Markets and Liquidity Risk Consultant

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. Since 1986, we have been serving clients in Asia-Pacific (APAC), including corporate pension funds, investment managers, insurance companies, government agencies, family offices and corporations. 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, Sydney, Singapore, Seoul, Tokyo and Kuala Lumpur.

Role Summary

As part of the Australian and Asia Pacific Risk and Compliance team, this role is responsible for working with the Chief Risk Officer Australia and the wider Risk and Compliance department to embed our risk management framework in Australia. This will include the Three Lines of Defence Model, working closely and collaboratively with the business and Internal Audit to do so.

This is a senior risk management role for Melbourne with second-line responsibility for business activities across the Branch, providing risk management oversight, guidance, consultation and support to business unit managers relative to the risks faced by the Branch.

The key objectives of this position are to work with the business to identify, analyse, challenge, mitigate, report, and escalate risks posed to the Branch by the various business activities undertaken. You will use a pro-active consultancy style, and work closely with Northern partners locally and globally to offer technical advice, interpretation, objective challenge and training on corporate policies and business unit operational procedures. Interaction with clients and prospects to describe Northern’s approach to management of risk is also within scope. You will be fluent operating within a global organisation, with this role interacting with treasuries based in London and Chicago, and local interaction within the Melbourne and Sydney Branch.

The role will report functionally to the Chief Risk Officer, Australia.

What you will do

The role is broad in nature and will include taking a lead on management of business as usual tasks and key initiatives including:

1. Provide ongoing risk support to The Australian Dollar Cash Clearing and APAC Treasury teams
2. Monitor the liquidity risk profile of the branch, including the LCR and stress testing results, and escalate issues as necessary. Provide input, advice and challenge into corporate led initiatives relating to liquidity stress testing and contingency funding plan testing
3. Become a trusted adviser to the Business on different risk themes and categories, including (but not limited to): Liquidity risk, Operational risk, Credit risk, Strategic risk
4. Providing SME advice across the Australian business on the operation of the Three Lines of Defence and on developing appropriate risk profiles
5. Liaise with Risk Management colleagues in other Northern Trust locations to understand corporate risk programmes/initiatives and how to implement locally
6. Assist with compilation of Legal Entity Risk reporting, including regular metric reporting and deep dive topics
7. Assist the Operational Risk Manager with operational risk management initiatives across business resiliency and recovery, outsourcing arrangements, process control reviews, scalability reviews and materiality assessments
8. Lead activities aimed at readiness for key regulatory visits
9. Conduct independent risk assessments as needed, and provide oversight and advice on risk self-assessments conducted by the business
10. “Horizon scan” the regulatory and business environment to identify new and emerging risks that could potentially impact the branch
11. Ongoing BEAR, cultural and governance requirements

Your Knowledge/Skills

• Professional experience and or appropriate qualification in Business/Legal/Audit /Compliance
• Extensive experience in Financial Services preferably in:
• Banking/Balance Sheet Management/Cash Payment Operations/Asset Servicing /Fund Administration/Capital Markets, at both a First line and Second line level
• A variety of operational and/or business roles, including deep knowledge of key banking regulators: APRA, ASIC and AUSTRAC
• Experience in leading risk management initiatives
• Meaningful exposure to risk and compliance and a clear appreciation of internal controls/governance and oversight across all 3 lines of defence
• Ability to 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
• Proven track record in understanding and managing regulatory change in a commercial and practical way
• Proven track record in making risk informed judgements, based on sometimes limited and/or ambiguous information, and leading facilitation of issue resolution
• Experience in report writing for an executive or committee level audience
• Excellent communication skills (written, verbal, meeting participation and presentation/facilitation) with the ability to influence at senior levels and deal with difficult situations
• Demonstrated ability to operate with flexibility, creativity, and a sense of urgency with a proven ability to manage in a changing business environment

As of June 30, 2020, Northern Trust Corporation had:

• $12.1 trillion in assets under custody/administration
• $9.3 trillion in assets under custody
• $1.3 trillion in assets under management
• $151 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 Forbes ranked us the top employer for Diversity in 2018. 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 northerntrust.com
• We are a leading global financial institution- Click here to check out our company accolades!

For a private discussion please contact Gez Williams on +61 3 9935 8204.

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