for supporting the operational risk programs across Northern Trust’s Australia Branch including developing and implementing line 2 control testing program for the Australian business. Using a proactive, collaborative and consultative approach, you will work closely with Northern Trust partners across the globe to offer technical advice, interpretation, objective challenge, and training on corporate operational policies, and business unit procedures.

What you will do

  • Manage and execute operational risk programs across incident management, business continuity, privacy, fraud and outsourcing/vendor management etc to support first lines including review and uplift the operational risk frameworks, policies and procedures
  • Develop, implement and continuously improve a risk monitoring and control assessment program in concert with the corporate programs to identify and drive process improvements
  • Provide SME advice and effective second line review and challenge across the Australian business on operational risk mitigation strategies and controls
  • Contribute to preparation and presentation of risk reporting to relevant governance/business forums
  • Enhance risk reporting with focus on value add to drive appropriate risk management practices
  • Manage the delivery of non-financial risk initiatives as and when required
  • Assist in internal and external reviews including audits, regulatory requests and reviews
  • Assists in advising business partners, including senior management, on the risk assessments and controls testing matters including keeping them informed of developments or changes that may affect their area
  • Provide oversight and challenge over risk and control assessment including the adequacy of control testing plans and control remediation plans
  • Provide ongoing communication, training and capability uplift to the business and enabling functions
  • Update and maintain risk assessment and controls testing processes and procedures
  • Perform regular testing on the controls’ efficiency, adequacy and effectiveness and work with the business/first lines to continually improve control environment
  • Contribution to the team:
  • Assists management to work towards the Company’s strategic goals.
  • Review work of others
  • Project lead work
  • Interacts with business partners, regulators, and internal and external auditors on regulatory topics.

Your Knowledge/Skills

  • Qualification in Business, Commerce, Law, Finance or related field
  • Proven experience in risk management within Australia’s financial services / APRA-regulated entities
  • Strong understanding of Australia’s financial services regulatory landscape including working knowledge of APRA requirements and of key banking regulators
  • Strong working knowledge and experience in controls testing in a medium to large organisation within a complex environment
  • Exposure to risk, compliance and governance and a clear appreciation of internal controls/governance and oversight across all 3 lines of defence
  • Practical experience in implementing operational risk management framework, system and tools
  • Strong analytical and critical thinking skills to analyse business processes and risks and identify control/process improvements
  • Ability to build relationships and communicate with influence at executive and senior level
  • Report writing and presentation to a wide range of stakeholders including an executive or committee level audience
  • Ability to operate independently, multi-task and manage competing priorities in a fast-paced environment
  • Understanding and managing regulatory change in a commercial and pragmatic way
  • Collaborate and maintain positive partnerships with business partners while at the same time remaining objective, with an ability to make an independent assessment of the risk environment and business challenges, and work toward practical risk mitigation actions

Highly desirable (not mandatory):

  • Preferably CA or CPA qualified
  • Exposure to first line/second line/operational roles in Asset Servicing /Fund Administration/Capital Markets/Cash Payments operations are highly regarded

As of 31 March 2022, Northern Trust Corporation had:

  • $15.5 trillion in assets under custody/administration
  • $12.0 trillion in assets under custody
  • $1.5 trillion in assets under management
  • $173 billion in banking assets

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, 2021 (4th consecutive year)
  • Top ranking of 100% on the Human Rights Campaign Foundation’s, Corporate Equality Index, 2021 (For the 14th 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 charity participation 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!

  • Want to learn more about our company? Visit www.northerntrust.com
  • We are a leading global financial institution- Click here to check out our company accolades!

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

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