About Northern Trust:
Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
As a Northern Trust employee (Partner), you will 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.
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you would benefit from adjustments for any part of the employment process, please inform the recruiter to discuss your individual requirements.
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 in 2018.
In early 2019, Northern Trust established a European Bank, Northern Trust Global Services SE (NTGS SE), headquartered in Luxembourg to service Northern Trust’s rapidly growing Continental European client base. In addition to the headquarters, NTGS SE has branches throughout Continental Europe, and in a number of other non-EU locations.
This role is for Enterprise Risk Specialist for Northern Trust Global Services SE (NTGS). This role will report into the Head of Risk and will work in partnership with Global & EMEA Corporate Risk & Finance, but also with the Business in Luxembourg and NTGS SE foreign branches.
The key responsibilities of the role include:
1. The implementation and monitoring of the entire Supervisory Review and Evaluation Process (SREP):
- Drafting of the NTGS IC/LAAP report with quarterly update of Pillar 2 capital requirements, under the CRD V and the circular CSSF 07/301 (as amended);
- Running and maintaining the NTGS Stress Testing Programme under the CRD V and the circular CSSF 11/506 (as amended);
- Follow-up of the supervisory / regulatory recommendations e.g. following on-site visits and off-site monitoring related or not to the SREP process;
- Drafting the recovery plan of NTGS under the BRRD (notably in compliance with the circular CSSF 22/808);
- Contribution to the establishment of the resolution plan of NTGS under the BRRD, in close collaboration with the CSSF.
2. Establishment of the NTGS climate risk framework in compliance with the circular CSSF 21/773.
3. Regulatory watch (which includes only in French CSSF circulars) in coordination with the EMEA Capital team and Compliance team, related to the Bank's risk management.
4. Oversight and risk drafting of other prudential reports: Pillar III, Long-Form Report, Contingency Funding Plan under prevailing CSSF circulars.
5. Oversight and review of all risk policies (credit, liquidity & investment, FX & trading…) and drafting and maintenance of complementary local policies (notably the model review policy).
6. Production and presentation of internal reports to NTGS / EMEA governing bodies (Management Risk Committee, ExCo, Board Risk Committee, Board, ERC…) / Senior Management on prudential risk and compliance.
7. Handling of requests from supervisors (Federal Reserve Bank of Chicago, ECB, CSSF, BCL, National Competent Authorities of the foreign branches).
8. Participation to specific programmes and projects.
9. Follow-up of External / Internal Audit recommendations related to prudential matters.
10. Follow-up of Global & EMEA Corporate Risk & Finance requests related to prudential matters.
The successful candidate will benefit from having:
- Master's Degree in economics or finance (helpful), any certification (FRM/CFA) would be an additional benefit.
- Banking experience of minimum 7 years, a direct exposure to the Asset Servicing, Fund Administration and Custody / Depositary services business segments in Luxembourg would be an additional benefit.
- Risk Management experience of minimum 7 years with proven track record of managing prudential matters: SREP, IC/ILAAP, Recovery, Resolution…
- Strong understanding of the local regulatory environment and a sound knowledge of the circular CSSF 12/552 (as amended).
- Solid written and verbal communication competences in English and French including the ability to develop sustainable working relationships within a diverse and international working environment and to inspire trust to the Senior Management and others business contacts.
- Excellent team player, empathetic attitude.
Working with Us:
We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and ethical companies. 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
Health & Wellbeing – Active Sports & Social clubs (lunchtime and after-work groups), Employee Assistance Program
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.
We hope you’re excited about the role and the opportunity to work with us.
We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.