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.
The Head of Enterprise Risk Management is responsible for embedding and sustaining the organization's enterprise risk management framework across the 1st and 2nd lines of defense globally. This role is part of the 2nd line, reporting to the Chief Risk Officer, and working closely with the 1st line control teams and 2nd line leadership. Key responsibilities include continuous improvement and sustainability of the Enterprise Risk Management Policy and associated risk management lifecycle standards (risk identification, assessment, measurement, treatment, monitoring and reporting); leading the central policy and committee teams; maintaining taxonomy and rating scales; and establishing agendas for the Global Enterprise Risk Committee and Business Risk Committee of the Board. In addition, the Head of Enterprise Risk Management is responsible for an independent effectiveness review of enterprise risk management across the 1st and 2nd lines, including a forward-looking resource assessment, that will be reported annually through the Global Enterprise Risk Committee and Business Risk Committee of the Board.
The ideal candidate will have a proven track record of leading the enterprise risk framework function, robust knowledge of risk management lifecycle processes, and the ability to collaborate with cross-functional senior stakeholders across the organization globally.
Major Duties
- Sustain and embed the overall Enterprise Risk Management Policy and supporting standards (risk identification, assessment, measurement, treatment, monitoring and reporting) across the lines of defense and in alignment with the organization's risk appetite and strategic objectives
- Sustain and embed risk management lifecycle standards to support risk identification, assessment, measurement, treatment, monitoring and reporting across the lines of defense, as well as business units and global legal entities
- Maintain risk taxonomy inclusive of the development of a process, risk and control inventory and associated business requirements for technology underpinning the risk management framework
- Lead the organization's regular refresh of Risk Appetite Policy, statement, metrics, and thresholds across the corporation and coordinating, as appropriate, at the business unit and legal entity level
- Drive the production and presentation of aggregate risk profile reporting up through the Global Enterprise Risk Committee and Business Risk Committee of the Board
- Lead and develop a team of risk management professionals, including oversight of the central teams responsible for policy and committee governance
- Perform the independent effectiveness review of enterprise risk management across the 1st and 2nd lines, including a forward-looking resource assessment, that will be reported annually through the Global Enterprise Risk Committee and Business Risk Committee of the Board
- Establish agendas for the Global Enterprise Risk Committee and Business Risk Committee of the Board, covering regular risk profile reporting as well as timely escalations
- Keep abreast of industry...
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
