Risk Management Director

3 days ago


Chicago, Illinois, United States Northern Trust Full time

About Northern Trust:

Northern Trust is a leading global financial institution that has been in operation for over 130 years. As a Fortune 500 company, we are proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions.

We remain true to our enduring principles of service, expertise, and integrity, which enable us to build long-lasting relationships with our clients and partners.

The Chief Control Office will be responsible for providing strategic leadership and direction for the organization's control functions. This role requires strong engagement with the Board of Directors, Risk and Operating Committees, and Executive Leadership within the organization on risk and control matters.

Key Responsibilities:

  • Develop and implement internal control design guidelines, policies, and procedures to ensure compliance with regulatory requirements and industry standards.
  • Evaluate the design and effectiveness of internal controls, including segregation of duties, access controls, and authorization processes.
  • Oversee internal audits, reviews, and testing procedures to assess the reliability and accuracy of financial and operational information.
  • Monitor and track remediation efforts and action plans to address audit and supervisory findings and control weaknesses.
  • Mature the control testing capability to ensure robust testing, quality control, and validation practices support the risk management lifecycle.

Governance and Oversight:

  • Provide governance and oversight to ensure adherence to control policies and procedures from the first line of defense.
  • Collaborate with other leaders to ensure a consistent approach to risk and control management across the organization.

Operational Effectiveness and Innovation:

  • Develop a control framework that is cost-effective, supports regulatory requirements, is fit for purpose, and sized according to the risk for which it mitigates.
  • Leverage technological advancements to drive the growth of control mechanisms, including the use of data analytics, technology solutions, and third-party associations.
  • Analyze data and trends to identify emerging risks and areas for improvement in internal control processes.

Culture and Awareness:

  • Promote a culture of risk awareness and proactive risk management across the enterprise.
  • Foster an environment where all employees understand their role in managing risk and are comfortable raising issues and concerns.
  • Provide training and guidance to employees on internal control principles, policies, and procedures.

Compensation: The estimated annual salary for this position is around $160,000 - $200,000, depending on experience and qualifications. We offer a competitive benefits package, including comprehensive health insurance, retirement savings plan, and paid time off.



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