at Northern Trust Company in Chicago, Illinois, United States
Job Description
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.
Under general supervision, the Chief Administrative Officer ("CAO") is responsible for ensuring that Northern Trust's Global AML and Economic Sanctions ("Global AML") program operates in accordance with corporate initiatives and standards. The CAO role is one of a seasoned multi-disciplinary expert with extensive business and industry knowledge related to risk management and compliance focused on the execution of the Financial Crimes Compliance strategic direction. This role serves as a liaison between Audit Services and Global AML partners and ensures that issues are remediated as required. Additionally, ensures that appropriate ongoing monitoring is performed on vendors and models used by Global AML. Ensures that intercompany agreements are developed and maintained between Global AML and the Northern Trust legal entities it supports. Oversees the Risk Control Self-Assessment (RCSA) and Business Continuity Program (BCP) processes for Global AML activities. Serves as a subject matter expert and trusted advisor to internal partners and external contacts. The role also includes carrying out complex Financial Crimes Compliance initiatives, which will require a cross-functional engagement to improve effectiveness and efficiency.
The key responsibilities of the role include:
- Serves as a liaison between Global AML and corporate functions including Audit Services, Global Compliance Testing, Model Risk Management Group, Third-Party Management Office, Procurement, Global Business Continuity and Recovery Services, Operational Risk Management, and others.
- Assists with the remediation and validation of issues raised during internal audits, regulatory exams, and other testing activities in accordance with Northern Trust's Enterprise Issue Remediation Methodology.
- Ensures that appropriate due diligence and ongoing monitoring of Global AML vendors and models is performed in accordance with Northern Trust's Third-Party Management Practice Standard and Corporate Model Risk Management Policy, respectively.
- Oversees Global AML's Risk Control Self-Assessment and Business Continuity processes and ensures that Global AML's activities are appropriately documented, assessed, and monitored in accordance with corporate standards.
- Develops and maintains intercompany service delivery agreements between Global AML and receiving locations.
- Monitors activities to ensure that services are delivered as defined. Participates in special projects to enhance the AML program, as directed by management. Identifies opportunities to enhance operational performance.
- Escalates to Global AML management any compliance risks identified through the normal course of work. Represents the department in various meetings within AML and other Risk functions
- Solves problems in straightforward situations; analyzes possible solutions using technical experience and judgment and precedents.
- Able to facilitate discussions and reach decisions.
- Able to serve as a key subject matter expert.
The successful candidate will benefit from having:...
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
