Head of Multi-Manager Due Diligence

3 months ago

Chicago, United States Northern Trust Full time

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.

Northern Trust Asset Management

Northern Trust is one of the world’s largest asset management firms with approximately $1 trillion in assets under management across a range of investment strategies. Thoughtful investors worldwide are making Northern Trust their asset manager of choice because they develop the answers clients need for today’s challenging world. They have a level of client dedication and collaboration clients can’t find anywhere else and are anchored by renowned integrity and stability. Their investment process combines exhaustive research and vigilant risk management to provide a solid foundation for investing, and they also have an integrated technology platform and processing infrastructure that work around the clock and around the globe.

Job description

This role will serve as the head of all compliance-focused due diligence activities involving supervision of sub-advisers and other third-party managers. In this role, this person will work closely with the CCOs within NTAM, NTAM’s Operational Due Diligence Team, and NTAM’s Multi-Manager Research Team, and with other Northern Trust partners in the business unit and risk management, as well as internal and external counsel, to proactively administer and maintain a comprehensive compliance program.

Responsibilities

  • As the Head of Multi-Manager Due Diligence, administer a program of supervision of all sub-advisory entities, including client reporting, board reporting, 15c reporting, client due diligence meetings.
  • Provide a center of expertise in relation to all aspects of US regulation that impact the sub-advisory business. Advise and assist CCOs and other senior leadership in carrying out their governance and oversight responsibilities in compliance with prevailing regulation, applicable laws, policy, and best practice. Keep the business up to date on developments or changes that may affect their areas, and work with them to implement effective, innovative solutions.
  • Engage directly with counterparts in compliance and other control teams at third-party managers.
  • Interface with internal business units, corporate compliance, risk management, and legal functions, as well as enterprise-level constituents. Administer and maintain a world-class, comprehensive compliance program.
  • Serve as a member of various oversight committees.
  • Promote a positive compliance culture through communication and oversight of regulatory responsibilities at all levels and developing strong working relationships with the business.
  • Participate in and contribute to the decision-making process on selected commercial projects as the need and opportunity arises.

Requirements:

  • Extensive knowledge of Investment Advisers Act of 1940, Investment Company Act of 1940, ERISA, FINRA rules, and CFTC/NFA rules.
  • Ability to communicate persuasively and with confidence, professionalism, and authority at all levels of the business. Further ability to effectively present to a board of directors and executive officers within asset management.
  • Experience working in a bank-owned asset manager with both internal and direct distribution channels.
  • Sound judgement, with a well-developed sense for risk identification, assessment, and management.
  • Broad investment product experience including multi-asset and multi-manager solutions.
  • Analytical and communication skills required to review laws/regulations, assess their impact, and work with the business unit to implement any necessary policies, procedures, processes, and controls.
  • A flexible, tolerant, and collaborative approach towards the business and a desire to work in a diverse, yet conservative culture.
  • Outstanding written and verbal communication skills, with demonstrated ability to effectively manage the relationships at the executive level. Proven experience of advising, negotiating, influencing, and collaborating with others in the decision-making process across all levels of the organization.
  • Experienced in managing high-performing teams.
  • Proven experience of establishing effective, robust, and integrated compliance programs.
  • Track record of collaborating with executive management and staff to establish and improve operational structures that support business growth while complying with firm policies and regulations.
  • Work with legal counsel to provide consistency with applicable regulations.
  • Significant experience interacting with regulators and auditors.
  • Must be a self-starter, able to work both independently and as part of a team.
  • Highest level of integrity.

Qualifications

  • Bachelor’s degree required; advanced degree preferred.
  • Regulatory experience a plus.
  • 7+ years as a compliance professional, including at least 5 years supporting a compliance program that includes the Investment Advisers Act of 1940 and Investment Company Act of 1940 Act requirements.

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 and apply today.

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 MyHRHelp@ntrs.com.

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.

Apply today and 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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