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Specialist, Compliance - Northern Trust International Banking Corp.

📁
Risk Management/Compliance
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74151 Requisition #
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Detailed expectations:

RECO expectations
• Perform/collaborate on detailed applicability analysis of regulations to TNTIBC
• Identify gaps in coverage of regulations for TNTIBC (liaising with compliance partners) and oversee remediation as appropriate
• Maintain the Map of Rules for TNTIBC (in collaboration with compliance partners)
• Implement and execute CRA methodology for TNTIBC (liasing with applicable practices)
• Identify gaps in coverage of controls for TNTIBC (liaising with compliance partners) and oversee remediation as appropriate
• Provide credible challenge to results of CRAs (e.g., risk ratings, controls, etc.), review action plans resulting from CRAs, and ensure timely completion of action plans
• Build and implement a monitoring program for TNTIBC, in line with the Corporate framework/standards
• Provide review and credible challenge of action plans resulting from Monitoring and/or GCT testing and validate implementation
• Implement Corporate Compliance reporting standards and ensure timely completion of Compliance reporting for TNTIBC (liaising with compliance partner(s) as appropriate.
• Implement Issue escalation practices for TNTIBC, in line with the Corporate framework/standards; design and implement specific processes as necessary
• Consult on identified issues and proposed remediation actions.  Provide credible challenge and validation of issues and corrective actions identified within TNTIBC (in collaboration with compliance partners).
• Define standards for TNTIBC-specific compliance training needs in collaboration with global practice partners (e.g., training requirements specific to certain job functions, products, or services)

MLRO expectations:
• Monitor and coordinate day-to-day AML compliance with the Program and Policy
• Review Northern Trust’s AML policies and procedures and work with line of business to assure that they are implemented in the legal entity
• Be familiar with the ways in which their businesses’ products and services may be abused by money launders and those financing terrorism
• Assist their respective businesses to assess the ways in which products under development may be abused by money launderers and those financing terrorism in order to establish appropriate AML controls before a product is rolled out into the marketplace
• Prepare the legal entity AML risk assessment and economic sanctions risk assessment
• Review Suspicious Activity/Transaction Reports filed on behalf of the legal entity and determine responsive actions
• Provide guidance to TNTIBC partners regarding AML-related issues and questions
• Serve as the primary point of contact with local regulators for TNTIBC
• Provide periodic updates of the AML program to the legal entity Board of Directors
• Escalate significant or material issues (e.g. enforcement actions)to local risk committees, AMLOC, or legal entity Board of Directors as applicable
• Participate in the various councils and user/working groups under AMLOC (e.g., AML Risk and Policy)
 

Knowledge/Skills
 

  • Bachelors Degree
  • ACAMS certification
  • 7-10 years of Compliance/Risk Management/Regulatory experience
  • Proven & demonstrated background working in a Senior role within financial services with a broad understanding of regulatory compliance
  • Strong critical thinking and problem-solving skills
  • Strong interpersonal skills with the ability to establish credibility and foster excellent working relationships with internal and external stakeholders
  • Strong communication skills
  • Sound project management capabilities
  • Experience working for or directly with one or more regulatory agencies (e.g., Federal  Reserve, FCA, PRA, CFPB, SEC, CFTC) is highly desirable.

 

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 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

 

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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.

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      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.

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