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 Risk and Controls Self-Assessment (RCSA) Specialist is responsible for assisting the Head of the RCSA program in the First Line-of-Defense (1LOD) to execute a key operational risk management program across the organization. This position must be a subject matter expert that has a strong technical understanding of risk management, including RCSA processes and activities, within the financial services industry.
This individual contributor will work closely with peers, stakeholders, and their manager to run and enhance the RCSA program. They will help define how Northern Trust best identifies and addresses risk for our most important processes and business areas. Last but not the least, given that we are a new team that lives Northern Trust's values of cherishing and nourishing our diverse and inclusive culture, we welcome you to help us further define and grow our community.
The key responsibilities will include:
- Management of the RCSA program deliverables - action plans, post effectiveness testing, control evaluation, etc.
- Review workflows to minimize risks associated with the program and improve overall control environment.
- Development, maintenance, and ongoing enhancement of RCSA program Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs)
- Review KPI/KRI framework, scorecards, dashboards to ensure appropriateness of metrics / key performance indicators for RCSA program.
- Development, maintenance, and ongoing enhancement of RCSA program controls including initiation of projects, where required.
- Implementation of controls to mitigate process risks.
- Strong stakeholder engagement to ensure identification of issues and timely completion of actions to meet deadlines.
- Ensure the RCSA system of record is functioning properly and engage in coordination with Third-Party vendor.
- Provide UAT testing support for system of record as needed.
- Improve overall risk management culture and knowledge via training/awareness sessions.
- Collaborate with senior management risk partners and lines of business partners to coordinate operational risk management activities.
- 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
- Manage or lead projects aimed at improving the overall program.
- Communicate identified risks to key stakeholders, organize remediation action plans, and track identified risks to closure.
The successful candidate will benefit from having:
- Ability to communicate in a clear, concise, and effective manner (verbal and written)
- 12+ years financial services experience with minimum 5 years of operational risk, controls, or audit experience
- Excellent working knowledge of audit, risk and operational management concepts, and the ability to understand and interpret the impact of decisions,...
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
