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Sr. Consultant - Control Analyst, Alternative Fund Services Control

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Client Services
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76883 Requisition #
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Job Description: 

Northern Trust Alternative Fund & Omnium Business Services is seeking a risk management control professional to work closely with our business units’ leadership as well as corporate risk management, compliance, internal audit, and external audit firms.  The control professional will devise a program to track, monitor and test the implementation & effectiveness of controls derived from a number of sources (legal, audit, risk management, compliance, business oversight, business operations, regulatory bodies, etc.) and communicate results and recommendations to various stakeholders for dissemination to the appropriate areas of management.  

The successful candidate will be a seasoned and autonomous self-starter who will develop strong collaborative relationships with senior managers across a variety of functions.  The position will report to the AFS Control Manager.

Major Duties and Responsibilities:

  1. At the direction of the AFS Control Manager, with input from risk and compliance,  conduct proactive assessments and periodic testing of internal processes, procedures, and client specific servicing deliverables to a) ensure compliance with SLA’s, corporate policies, organization standards and regulatory requirements and b) ensure proper/effective controls are in place 
  2. Applies analytical skills to review processes and ensure proper preventative and detective controls are in place for business functions and prepares recommendations to strengthen identified control weaknesses.
  3. Escalate risk and control related matters for the entire department to the AFS Control Manager, HFS Risk Consultant and HFS Compliance Manager, as appropriate.
  4. Oversee the status of action items resulting from for all audits and regulatory examinations to ensure timely implementation. 
  5. Responsible for testing the efficacy of the action items with the business units to ensure ongoing compliance. 
  6. Collaborate with the business units to further enhance control environment 
  7. Produce independent risk and control reporting which will include (but not limited to) – statistics on mandatory training, meeting attendance & action items, remediation of the status of audit / compliance / regulatory issues, status of strategic change and impact to operational model and controls, etc. This will include ongoing communication of test results, related reporting & any recommendations/enhancements to AFS Control Manger, HFS Risk Consultant, and HFS Compliance Manager for additional consideration or appropriate escalation. Testing results will also be presented at monthly AFS Risk Management Council as appropriate.
  8. Collaborate with HFS Compliance Manager to ensure regulations and enforcement actions applicable to the business are communicated to AFS management and taken into account when considering control environment enhancements and related monitoring activities. HFS Compliance Manager will also provide direction regarding necessary assessments and testing. 
  9. Collaborate with Centralized HFS Accounting Policy team to ensure new accounting guidance is being implemented or escalated for further assessment.
  10. Participate in monthly reviews with Financial Control to highlight items for further investigation or escalation.
Minimum Qualifications (Education, Experience, Skills):

  • At least 5 years of experience in risk management, control or internal audit (or similar work experience).  Public account firm experience desirable and/or prior work with SOC1 or similar projects
  • Understanding of risk and controls, basic understanding of IT general controls a plus.  The applicant must be able to apply these to ‘real-life’ scenarios
  • Ability to work independently and self-motivated as well as effectively manage projects (e.g., define and manage scope, milestones, deliverables)
  • Detail oriented and critical thinker
  • Ability to work with individuals from all levels of the organization
  • Excellent communication and organizational ability
  • MS Office proficient
  • Financial Services experience in the asset management sector (e.g. fund administration, capital markets) preferred
  • CPA, CIA or MBA preferred

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
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    • 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.

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