Manager, Operations Control - NTAM

☞ Northern Trust Corp.

View: 101

Update day: 06-05-2024

Location: Bengaluru / Bangalore Karnataka

Category: Legal / Contracts

Industry: Financial Services

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Continue to grow your career with us!
We believe in empowering our partners with the resources, support and opportunities to Achieve Greater and reach their full potential.
As a Northern Trust Partner, you will continue to be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve.
We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why Forbes ranked us the top employer for Diversity.
Role/ Department:
We are excited to announce we have a vacancy in our Northern Trust Asset Management (NTAM) department and we strongly encourage any current employee who is interested in the role to apply.
Northern Trust Asset Management (NTAM) is an over a trillion dollar investment management firm entrusted by investors around the globe to help them navigate changing market environments, so they can confidently realize their long-term objectives.
The objective of the NTAM Business Control team is to support strong oversight of the global end to end system of controls through active engagement, thematic reviews, risk analysis and control deep dives to continuously manage and reduce NTAM’s residual risk profile. To achieve this goal, the control team works directly with Risk and the regional and global NTAM executives and partners to establish the risk appetite, assess the control environment, establish governance and systems that identify, quantify, manage and monitor risk at the most granular level, and establish risk tolerances and risk management procedures and tools. It also assists in rapid issue identification and escalation, coordinates with the Business, Risk and Compliance, liaises with Audit and Regulators for exams, and ensures audit and regulatory issues are addressed expeditiously. It oversees reporting on all control programs to Management and the Board as needed, leads/supports projects to ensure full compliance as appropriate, partners internally to implement policy and regulatory changes as communicated by the second line of defense, and ensure changes are rolled out consistently across NTAM where applicable. Finally, it helps strengthen and reinforce a strong risk culture.
The India Head of Control function will be primarily responsible for executing on the overall direction and oversight of this India control team and be a key member of the leadership team of the NTAM Global Head of Controls. This leader will partner directly and frequently with senior business leaders, operational and IT partners, Risk, Audit, Compliance and other key stakeholders to lead and execute on strategic controls initiatives impacting NTAM such as implementation of the RCSA framework and its on-going oversight, enhancing third party oversight in NTAM’s India operations and as needed support NTAM APAC operations. This leader will build out the India control function by assessing existing capability gaps and constructively partnering with NTAM Senior leaders, other lines of defense, external auditors and regulators. It will involve assessing, advising, testing, monitoring, and ultimately influencing the business on effective solutions to manage risk using such as process analysis, data analysis, enhanced reporting, people leadership, compliance with changing regulatory requirements and an appreciation of technology required to achieve scale.
KEY DUTIES AND RESPONSIBILITIES:
Build and lead a India Control consultants focused on: Risk Identification & Assessment, Control Design & Evaluation, Issues & Control Deficiencies, and Control Governance & Reporting. Responsibilities include:
  • Lead implementation of a comprehensive RCSA program and global Operational Resiliency Framework in India and potentially APAC, including designing effective controls in partnership with business leaders; measuring control effectiveness; and providing control implementation support and control validation
  • Oversee on-going monitoring and Independent verification and testing of controls, products, BCP using BU data to ensure that business’ risk exposure stays within its Risk Appetite.
  • Ensure oversight and accuracy of Business Continuity Planning (BCP), Disaster Recovery (DR) and Third Party Oversight plans advising the business on crafting fit for purpose Exit Strategies and instituting robust Incident Management and Escalation policy, processes and procedures.
  • Enhance control design through technology, automation, machine learning to reduce manual controls and enable preventative risk mitigation.
  • Participates in regional Product Risk, Operational Reviews and new business initiatives to assess risk and advise management on solutions to mitigate it when outside of business risk appetite.
  • Lead the team through the continued implementation of the NT operational risk framework in India and potentially APAC with a focus on the identification of Key Performance Indicators to provide ongoing monitoring of control performance.
  • Partner with the NTAM Global Head of Controls and leverage industry best practices to design control testing framework and approach leveraging statistically driven approaches where appropriate to lend credibility to the test results.
  • Partner effectively with business, risk, audit, legal, compliance, regulators and technology control functions to drive consistent and rigorous operational risk practices and control programs.
  • Serve as the primary liaison for Risk, Audit and Regulatory reviews for jurisdictions under their remit. Advise business on regulatory exams, audits, action plans, regulator responses, leveraging a proactive approach to ensure satisfactory resolution.
  • Drive adoption of technology within the control organization.
  • Manage the risk and control, BCP, DR, and Exit Strategy inventory ensuring all the documentation is maintained in the enterprise repository for the jurisdictions under their remit.
  • Oversee accurate, timely and comprehensive reporting of controls effectiveness and compliance, remediation efforts to Management, 2LOD and 3LOD, Board, Regulators, and impacted business units, as applicable.
  • Ensure timely escalation and reporting of control deficiencies, incidents, breaches, and losses due to control failure.
  • Champion and reinforce a culture of good compliance and risk awareness by providing on-going feedback, training, conducting educational sessions with the business and the control team.
  • Hire and motivate consultants and support the Global head to reduce financial losses, regulatory exposure and reputational risk.
KNOWLEDGE AND SKILLS
  • Solid knowledge of Operational and Enterprise Risk Management (ERM) adept at and with a proven track record of working across multiple areas of businesses and functions.
  • Proven and decisive leader that can execute and lead across a highly matrixed agile organization.
  • Experience managing and developing a team with excellent motivation and team building skills, including the ability to recruit, develop and retain staff.
  • Knowledge of ERM trends and statistical techniques for operational risk management.
  • Strong consultative, process diagnostic and problem solving skills with the ability to rapidly understand the business context, process and synthesize large amounts of data to identify and advise the business on risk mitigation or issue resolution.
  • Strong influencing, facilitation and consensus building skills across the organization levels.
  • Ability to roll up the sleeves to assess risk, identify and communicate solutions, and drive change.
  • Dynamic relationship building and partnership skills; a strong collaborator with experience leading initiatives across multiple groups and stakeholders
  • Outstanding communication and influencing skills, both written and verbal, with demonstrated ability to develop materials and effectively present to and persuade executive, Risk and Audit audiences and regulators.
  • Flexibility and ability to rapidly adapt to change and shifting business priorities
  • Experience in adopting digital and automation-driven transformation to achieve robust “controls at scale”
  • Global outlook with sensitivity and awareness of social and cultural differences
  • Strong situational awareness and decision making capabilities
EXPERIENCE AND EDUCATION
  • Bachelor’s degree or equivalent experience
  • 15+ years in financial services, consulting, operational risk management or audit with a demonstrated track record of operational risk management. Experience in Asset Management is preferred.
  • Demonstrated leadership experience in successfully building and managing business governance for a sizeable global investment manager or business unit of a leading financial institution with a track record of influencing executive audiences to adopt new behaviors and drive change.
  • Demonstrated success in the strategic development of policies, procedures and assessment of internal controls.
  • Demonstrated ability to take industry trends, innovative behaviors, data analytics, and automation to drive a proactive and anticipatory approach to all risk management and control design.
  • Demonstrated success building a team-oriented, “best in class” governance organization.
  • Strong process diagnostic and project management skills; Six Sigma certification preferred.

Working with Us:
Working at Northern Trust goes far beyond just having a job. We encourage our partners to bring their full self to the workplace. Learning how your interests and experience could continue to grow with our longstanding and trusted business is important to us. In return, we will support you with your personal and career goals in a number of ways:
Financial – Life Assurance, Disability Plan, Pension/ Gratuity, Annual Pay Review
Work Life Balance – Flexible Work Options, Incremental Annual Leave, Community Volunteer Days
Professional Development – Clear Career Path, Education Assistance, Recognition Programme, NT University (wide range of online, virtual & in-house training options) and employee-led Business Resource Councils dedicated to diversity and inclusion initiatives.
Health & Wellbeing – Private Medical Insurance, Active Sports & Social clubs (lunchtime and after-work groups), Employee Assistance Program
And Finally
We hope you’re excited about this new opportunity to develop your career with us.
We value a diverse and inclusive workplace and believe together we can achieve greater.
Grow your career and apply today!
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Deadline: 20-06-2024

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