Finance/Risk Manager

Who we are

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise, and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families to the most-successful hedge funds and corporate brands.

What we do

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

What you will do

You will be responsible for managing the Finance function of TNTC Seoul Branch. The Country Finance and Risk Manager, South Korea, is a key business partner in the location working with the Country Office Head and functional leads to achieve Northern Trust’s business goals in the country.

You will be responsible for all legal entity accounting and reporting, regulatory reporting, audit and tax matters, management reporting and analysis, ongoing review and substantiation of proper controls, adherence to relevant accounting standards and policies in South Korea.

In addition to the above the successful candidate shall be responsible for maintaining a robust monitoring and risk reporting process for TNTC Seoul office. The scope covers the Market and Liquidity risks arising from Seoul FX desk and regulatory reporting within the Seoul office. This role is to carry out FX risk monitoring of the Seoul desk and escalation process upon breach locally, regionally and at Corporate level according to risk policies. The Finance / Risk split is estimated at 80/20.

You will report into the Regional CFO based in Singapore and shall have matrix reporting lines into the Country Head, South Korea and APAC CRO.

This role also works closely with and manages a dedicated resource in Manila, who has responsibility of supporting TNTC Seoul Branch. This role shall also be a member of the APAC Finance Leadership Team and the South Korea Executive Management Committee.

Duties:

Finance

Controllership

• Oversight of all business finance activities, serving the global finance function heads, regional management, regulators, tax authorities and other local stakeholders and to provide leadership and guidance to the planning, organization, direction and control of the Finance function
• Primary and direct responsibility for planning, overseeing and directing the activities of the South Korea Finance function towards achievement of the Corporation’s objectives and for timely briefing and reporting on Finance matters to both management and appropriate governance bodies including Committees
• Responsibility for the production and integrity of the location’s financial information, tax and its regulatory reporting in respect of its regulated activities
• Management of the allocation and maintenance of capital, funding and liquidity
• Primary responsibility in the first line of defense for understanding and managing the risks inherent in the Finance function and for taking reasonable steps to ensure the adequacy of the control and governance arrangements within that function
• Ensure the requirements of the South Korea Finance function are properly supported by a robust infrastructure and that adequate resources, systems and controls are in place to comply with all applicable accounting standards, regulatory requirements, corporate policies and NT corporate governance standards.
• Ensure effective risk management of the activities of the South Korea Finance function
• Manage key external relationships with the Regulators, External Auditors and other key outside stakeholders
• Manage the preparation and completion of all applicable financial statements, financial reports, including submissions to the Regulator
• Provide consultation and advice to APAC CFO and Korea Branch Manager on management of excess operational funds

Management Reporting and Analysis

• Oversee an effective management information process, including active engagement with business heads
• Responsible for annual budgeting
• Responsible for the preparation and explanation of various historical and forecasted reports of unit financial performance including management reporting, to partners and senior management

Risk Management

• Provide support to the risk management function in Korea
• Staying updated on changing FSS regulation for Market and Liquidity landscape to ensure Seoul office is compliant to local and industry standards
• Work with other teams in APAC risk teams for process integration and regional alignment
• Monitor and review of risk guidelines related to Intraday and End of Day FX Net Open Position, Profit and Loss and Liquidity Coverage Ratio (LCR)
• Periodic review of FX Trading risk policy and LCR monitoring procedure.
• Prepare the Risk report for Seoul Branch on a quarterly basis, liaising with the relevant stakeholders.
• Liaise with APAC risk team during the annual risk assessment review of the Seoul Branch.
• Perform the secretary role of the Seoul Branch Risk Management. Ensure that the self-assessment survey and Term of Reference are reviewed annually.

Other

• Proactively drive continuous improvement in the team by stressing the importance of ongoing evaluation of existing processes to promote greater effectiveness
• Work as part of the wider International Finance function, engaging with other teams to help meet group objectives
• Participate in ad-hoc projects and other related responsibilities assigned from time to time

Your Knowledge/Skills

• Knowledge of Korean tax, regulatory reports and financial reporting processes and standards acquired through related work experience typically in a financial institution or accounting firm, with a sound understanding of financial Korean laws and regulations
• Excellent analytical and evaluation skills combined with considerable attention to detail
• Excellent time management and organizational skills
• Strong communication skills with the ability to manage effectively in a global and matrix organizational structure environment
• Flexible approach to process changes and variable workloads
• Ability to make sound decisions and resolve problems before they escalate
• Thorough business knowledge and big picture understanding
• Experience in managing risks relating to, foreign exchange, counterparty, and other operational processes are preferred.
• University/College Degree with minimum 10 years’ experience within the financial institutions which is subject to the inspection of the FSS.
• Demonstrate to have the expertise and practical experience in financial and risk management.
• Demonstrated leadership skills.
• Proficient in both the Korean and English languages.
• CPA/CA
• ERP experience – Preferably Peoplesoft

As of March 31, 2021, Northern Trust Corporation had:

• $14.8 trillion in assets under custody/administration
• $11.5 trillion in assets under custody
• $1.4 trillion in assets under management
• $164 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.

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 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.