Analyst, Risk

1 day left

Location
Chicago, Illinois, United States
Salary
Unspecified
Posted
24 Sep 2020
Closes
24 Oct 2020
Ref
84604
Contract type
Permanent
Hours
Full time

The Basel Independent Verification (BIV) team is a second line of defense team within Northern Trust’s Risk Control group located within Compliance. The team is responsible for verifying Northern Trust’s adherence to the Basel Final Rule, assessing NT’s state of compliance, and tracking the remediation of issues identified in the course of BIV reviews.

Northern Trust Corporation (NTC) uses the Advanced Approaches Risk-Based Capital Rule and Market Risk Capital Rule. The BIV team:

  • Performs independent challenge and effectiveness assessments of NTC’s advanced systems;
  • Conducts challenge and Basel Rule compliance review of any significant change to NTC’s modeling and tool assumptions (when not within Model Risk Management Group’s scope) or any change to an advanced system that would result in a material change in its RWA amount for an exposure type;
  • Provides support of independent assessment of Northern Trust’s operational risk / stress testing activities as requests arise.

In addition to the Basel Final Rule, key regulatory guidance covered includes BCC 13-3 and BCC 14-2.

Major Duties

The BIV Analyst is responsible for planning and executing specific Basel reviews, identifying issues, agreeing solutions and communicating findings effectively, both orally and in writing.

  • Independently establish the appropriate scope and test steps for individual reviews. This involves research of the applicable regulations and obtaining input from the Manager where required
  • Engage with Risk/Basel SME’s to understand any matters for concern related to applicable reviews
  • Conduct and adequately document testing reviews to assess compliance with and adherence to regulations/legislation
  • Validate and summarize testing results into reports including identification of issues and the determination of appropriate issue ratings
  • Hold discussions and liaise with senior management and BU/Risk partners (with the assistance of the Manager where required) regarding issues identified in order to come up with action plans and target completion dates
  • Complete assigned reviews in a timely manner as assigned by the Manager
  • Tracking of identified issues to closure via periodic follow up with action owners
  • Validation testing to ensure actions have been adequately closed
  • Co-ordinating the extension request process including obtaining appropriate approvals
  • Ensuring the issue log is up to date to enable accurate reporting on all issues, including any past due items
  • Attendance of relevant training and information sessions (internal and external) to increase knowledge of the regulatory environment, and to keep abreast of regulatory changes
  • Interact with business partners and internal auditors on Basel topics
  • Other duties as assigned by the BIV Manager

Knowledge/Skills:

  • Knowledge of risk management in the areas of credit risk, operational risk, and/or market risk
  • Using initiative to identify and resolve issues
  • Analytical ability to identify and understand compliance issues
  • Excellent written and oral communication skills with the ability to communicate with all levels
  • Attention to detail
  • Confidence and expertise to challenge and influence senior management and business partners
  • Ability to make decisions on their own and also to be a team player
  • Effective communicator to ensure that issues are appropriately resolved
  • Proven IT skills; strong working knowledge of Word, Excel & SharePoint
  • Ability to deal effectively with multiple competing deadlines

Experience:

  • 3 – 5 years of risk management, bank auditing, bank examination, or equivalent related experience
  • Basel experience preferred
  • Bachelor’s degree required

About Northern Trust:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Working with Us:

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 Forbes ranked us the top employer for Diversity in 2018.

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.

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