Northern Trust

Operational Risk Manager

Chicago, IL/Hybrid
17 May 2024
17 Jun 2024
Contract type
Full time
Experience level

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

The Operational Risk Manager is responsible for enabling, supporting and implementing the overall operational resilience risk management program in conjunction with the Head of Operational Resilience and Incident Management and other Operational Risk Managers across the organization. The Manager also serves as a seasoned thought leader and subject matter expert that has a strong technical understanding of risk management, including Operational Resiliency processes and activities (including Business Continuity and Disaster Recovery), within the financial services industry. The person performing this position will be responsible leading the global team, ensuring all employees buy into the overall vision, and will be responsible for the overall success of the team.

The role will involve on-going program evolution and design, as well as, significant stakeholder management and collaboration across locations and across business units/ functions as we look to evolve established programs to clearly support 1st line partners in the fulfilment of their risk management obligations while also addressing the existing and imminent cross jurisdictional regulations and regulatory expectations.

In addition, the Manager will advise senior management on opportunities to enhance the design and operating effectiveness of the internal control environment for Northern Trust’s risk management practices.

The key responsibilities of the role include:

  • Providing strategic thought leadership in designing and operationalizing Operational Resiliency risk management programs
  • Draft board reporting, both at the legal entity and corporate levels, to provide insight to board members on the key risks and themes identified
  • Interact with global regulators to articulate Risk Management’s view, and ongoing program and assessment of business processes and activities.
  • Maintains familiarization and technical expertise across the firm including organizational structure, personnel, activities and products, new product development, financial performance and risk and problem areas
  • Monitor regulatory updates and provide team with guidance on impact of changes in regulatory environment and how to adjust corporate programs to support.
  • Interacts, partners and presents to Senior and Executive Management to understand the risks/challenges within the business, business changes and other significant events that could significantly affect the firm or adherence to regulatory requirements and risk appetite
  • Participates in meetings with business units, Senior, and Executive Management to discuss program implementation and risk insights
  • Communicates with partners at all levels, developing and presenting recommendations on operations and controls
  • Represents Risk Management on Steering Committees and/or Working Groups
  • Drive and support change in the Non-Financial Risk team in line with the vision and strategy

The successful candidate will benefit from having:

  • Excellent verbal and written communication skills
  • In-depth Functional/Industry Knowledge is required
  • Ability to execute risk management strategy development to provide long term planning and managing ongoing risk performance
  • Analytical and communication skills are required to analyze information and disseminate information
  • Leadership and organizational skills to direct the activities for the multiple business units
  • Ability to foster positive and proactive approach to process assessment and improvement and to identify trends and improve processes for both the customer and the business
  • Strong organization, attention to detail, time management, planning skills and the ability to handle multiple competing priorities
  • Ability to make independent decisions and also to be a team player and effective communicator to ensure that issues are appropriately resolved
  • Confidence and expertise to advise management and the business
  • Ability to use initiative and work unsupervised in a proactive manner
  • Strong organizational skills, a collaborative approach to work, with strong interpersonal skills

Expertise Required

  • A College or University degree is preferred. Relevant work experience (10+ years) preferably in Risk Management, Audit, or equivalent related experience in operations is strongly preferred

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

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 sustainable companies! Build your career with us.

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at

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.

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.

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