Northern Trust - Tempe, AZ
posted 5 months ago
The Operational Risk Management Consultant at Northern Trust plays a crucial role in supporting the Head of Risk Control Self-Assessment (RCSA) in developing, overseeing, and monitoring compliance with the RCSA Program. This position is integral to identifying potential risk issues and advising management on procedural changes necessary to mitigate these risks. The Consultant will engage in research and solution development for various issues, interpreting and clarifying standards and procedures in response to inquiries and requests for information. Additionally, the role may involve recommending or developing operational efficiencies and producing presentations that help the wider risk management department understand root causes of control gaps, industry trends, and peer practices. The Consultant will be responsible for reviewing, disseminating, and interpreting RCSA standards and procedures, proactively establishing and documenting related standards within the parameters of relevant laws and regulations. They will verify that activities meet regulatory requirements and monitor outcomes and risk levels for the organization or assigned area. Consulting with partners regarding daily decisions that could pose risks and conflict with existing standards or procedures is a key aspect of this role. The Consultant will also communicate and provide advice to partners, identifying significant risk situations and guiding them in developing policies and procedures that balance risk and reward effectively. Furthermore, the Consultant will support discussions regarding the business and risk environment, research applicable subject areas to enhance team and department knowledge, and assist with data analytics, reporting, training, and tool development as required. This position reports to the Head of RCSA in Chicago and is part of a global risk team that operates across multiple time zones and jurisdictions.