Manager, Sub-Advisory Compliance
Northern Trust Asset Management – Business Overview
Northern Trust is one of the world’s largest asset management firms with approximately $1 trillion in assets under management across a range of investment strategies. Thoughtful investors worldwide are making Northern Trust their asset manager of choice because they develop the answers clients need for today’s challenging world. They have a level of client dedication and collaboration clients can’t find anywhere else, and are anchored by renowned integrity and stability. Their investment process combines exhaustive research and vigilant risk management to provide a solid foundation for investing, and they also have an integrated technology platform and processing infrastructure that work around the clock and around the globe.
This person will serve as the head of all compliance-focused due diligence activities involving supervision of sub-advisers and other third-party managers. In this role, this person will work closely with the CCOs within NTAM, NTAM’s Operational Due Diligence Team, and NTAM’s Multi-Manager Research Team, and with other Northern Trust partners in the business unit and risk management, as well as internal and external counsel, to proactively administer and maintain a comprehensive compliance program.
- As the Head of Sub-Advisory Compliance, administer a program of supervision of all sub-advisory entities, including client reporting, board reporting, 15c reporting, client due diligence meetings.
- Provide a center of expertise in relation to all aspects of US regulation that impact the sub-advisory business. Advise and assist CCOs and other senior leadership in carrying out their governance and oversight responsibilities in compliance with prevailing regulation, applicable laws, policy and best practice. Keep the business up to date on developments or changes that may affect their areas, and work with them to implement effective, innovative solutions.
- Engage directly with counterparts in compliance and other control teams at third-party managers.
- Interface with internal business units, corporate compliance, risk management, and legal functions, as well as enterprise-level constituents. Administer and maintain a world class, comprehensive compliance program.
- Serve as a member of various oversight committees.
- Promote a positive compliance culture through communication and oversight of regulatory responsibilities at all levels and developing strong working relationships with the business.
- Participate in and contribute to the decision-making process on selected commercial projects as the need and opportunity arises.
- Extensive knowledge of Investment Advisers Act of 1940, Investment Company Act of 1940, ERISA, FINRA rules, and CFTC/NFA rules.
- Ability to communicate persuasively and with confidence, professionalism and authority at all levels of the business. Further ability to effectively present to a board of directors and executive officers within asset management.
- Experience working in a bank owned asset manager with both internal and direct distribution channels.
- Sound judgement, with a well-developed sense for risk identification, assessment and management.
- Broad investment product experience including multi-asset and multi-manager solutions.
- Analytical and communication skills required to review laws/regulations, assess their impact, and work with the business unit to implement any necessary policies, procedures, processes, and controls.
- A flexible, tolerant and collaborative approach towards the business and a desire to work in a diverse, yet conservative culture.
- Outstanding written and verbal communication skills, with demonstrated ability to effectively manage the relationships at the executive level. Proven experience of advising, negotiating, influencing and collaborating with others in the decision-making process across all levels of the organization.
- Experienced in managing high-performing teams.
- Proven experience of establishing effective, robust and integrated compliance programs.
- Track record of collaborating with executive management and staff to establish and improve operational structures that support business growth while complying with firm policies and regulations.
- Work with legal counsel to provide consistency with applicable regulations.
- Significant experience interacting with regulators and auditors.
- Must be a self-starter, able to work both independently and as part of a team.
- Highest level of integrity.
- Bachelor’s degree required; advanced degree or JD preferred.
- Regulatory experience a plus.
- 10+ years as a compliance professional, including at least 5 years supporting a compliance program that includes the Investment Advisers Act of 1940 and Investment Company Act of 1940 Act requirements.