Job Posting Title: Embedded Practice Control Officer

Job Description Summary:

Uses specific knowledge of a discipline to achieve goals through own work. Has specific knowledge or expertise typically gained through formal education or equivalent experience. Uses expertise to provide guidance to others as a project manager or consultant. Requires specialized depth and/or breadth of expertise in own job discipline or field. Leads others to solve complex problems. Works independently, with guidance in only the most complex situations. May lead functional teams or projects.

The Control Specialist is responsible for providing support and oversight of the operational control environment for the designated practice areas.  The Specialist must consistently identify risk, articulate the risk, and propose solutions to address risk to the practice area control manager and the control leadership team.  The Specialist consistently displays a balanced, cross-functional perspective, collaborating with the business, Control, and relevant Northern Trust counterparts (e.g., Risk, Legal, Compliance, Audit, etc.) to improve efficiency, effectiveness, and productivity.

Major Duties:

• Advise and assist control leadership on implementing the control framework and ensure adherence to maintaining the control processes in accordance with the highest standards and best practices.

• Conduct process Risk Assessments for your practice area(s). Ensure proper preventative and detective controls are in place for the practice functions assessed and prepare recommendations to strengthen control weaknesses.

• Support the risk-based control test plan to identify excessive risk and/or control issues at an early stage. Report process test findings to control management, (via the agreed Control Testing report template).

• Support manager with planning and execution of the thematic reviews required to provide assurance to business leadership of control effectiveness surrounding internal processes, procedures, and client specific servicing deliverables.

• Ensure that current policies and procedures are in place for relative practice area(s). Confirm that procedures are in compliance with organizational standards and regulatory requirements. Assists in the communication and implementation of corporate policies within the business unit.

• Communicate findings and enhancement recommendations (verbally and in writing) with control management.

• Support key Control programs such as the Audit Remediation, ASL, ATP Standards etc. Including the definition of the methodology, the execution of the programs, and to ensure the implementation and tracking of agreed actions.

• Foster and promote Northern Trust’s commitment to a strong risk management culture by developing a control mindset within the business.

Knowledge:

• Professional with extensive business experience, multi-disciplinary functional experience with a focus on proactive activities within the Global Control group.

• Knowledge of the firm and industry.

• Ability to explain difficult or sensitive information; works to build consensus.

• Strong communication skills, verbal and written.

• Attention to detail.

Experience:

• College or University degree is preferred.

• 7+ years of Risk & Control experience required.

• Financial services 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.