Head of First Line of Defense Financial Risk (Chicago)

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 worlds 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 worlds most sophisticated clients using leading technology and exceptional service.

Responsible for managing the First Line of Defense (1LOD) Financial Risk considerations for the Asset Servicing (AS) Business Unit, with an initial focus on counterparty credit, stress testing, risk weighted assets (RWA) and other p/l and balance sheet related matters. The Head of 1LOD Financial Risk is responsible for managing a team of 5 Northern Trust partners based in London and Manila.

Major Duties :

• Leads 1LOD requirements in Financial Risk matters for the Asset Servicing Business Unit and the Capital Markets Business Segment in particular.
• Provides single point of contact for 2LOD for review/challenges, incidents, issues as well as input into limit setting and stress testing frameworks.
• Represents AS as 1LOD representative on key Credit Risk committees.
• Oversees 1LOD requirements for credit risk regulatory interpretation matters (e.g. RWA, SCCL) as well as production of quarterly RWA submissions.
• Develops and oversees execution of controls to ensure the integrity of NTs books and records (balance sheet and p/l) in relation to Capital Market activity.
• Provides 1LOD Financial risk oversight for Capital Markets brokerage legal entities (NTSI, NTS LLP, NTSA).
• Manages and develops team as well as reviewing resource needs to meet current or future business objectives.

Required Knowledge :

• Counterparty credit risk and quantitative stress testing techniques.
• Product knowledge of either securities financing or foreign exchange.
• Additional knowledge of agency brokerage is preferred.

Required Experience :

• Proven track record of critical and strategic thinking
• Minimum of 10 years experience in financial risk (1LOD or 2LOD)
• Global management experience

Salary Range:

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us:

As a Northern Trust partner, greater achievements await. 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!Join a workplace with a greater purpose.

Wed love to learn more about how your interests and experience could be a fit with one of the worlds most admired and sustainable companies! Build your career with us andapply today.#MadeForGreater

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 at [email protected] .

We hope youre excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.