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 Identification and Assessment Director is a key leadership position within Northern Trust's enterprise risk management function , charged with the responsibility of embedding and refining the risk identification and assessment processes across the lines of defense . As a key figure in the 2 nd line of defense, this D irector reports to the Head of Enterprise Risk Management and collaborates extensively with both the 1 st and 2 nd line teams. The core responsibilities encompass the development and maintenance of the r isk i dentification s tandard, the implementation of an emerging risk and material risk identification process, and the enhancement of risk assessment standards, including maintaining risk rating and materiality scales. This role involves leading initiatives to ensure comprehensive risk identification, driving the detection of material and emerging risks, maintaining and advancing risk inventory technology capabilities, and conducting impact assessments to apply materiality thresholds. The Risk Identification and Assessment Director oversees the adherence to the aforementioned standards and is instrumental in fostering a culture of risk awareness through training and monitoring adherence across the lines of defense.
The ideal candidate will have a robust background in enterprise risk management , including risk identification and assessment, at a large-scale financial services organization , and a demonstrated ability to oversee such functions and effectively collaborate with senior stakeholders.
Major Duties
- Design, implement, and sustain standards for r isk i dentification , emerging risks, risk a ssessment across lines of defense through training and adherence monitoring
- Establish and maintain risk ratings and materiality scales used in identifying top and material risks
- Drive identification of top, material , and emerging risks
- Maintain risk inventory technology capabilities
- Keep abreast of industry trends, regulatory changes, and emerging risks to proactively identify potential threats and opportunities and evolve th e risk management framework to align with changing business and regulatory practices
Experience, Knowledge, Abilities
- 12+ years of direct risk management framework experience at a large-scale financial services organization preferred , including enterprise risk management experience
- Demonstrated knowledge and experience in de signing, training, and monitoring enterprise risk identification and assessment practice s, supporting effective implementation and sustainability
- Proven capability in high-quality execution, including both independent execution , as well as influencing cross-functional stakeholders to drive change
- Familiarity with ServiceNow or similar Governance Risk and Compliance tool, preferred
- Experience overseeing financial and/or non-financial risks, including interpreting and adhering to associated prudential expectations
- Ability to accurately identify , escalate , and drive actions to mitigate...
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
