Op Risk Transformation Manager

Chicago, Illinois, United States
08 Oct 2020
21 Oct 2020
Contract type
Full time
Experience level

The Op Risk Transformation Lead is a new role primarily charged with taking execution leadership for the re-design/modernization and implementation of a number of existing non- financial risk programs, initially prioritizing Operational Resiliency and 3rd party/Vendor Management.

The role will involve extensive stakeholder management and syndication across locations and across business units/ functions ( COOs/CCOs) 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. 

The role recognizes the extent to which regulations and regulatory expectations are materially impacting the Operational Risk framework and the appropriateness of the existing risk programs. This role is a member of Operation Risk Committee and the Non-Financial Risk leadership team and along with this team will be instrumental in working towards the vision of a more integrated, better designed suite of risk programs and a better understood non-financial risk oversight function. 

The role reports to the Chief Operational Risk Officer and Head of Non-Financial Risk. Provides leadership to both the design, syndication, implementation and oversight of these programs and working with colleagues in the leadership team, the evolution of the associated tools, governance and accountability models required to ensure ongoing effectiveness


The initial focus will be on 2 strategic imperatives –  

  1. The continued roll out and embedding of the Operational Resilience framework, and 
  2. The redesign of the 3rd party oversight standard and operating model.
  • Collaborate with a team of peers across the non-Financial risk practice, other BU/Regional risk and compliance leaders and work with an assigned Program Manager(s)
  • Establish strong and constructive working relationships with COO/CCO leads in the business units and, if necessary , the corporate functions 
  • Ensure that the new models/programs are designed with a much greater focus on clear accountability delineation
  • Assess the tools currently deployed and assess the extent to which these are fit for purpose or require enhancement or indeed replacement. Furthermore the successful candidate will be expected to keep abreast of market practices ( peers, consultancy) and regulatory thinking.
  • Evaluates key business and organizational challenges
  • Directs the development of new or innovative solutions


  • Applies in-depth knowledge of how own function or business unit/corporate group integrates with other businesses across the company and how the company differentiates itself from competitors to create competitive advantage
  • Requires a broad and comprehensive understanding of theories and practices in a discipline or multiple disciplines
  • Influences and negotiates, internally and externally, with great latitude on outcomes 
  • Good understanding of 3 LoD model
  • Ability to draft policy/standard documentation
  • Ability to prepare and give presentations which clearly articulate what is being proposed and why and can anticipate and deal with challenge
  • Ability to work collaboratively across the organization and to manage the engagement of a team of peers/partners across the organization
  • Able to design appropriate but pragmatic solutions
  • Ability to think and act globally with particular focus on working with the CRO in India/Manilla , other regional risk leads 


  • Good understanding of the different elements of operational risk – resilience, 3rd party, RCSA, IT /Cyber risk and data privacy
  • Application of effective governance to extract meaningful risk insights
  • Understand key regulatory expectations as they pertain to Operation Risk and 3rd party management leadership responsibility which may include business unit/corporate group or a region
  • Develops the strategic plans for own organizational entity

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 aflexible 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.

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