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Consultant, Business Unit Compliance

📁
Risk Management/Compliance
📅
76226 Requisition #
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Description

The Fund Governance Solutions group provides regulatory administration and compliance support services to assist clients in meeting the regulatory and compliance obligations associated with managing funds registered under the Investment Company Act of 1940, as amended (the “1940 Act”); collective investment trusts; and partnership vehicles. The group also provides compliance support to the Global Fund Services (“GFS”) business and is responsible for the oversight and testing of Northern Trust’s Rule 38a-1 Program for Registered Mutual Fund Clients.

Under general direction, the Consultant will be responsible for conducting and participating in compliance testing and oversight initiatives, assisting in the review and production of regulatory filings and reports, the review, production and maintenance of Board and committee materials and the administrative activities related to Board  and committee meeting support.

This position will support the post-trade compliance needs and testing of our Global Fund Services (GFS) clients; it will also support the compliance testing and other needs of the GFS business, including participating in the necessary testing and enhancement of Northern Trust’s Rule 38a-1 Program, and providing compliance, governance and Board support for GFS clients.  

The consultant will interact closely with partners and management at all levels across the organization, but primarily in GFS.  The role provides an opportunity for significant client interaction.    

Primary Responsibilities

  • Act as a point of contact for clients and Partners with respect to the post-trade compliance monitoring of GFS-client portfolios.  This will include:
    • Daily compliance support of 1940 Act and CIT Fund clients, including reviewing and analyzing automated monitoring and performing manual tests;
    • Understanding SEC and IRS rules;
    • Assisting in the development of compliance tests both on- and off-line;
    • Maintaining appropriate documentation and files; and 
    • Providing internal and external audit support.

  • Participate in the quarterly and annual testing of Northern’s Rule 38a-1 Program, ensuring that the testing is performed according to standards and delivered to clients accurately and in a timely manner.
  • Prepare Board and Senior Management reporting, including being able present and communicate large volumes of information effectively and being able to respond to questions regarding the material.
  • Assist with review and production of materials for Board, Committee, and client meetings. 
  • Finalize arrangements for Board meetings which may include:  making transportation arrangements, planning meals, arranging technology, and providing digital or paper copies as needed.

  • Assist with review and execution of regulatory filings and reporting.

  • Update and maintain Board and regulatory calendars and responsibility matrices.

  • Perform research on issues regarding the Investment Company Act of 1940, as amended, and other fund and client regulatory obligations as needed.

  • Participate in new business situations, including the review and analysis of needs and the design of solutions.

Required Knowledge/Skills

  • Excellent organizational and project management skills are required.

  • Excellent written and verbal communication skills are required.

  • Analytical and problem-solving skills are required.

  • Ability to work independently and part of collaborative groups is required.

  • Ability to interact appropriately and to establish good working relationships with clients and management of all levels is required.

  • Ability to work under pressure, to prioritize competing tasks that require the highest level of attention to detail, and to meet daily deadlines is required.

  • Solid working knowledge of Excel and investment systems is required to analyze data and generate client reports.

  • Working knowledge of security types and investments is required.

  • Ability to work independently to learn regulations is required upon hire.

Preferred Knowledge/Skills

  • Knowledge of mutual fund operations.

  • Familiarity with post-trade compliance processes and systems, especially Charles River.

  • Knowledge of the Investment Company Act of 1940, as amended.  


Qualifications

  • Minimum of 3 years of professional experience required.

  • Bachelor’s degree required; advanced degree of proven business acumen preferred.

  • Ability to apply laws and regulations to practices within asset management and assist in the development of clear policies and procedures designed to assure compliance is required.

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 18,500 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 March 31,2019, Northern Trust Corporation had:

$10.9 trillion in assets under custody/administration
$8.2 trillion in assets under custody
$1.2 trillion in assets under management
$122 billion in banking assets 

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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