Associate Audit Director, Wealth and Asset Management

4 weeks ago

Chicago, Illinois, 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.

Role/ Department: Associate Director, Asset and Wealth Management

The Audit Associate Director is responsible for helping to set the overall strategic direction of the Asset and Wealth Management audit team alongside the Audit Managing Director. The Associate Director also serves as a seasoned thought leader and subject matter expert that possess a strong technical understanding of Asset and Wealth Management related products, services, and regulations. Additionally, this role will be responsible for the leading and developing the Asset and Wealth Management audit team.

The key responsibilities of the role include:

  • Oversees and manages all audit activities within assigned areas of responsibility. Establishes an effective risk-based audit program. Ensures support provided by other audit teams (e.g., information systems auditing) is coordinated and properly covers the associated higher risk areas.
  • Ensures work is performed within established timeframes and department standards.
  • Maintains familiarization and technical expertise with the assigned business unit(s) including organizational structure, personnel, activities and products, new product development, financial performance and risk and problem areas.
  • Responsible for staying current on regulatory rules and changes within the industry.
  • Responsible for the issuance of audit reports for responsible areas to ensure clear, concise, and timely communication of risks and audit issues to Senior and Executive Management. Also, performs peer reviews of other Audit Team's reports when necessary.
  • Ensures that audit scopes are appropriate and cover key risks as defined by Department Policies and Standards.
  • Participates in senior-level committees and client meetings, along with presenting to the Corporation's Audit and Business Risk Committees as well as the local/regional Audit Committee, Oversight Committee, Legal Entity Boards and Risk Committees.
  • Communicates with regulators, external auditors, and various risk management committees within the Corporation as part of ongoing continuous monitoring which assists in managing the Audit Plan.
  • Interacts and partners with Senior and Executive Management to understand the risks within the business, business changes and other significant events that could significantly affect the business and/or the audit plan.
  • Manages and performs special projects as assigned.
  • Participates in meetings with business unit to discuss audit results.
  • Communicates with partners at all levels, developing and presenting recommendations on operations and controls for the business unit.
  • During audit engagements, assigns work to auditors, sets priorities and monitors activity.
  • Conducts the performance management process for direct reports. Oversees the performance management process and ensures that Audit Managers are identifying training and development needs for their respective audit teams.
  • Assesses and determines staffing needs to propose to senior management, makes employment recommendations, handles salary administration, and ensures resources are available to accomplish priorities. Participates in recruiting process for all Northern Trust audit teams.

Skills/Qualifications:

  • Knowledge of auditing in the financial services industry ( i.e., Wealth and Asset Management) with strong experience of auditing risk culture, operational risk, and compliance risk
  • Knowledge of the business unit/function that he/she is managing
  • Strong analytical, leadership, and organizational skills are needed
  • Strong report writing and workpaper documentation skills
  • Management, leadership and organizational skills are required to develop periodic goals and to manage and motivate team members towards the goals set
  • A College or University degree

The successful candidate will benefit from having:

  • Professional certifications (e.g., CPA, CISA, CIA, ACA, ACCA) and/or an MBA along with demonstrated technical abilities in select areas (e.g., accounting, regulatory compliance, etc.)

Working Model: Hybrid (#LI-Hybrid)

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

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

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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