Financial Risk Manager
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.
The Financial Risk Manager will be part of the second line risk management team, supporting the Head of Financial Risk in the development and embedding of financial risk frameworks and policies across Liquidity risk, Credit and Counterparty Risk, Market Risk, and Investment Risk.
You will work collaboratively with risk SMEs locally and offshore to provide high quality advice and ongoing support and challenge to the business whilst ensuring alignment with the global frameworks and compliance with local regulatory requirements.
What you will do
- Provides independent oversight, advice and challenge to the Line 1 on different financial risk categories
- Advises business partners, including executive and senior management, on financial risk programs and applicable laws, regulations, rules, and standards, including keeping them informed of developments or changes that may affect their area
- Monitors market, regulatory, macro-economic and political developments, assess their impact on credit quality of counterparties
- Monitors the liquidity risk profile of the branch, including the LCR and stress testing results, and escalate issues as necessary
- Provides input, advice and challenge into corporate led initiatives relating to liquidity stress testing and contingency funding plan testing
- Reviews applicable regulatory returns (eg ARF 210)
- Interprets and updates relevant assumptions and treatments, including regulatory interpretation on relevant APRA/ASIC regulations and industry standards
- Liaises with Risk Management colleagues in other Northern Trust locations to understand corporate risk programs/initiatives and how to implement them locally
- Assists the development of the internal financial risk policy and framework
- Provides oversight of relevant compliance programs to ensure the Branch complies with its regulatory obligations e.g. APS 210, APS 220, APS 221
- Ensures an up-to-date Risk Register is maintained for financial risks including mapping to relevant obligations and controls
- Monitors regulatory changes impacting financial risks of Australian business including advising on regulatory interpretation and application
- Assist in regulator queries regarding the Branch’s financial risk positions
- Assist in the review of financial risk appetite including supporting metrics and thresholds and assist the business in understanding and applying financial risk appetites
- Provides technical support by reviewing relevant models and quantitative techniques, performs scenario analysis and stress testing, prepares financial risk analysis and assessment
- Liaises with the risk partners and governance to ensure the financial risk exposures are adequately managed, monitored and reported on.
- Supports the regular, accurate and timely reporting of key information concerning NT’s risk profile
- Identify/escalate potential breaches, material risk issues and loss events as appropriate
- Contribution to the team:
- Interacts with business partners, regulators, and internal and external auditors on regulatory topics
- Work with the broad Risk and Compliance team towards the Company’s strategic goals
- Review works of others
- Works as a project lead
- Tertiary or Post Graduate degree in Actuarial, Finance, Accounting, Mathematics, Statistics, Engineering. Qualifications such as CFA and CPA are desirable.
- 10 or more years of relevant working experience in financial risk fields
- Knowledge of risk management techniques and risk related regulations including relevant APRA Prudential Standards (e.g. APS 210, APS 220, APS 221) is essential
- Knowledge/Experience in building or reviewing credit/liquidity risk models is highly regarded
- Strong technical, analytical and problem solving skills
- Strong verbal and written communication skills to with the ability to consult, influence and present to senior management
- Ability to operate autonomously and as a team player manage multiple priorities
- Strong numerical and analytical skills, with the ability to understand and succinctly explain complex data sets and concepts
- Experience in stakeholder management or a proven ability to influence stakeholders
- Strong working knowledge of obligations for the Wealth Industry, with a focus on APRA and ASIC
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 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 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.