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Process, Risk, and Control Taxonomy Director

3 months 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.

The Process, Risk, and Control (PRC) Taxonomy Director is a key leadership position within Northern Trust's enterprise risk management function, charged with the responsibility of embedding and refining the PRC taxonomy across the lines of defense. As a key figure in the 2nd line of defense, this Director reports to the Head of Enterprise Risk Management and collaborates extensively with both the 1st and 2nd line teams. The core responsibilities encompass the development and maintenance of the PRC standards, furthering consistency and enhancing the quality of process and control documentation across risk domains, business units, and legal entities. This role will oversee the construction of the PRC Inventory and coordinate the definition of key controls, as well as maintain the associated technology capabilities. The PRC Taxonomy Director oversees the adherence to the aforementioned standards and is instrumental in fostering a culture of risk awareness through training and monitoring adherence across the lines of defense.

The ideal candidate will have a robust background in enterprise risk management, including PRC taxonomy and processes, at a large-scale financial services organization, and a demonstrated ability to oversee such functions and effectively collaborate with senior stakeholders.

Major Duties

  • Sustain and embed Process, Risk and Control Standard and Internal Control Standard across lines of defense through training and adherence monitoring
  • Drive consistency and quality of process and control documentation across risk domains, business units, and legal entities
  • Maintain Process, Risk and Control taxonomy and the Process and Control Inventory technology capability
  • Keep abreast of industry trends, regulatory changes, and emerging risks to proactively identify potential threats and opportunities and evolve the risk management framework to align with changing business and regulatory practices

Experience, Knowledge, Abilities

  • 12+ years of direct risk management framework experience at a large-scale financial services organization preferred, including enterprise risk management experience
  • Demonstrated knowledge and experience in designing, training, and monitoring enterprise PRC taxonomy and control identification practices, supporting effective implementation and sustainability
  • Proven capability in high-quality execution, including both independent execution, as well as influencing cross-functional stakeholders to drive change
  • Familiarity with ServiceNow or similar Governance Risk and Compliance tool, preferred
  • Experience overseeing financial and/or non-financial risks, including interpreting and adhering to associated prudential expectations
  • Ability to accurately identify, escalate, and drive actions to mitigate priority risks

Skills

  • Successful candidate will possess the following key skills: strategic thinking, conceptual thinking, logical thinking, stakeholder management, project management, change management, digital literacy, and PRC taxonomy and control identification
  • Strong communication skills, including verbal and written communications to senior leaders and committees

Education

  • BS/CA diploma in management or finance; An MBA or similar advanced degree preferred

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.