Risk Identification and Assessment Director

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 2nd line of defense, this Director reports to the Head of Enterprise Risk Management and collaborates extensively with both the 1st and 2nd line teams. The core responsibilities encompass the development and maintenance of the risk identification standard, 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 risk identification, emerging risks, risk assessment 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 the 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 designing, training, and monitoring enterprise risk identification and assessment practices, 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 priority risks Skills Successful candidate will possess the following key skills: strategic thinking, conceptual thinking, logical thinking, stakeholder management, project management, change management, digital literacy, and risk identification and assessment Strong communication skills, including verbal and written communications to senior leaders and committees Education BS/CA diploma in management or finance; An MBA or similar advanced degree preferred #LI-Hybrid 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 . 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.

Created: 2024-11-05