Bank Governance Specialist

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.

We are recruiting for a Specialist to join our global Central Bank Governance group as an individual contributor.

The group performs oversight of Northern Trust’s central bank payment scheme memberships ensuring scheme rules and requirements are adhered to on an ongoing basis, including annual scheme membership assurance.

As a payment scheme expert, the successful candidate provides proactive leadership and guidance to strengthen controls, ensure compliance and mitigate operational risk.

This individual provides operational strategies to minimize risk and assure compliance with relevant legislation and obligations.

In addition, they will provide consultation and advice to partners regarding controls and regulatory considerations.

Working Model:
Hybrid We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Major Duties Oversight of Northern Trust’s adherence to applicable payment scheme rulebooks and access requirements, including the Nacha Operating Rules (ACH), The Clearing House CHIPS Rules and Administrative Procedures (CHIPS), Federal Reserve Operating Circulars applicable to Fedwire/FedACH, and Fed Line Solutions security requirements, and other schemes as required.

Serving as a subject area expert on payment scheme rules.

Ensure amended and new scheme rules & regulations are implemented into our processes and procedures in a timely manner, including the mapping and updating of regulatory rules.

Ensure that procedures are in place (and are being followed) to demonstrate & evidence payment scheme requirements.

Ensure robust preventative and detective controls are in place, well designed and operating effectively for business functions and drive recommendations to strengthen control.

Participating in and sharing lessons from the central bank working groups.

Contribute to review of incident reports to ensure true root cause and payment scheme impacts are understood, actioned and resolved.

Build and maintain relationships with different stakeholders including Control, Resiliency Office, Regulatory Oversight, Risk, Compliance and Audit, Act in capacity of facilitator for payment scheme audits and regulatory examinations where applicable.

Ability to manage and work with various MI and data sets; ensuring timely completion of MI and other ad-hoc reports as required.

#LI-GG1 #LI-Hybrid

The ideal candidate should have a fair amount of the following skills:
Payment scheme, operations or risk management experience, ideally from a bank / investment bank / custody bank background.

Strong critical thinking and attention to detail, with the ability to ‘go deep’ to understand processes, controls, and regulatory / scheme requirements.

Ability to systematically assess and challenge existing processes whilst managing multiple priorities and delivering to deadlines.

Data-driven mindset - uses MI and data to measure performance, manage risk, and…