International Chief Risk Officer, Asset Management

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 worlds most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 yearsof financial experience and over 22,000 partners, we serve the worlds most sophisticated clients using leading technology and exceptional service. ROLE:Based in London, the role is for an International Chief Risk Officer to povide leadership and guidance to the planning, organisation, direction and control of the activities within Northern Trust Asset Management (NTAM) International (EMEA & APAC) locations. Provide independent advice and leadership on all aspects of investment, operational, regulatory and compliance risks to NTAM International; Manage a team with risk oversight responsibilities for NTAMs offices in London, Dublin, Melbourne, Tokyo and Hong Kong, as well as their distribution channels in other countries throughout the EMEA and APAC region; As part of the NTAM Global Risk Executive Leadership Team, promote global solutions and risk practices to support the global business model; The role is responsible for effective risk management policies, procedures and processes to identify, measure, manage and monitor all relevant risks; ensuring that risks are managed within agreed appetite limits set; and reporting on those risks as appropriate. The incumbent will provide consultation and advice on risk related matters whilst maintaining close working relationships with the key stakeholders to provide alignment with policies and approaches across the business. REGUALTORY APPROVED ROLES: NTGIL: SMF 4 - Chief Risk Function SMF 3 - Executive Director1 TNTCHK: MIC - Manager in Charge for Risk FCA SENIOR MANAGER PRESCRIBED RESPONSIBILITIES:NTGIL s - Responsibility for: a) managing the firms internal stress tests; and b) ensuring the accuracy and timeliness of information provided to the FCA and other regulatory bodies for the purposes of stress testing BOARDS & COMMITTEES:

• Chair of Business Risk Committee, EMEA
• Chair of Business Risk Committee, APAC
• Member of Asset Management Risk Committee (AMRC)
• Member of NTGIL Board & NTGIL Risk & Audit Committee, NTGIL CASS Committee
• Member and/or Attendance of local risk committees e.g. EMEA Risk Committee, APAC Risk Committee , EMEA Prudential Committee, EMEA Operational Continuity Committee, EMEA Product Governance Forum
• Member of NTAM Global Risk ELT (Executive Leadership Team)

RELATIONSHIPS:Direct reports

• EMEA & APAC Operational Risk Consultant(s)
• EMEA Operational Risk Specialist(s)
• EMEA Investment Risk Specialist(s)

Internal key stakeholders:

• NTAM International Business Unit and Risk partners
• NTAM legal entity Board of Directors
• Committee Members
• NT Partners

External key stakeholders:

• Regulators including CBI, FCA, FRB, SEC, FSA, SFC and ASIC
• Clients
• External Advisors
• Shareholders

MAJOR DUTIES:

Provide independent advice and leadership on all aspects of investment, operational, regulatory and compliance risks across the NTAM International business;

Manage, develop and lead the International team with risk oversight responsibilities for NTAMs offices, as well as their distribution channels in other countries throughout the International region;

Manage the implementation of and ongoing adherence with the Risk Framework, including periodic review of the risk management framework.

Manage the Prudential Risk and Capital related processes; liaising with specialists in prudential risk, liquidity risk and legal entity risk reporting, as well as regulators, and internal & external auditors.

Enable NTAM International to adapt to new challenges while managing existing risks of investment products, regulatory change and infrastructure related issues in accordance with growth plans;

As part of the NTAM Global Risk Executive Leadership Team, promote global solutions and risk practises to support the global business model;

Active involvement in Oversight Committees, Boards, and in day-to-day interaction with staff;

Provide consultative Risk Management services to the business on a range of key projects where Risk is a major stakeholder and participate in Global / Group risk initiatives by providing appropriate, market driven scenario analysis and stress testing results

Plan, organise, direct and support risk program plans and projects; evaluate results and recommend policies, procedures, and actions to achieve an appropriate control environment for NTAM International businesses;

Promote cross-region coordination of activities and standards;

Assume ownership for embedding overall risk management practices, across the NTAM International businesses

Develop and maintain effective relationships with all internal and external service providers

Promote corporate values including integrity

Identification, evaluation and ongoing management of all aspects of investment, operational and compliance/ regulatory risks

Ensure the provision of accurate and timely periodic summary risk reports to international Boards, where applicable, external Fund boards, including a commentary on any changes in the market environment and any resultant changes to strategy risk limitsto allow them to fulfil their own oversight and governance roles

Organize and lead NTAM regional Business Risk committees and provide ongoing risk governance to the business

Ensure the highest standards of Corporate Governance in the context of the relationship of each subsidiary with its parent

Ensure adequate systems and controls are in place such that all functions in area of responsibility: comply with all legal and statutory requirements applicable, including but not exclusivelyCBI, FCA, FRB, FSA, SFC, ASIC, and SEC regulations, employmentlegislation, health and safety and corporate governance

comply with any applicable corporate policies, local standards and service agreements

balance the interests and requirements of clients and the bankManage all aspects of function with due skill, care and diligence including effective controls, risk management and mitigation and delegation of activity to appr