AI Risk & Controls Lead

## AI Risk & Controls Lead Apply locations:
Chicago, ILtime type:
Full time posted on:
Posted Todayjob requisition :
R156584
** About Northern Trust
** As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.  Since 1889, we have aligned our efforts with our three guiding Principles That Endure:
Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.  With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

** Role Purpose
** The AI Risk & Controls Lead is responsible for establishing and ope rationalising
** first-line-of-defence (1

LOD) controls
** for AI across the enterprise.

This role ensures that AI solutions are
** designed, deployed, and managed in line with regulatory, risk, and audit expectations**, while enabling responsible innovation at scale.
** Key Responsibilities
**** AI Governance & Control Framework
*** Define and implement
** AI control frameworks
** aligned to enterprise risk standards
* Embed
** 1

LOD controls
** across AI lifecycle (design → build → deploy → monitor)
* Partner with Risk, Compliance, and Audit to ensure alignment with enterprise policies
** AI Model Management & Oversight
*** Oversee
** AI model inventory, classification, and lifecycle management
*** Define and enforce
** model governance standards** (documentation, approvals, controls)
* Ensure traceability of models, datasets, and decision logic
** Documentation & Regulatory Readiness
*** Own end-to-end
** AI documentation standards** (models, use cases, controls)
* Ensure readiness for
** internal audit, regulatory inspection, and model validation
*** Maintain
** audit-ready evidence repositories
**** Controls Monitoring & Reporting
*** Define and track
** AI control metrics, usage tracking, and compliance indicators
*** Monitor adherence to policies (ethical AI, data usage, model risk)
* Provide
** risk dashboards and reporting
** to leadership
** AI Risk & Audit Partnership
*** Act as primary
** 1

LOD interface with 2

LOD (Risk) and 3

LOD (Audit)
*** Support audits, reviews, and issue remediation
* Translate regulatory expectations into
** practical control execution
**** Enablement & Advisory
*** Advise AI delivery teams (CoPilot, Digital Co-Worker, ACE, etc.) on control requirements
* Embed controls into
** AI operating model and delivery pipelines
*** Drive awareness of responsible AI practices across teams
** Key Skills & Experience Required
*** Deep experience in:  +
** AI governance / AI audit / model risk management**  +
** Control design and operationalisation (1

LOD)**  + AI model lifecycle & documentation practices
* Experience with:  + Model inventories, usage tracking, and control frameworks  + Audit readiness and regulatory expectations
** Desirable
* ** Financial services / regulated environment experience
* Understanding of:  + AI/ML concepts (not necessarily data scientist level)  + Regulatory landscape (EU AI Act, SR 11-7, model risk frameworks)
** Success Measures*** % of AI use cases onboarded into governance framework
* Audit findings / control gaps reduction
* Time to evidence production for audit
* Coverage of AI model inventory & tracking
* Adoption of AI control standards across platforms

Salary Range:$137, USD
* Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
* ** Work Authorization
** Applicants must be authorized to work in the U.S. without the need for…