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Operational Risk Consultant

1 month 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 leverage our expertise and leading technology to deliver exceptional results.

Job Summary

The Risk & Control Self-Assessment (RCSA) Senior Consultant will play a critical role in our First Line of Defense Shared Service team. This individual will be responsible for executing the RCSA program, ensuring compliance with program framework and guidance, and collaborating with various stakeholders to identify risks and controls.

The successful candidate will serve as a subject matter expert, advising and guiding the business to properly identify risks and controls and documenting them appropriately. This role requires strong communication skills, the ability to foster a positive and initiative-taking approach to process assessment and improvement, and the capacity to handle multiple competing priorities.

Key Responsibilities
  1. Execute on Northern Trust's RCSA program by facilitating a value-added RCSA product that captures the risk and control environment of the business while adhering to policy, standards, and guidebook requirements.
  2. Management of the RCSA program deliverables - action plans, post-effectiveness testing, control evaluation, etc.
  3. Review workflows to identify and drive management of risks associated with the program and improve overall control environment.
  4. Contribute to the development, maintenance, and ongoing enhancement of RCSA program Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs).
  5. Review KPI/KRI framework, scorecards, dashboards to ensure appropriateness of metrics/key performance indicators for RCSA program.
  6. Development, maintenance, and ongoing enhancement of RCSA program controls and initiate projects where required.
  7. Implementation of controls to mitigate process risks.
  8. Strong stakeholder engagement to ensure identification of issues and timely completion of actions to meet deadlines.
  9. Ensure the RCSA system of record is functioning properly and engage in coordination with Third-Party vendor.
  10. Provide UAT testing support for system of record as needed.
  11. Improve overall risk management culture and knowledge via training/awareness sessions.
  12. Collaborate with senior management risk partners and lines of business partners to coordinate operational risk management activities.
  13. Contribute to establishing and maintaining program processes and practices which effectively ensure that the enterprise program remains current, and incorporates/aligns with industry standards and best practices as appropriate, while adequately covering regulatory requirements.
  14. Manage or lead projects aimed at improving the overall program.
  15. Communicate identified risks to key stakeholders, organize remediation action plans, and track identified risks to closure.
Requirements

Strong financial services experience, specifically within operational risk, controls, or audit.

Working knowledge of audit, risk, and operational management concepts and the ability to understand and interpret the impact of decisions, as well as identify and convey potential problem areas.

Strong communication skills with the ability to engage in a clear, concise, and effective manner, both verbal and written.

Ability to foster a positive and initiative-taking approach to process assessment and improvement and to identify trends and improve processes for both the customer and the business.

Ability to handle multiple competing priorities.

Ability to make independent decisions.

Familiarity with Fusion and/or Salesforce.

Experience performing regression testing.

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.

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.

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