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APAC Compliance Testing Manager (VP level)

📁
Risk Management/Compliance
📅
72167 Requisition #
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About Northern Trust

 

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

 

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

 

As of September 30, 2018, Northern Trust Corporation had:


$10.8 trillion in assets under custody/administration

$8.2 trillion in assets under custody

$1.2 trillion in assets under management

$132 billion in banking assets 

 

 

Responsibilities


Global Compliance Testing (GCT) forms part of Global Compliance and Corporate Risk function and is entrusted with testing Northern Trust’s compliance with its regulatory obligations in the locations we operate.  The GCT function works closely with in-country and subject matter compliance, ensuring appropriate and consistent application of the GCT program.  


As part of the Asia Pacific compliance team, this role is tasked with the execution and active management of independent testing reviews for the APAC region, ensuring targeted testing of regulatory obligations.  GCT operates in the second line of defence and assists in the evaluation and implementation of the Northern Trust Compliance model.  The Compliance function is responsible for ongoing oversight and reporting regarding regulatory obligations to senior compliance and business management. 


This role will report to the APAC Head of Compliance and AML. 

 

  • Overall responsibility for the APAC GCT program for financial services regulated entities within the APAC region, ensuring targeted testing of compliance with regulatory obligations, with input from local and subject matter compliance partner
  • Develop and implement an independent APAC GCT program in coordination with the global GCT team and regional compliance functions
  • Determine the annual APAC GCT plan, including the scheduling, scope and test steps of each review, considering both global and regional requirements as well as local policies and regulations
  • Conduct and document GCT testing within the region and identify gaps or areas for control enhancement within the first and second lines of defense
  • Validate and summarize testing results in clear, concise language
  • Communicate results to business management and escalate key risks in a timely manner
  • Track issues identified and conduct risk-based testing of solutions implemented
  • Manage a single contributor who will assist with all aspects of the APAC GCT program, ensuring proper quality of work as well as professional and personal development
  • Partner with Audit senior management, business partners and relevant compliance functions to coordinate GCT testing
  • Develop strong relationships with Business Units
  • On an ad hoc basis, advise senior management and business partners on applicable laws, regulations, rules, standards and best practices which may impact their business
  • Provide leadership to Manila Compliance and Risk teams
  • Maintain regular connectivity with global and regional GCT teams
  • Work in partnership with the wider Compliance, Risk and Controls teams
  • Produce and analyze GCT reports and data for internal committees and boards
  • Prefer knowledge of Custody, Asset Servicing, FX, Fund Administration, Brokerage businesses as well as corporate governance such as outsourcing and bank secrecy requirements. 
  • Lead projects and increase understanding of project management methodologies

 

 

Knowledge/Skills:

 

  • College or University Bachelor's Degree
  • Fluent in English and ability to communicate in a clear, concise and effective manner (verbal and written)
  • Proven experience related to monitoring/testing experience including operational risk expertise
  • General knowledge of bank compliance regulations is required; knowledge of specific topics such as payments, market abuse, privacy, AML, ABC, Sanctions, fraud is a plus
    Understanding of APAC regional regulations (e.g., MAS, SFC, JFSA, APRA, ASIC, Korean FSC / FSS, CBIRC / PBOC) and relevant laws
  • Ability to make independent decisions and also to be a team player and effective communicator to ensure that issues are appropriately resolved
  • Confidence and expertise to advise management and the business
  • Experience providing compliance advisory and operational support
  • Ability to use initiative and work unsupervised in a proactive manner
  • Strong organizational skills, a collaborative approach to work, with strong interpersonal skills
  • Ability to deal effectively with multiple competing deadlines
  • Attention to detail

Experience
  • 7-10 years of related experience; management experience is a plus

Work Schedule    

  • 8AM - 5PM M-F

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Reasonable Accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), +630-276-5353 (Asia Pacific), +44(0)207 982 4357 (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

Equal Employment Opportunity Statements
  • APAC EEO Statement
    • APAC EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • Canada EEO Statement
    • Canada EEO STATEMENT

      Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

  • EMEA EEO Statement
    • EMEA EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • USA EEO Statement
    • USA EEO STATEMENT

      It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO poster (U.S.)EEO is Law Poster Supplement