Role Purpose
The AI Risk & Controls Lead is responsible for establishing and operationalising first-line-of-defence (1LOD) controls for AI across the enterprise.
This role ensures that AI solutions are designed, deployed, and managed in line with regulatory, risk, and audit expectations, while enabling responsible innovation at scale.
Key Responsibilities
🔹 AI Governance & Control Framework
- Define and implement AI control frameworks aligned to enterprise risk standards
- Embed 1LOD controls across AI lifecycle (design 14 build 14 deploy 14 monitor)
- Partner with Risk, Compliance, and Audit to ensure alignment with enterprise policies
🔹 AI Model Management & Oversight
- Oversee AI model inventory, classification, and lifecycle management
- Define and enforce model governance standards (documentation, approvals, controls)
- Ensure traceability of models, datasets, and decision logic
🔹 Documentation & Regulatory Readiness
- Own end-to-end AI documentation standards (models, use cases, controls)
- Ensure readiness for internal audit, regulatory inspection, and model validation
- Maintain audit-ready evidence repositories
🔹 Controls Monitoring & Reporting
- Define and track AI control metrics, usage tracking, and compliance indicators
- Monitor adherence to policies (ethical AI, data usage, model risk)
- Provide risk dashboards and reporting to leadership
🔹 AI Risk & Audit Partnership
- Act as primary 1LOD interface with 2LOD (Risk) and 3LOD (Audit)
- Support audits, reviews, and issue remediation
- Translate regulatory expectations into practical control execution
🔹 Enablement & Advisory
- Advise AI delivery teams (CoPilot, Digital Co-Worker, ACE, etc.) on control requirements
- Embed controls into AI operating model and delivery pipelines
- Drive awareness of responsible AI practices across teams
Key Skills & Experience Required
- Deep experience in:
- AI governance / AI audit / model risk management
- Control design and operationalisation (1LOD)
- AI model lifecycle & documentation practices
- Experience with:
- Model inventories, usage tracking, and control frameworks
- Audit readiness and regulatory expectations
🔹 Desirable
- Financial services / regulated environment experience
- Understanding of:
- AI/ML concepts (not necessarily data scientist level)
- Regulatory landscape (EU AI Act, SR 11-7, model risk frameworks)
Success Measures
- % of AI use cases onboarded into governance framework
- Audit findings / control gaps reduction
- Time to evidence production for audit
- Coverage of AI model inventory & tracking
- Adoption of AI control standards across platforms
Salary Range:
$137,400 - 233,600 USD
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.
