Fiduciary Risk Specialist

3 weeks ago

Chicago, Illinois, United States Northern Trust Full time

About Northern Trust:

Northern Trust is a leading global financial institution with a rich history dating back to 1889. As a Fortune 500 company, we have established ourselves as a trusted partner for individuals, families, and institutions seeking innovative financial services and guidance.

Our commitment to service, expertise, and integrity has enabled us to build a strong reputation and foster long-lasting relationships with our clients. With over 130 years of experience and a team of over 22,000 partners, we continue to evolve and adapt to the changing needs of our clients, leveraging leading technology and exceptional service to deliver tailored solutions.

Role/ Department:

The Fiduciary Audit Specialist will be a key member of our Audit Services team, responsible for providing strategic thought leadership in designing and maintaining a fiduciary risk audit coverage strategy. This role will involve executing the Fiduciary Risk Practice Lead Framework, providing feedback and advice to Audit teams on fiduciary risk and activities, and interacting with global regulators to articulate Audit's fiduciary risk view.

Key Responsibilities:

  • Design and maintain a fiduciary risk audit coverage strategy
  • Execute the Fiduciary Risk Practice Lead Framework
  • Provide feedback and advice to Audit teams on fiduciary risk and activities
  • Interact with global regulators to articulate Audit's fiduciary risk view
  • Function in various roles on audit engagements, including fiduciary subject matter expert or providing consulting or oversight functions
  • Provide fiduciary technical expertise to the Audit Team and use sound audit practices
  • Maintain familiarization and technical expertise with the assigned business unit(s)
  • Monitor fiduciary regulatory updates and provide team with guidance on impact of changes in regulatory environment
  • Interact, partner, and present to Senior and Executive Management to understand fiduciary risks within the business
  • Manage and perform special projects and other audit execution work as assigned
  • Participate in meetings with business units, Senior, and Executive Management to discuss audit results
  • Communicate with partners at all levels, developing and presenting recommendations on operations and controls for the business unit
  • Utilize understanding of various Corporate units to ensure operations, services, and systems have proper audit controls in place
  • Evaluate corporate management, business processes, business controls, and operating practices during audits and consulting/monitoring engagements
  • Apply analytical skills to review information and determine potential control weaknesses
  • Develop the audit teams technical understanding of fiduciary risk
  • Represent Audit Services or Steering Committees and/or Working Groups
  • Drive and support change in the Audit Services team in line with the vision and strategy

Requirements:

  • 7 to 10 years of experience in audit/risk/compliance, including in the fiduciary space
  • Subject matter expertise in fiduciary risk and fiduciary activities, both in North America and globally
  • Thorough understanding of project management principles in relation to people, systems, and processes
  • Interest and aptitude for identifying problems of varying complexity and developing sound and actionable solutions
  • Analytical and organizational skills necessary to conduct audits
  • Strong report writing
  • Excellent verbal and written communication skills
  • Leadership and organizational skills required to determine the Business Unit's goals, resources needed, and to assess and develop the skills of staff
  • A College or University degree

Preferred Qualifications:

  • Previous internal audit management experience
  • Professional certifications (e.g., CFIRS, CPA, CISA, CIA, ACA, ACCA) and/or an MBA

Working Model:

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

Working with Us:

As a Northern Trust partner, 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.

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