Head of Enterprise Risk Management (ERM)

About Northern Trust :

In order to make an application, simply read through the following job description and make sure to attach relevant documents.

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 trends, regulatory changes, and emerging risks to proactively identify potential threats and opportunities and evolve the risk management framework to align with changing business and regulatory practices

Knowledge / Skills & Experience Required :

• 20+ years of direct risk management framework experience preferred
• Proven experience overseeing the enterprise risk management framework at a large-scale financial services organization, preferably a GSIB
• Experience with financial and non-financial risk management and associated regulatory rules
• Proven capability in high-quality execution, including independent execution as well as influencing cross-functional stakeholders to act
• Strong communication skills, including verbal and written with all audiences, including senior leaders, in a structured manner, including on high-sensitivity topics
• Proven experience managing delivery of critical changes in complex environment
• Ability to establish trust-based relationships with stakeholders across enterprise, including experience effectively reviewing and challenging and raising awareness of key stakeholders
• BS / CA diploma in management or finance; An MBA or similar advanced degree is preferred

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.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply 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 you’re 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.

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