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For Companies At a Glance
- Tasks: Lead a team managing financial risk for asset servicing and capital markets.
- Company: Join Northern Trust, a Fortune 500 financial institution with over 130 years of experience.
- Benefits: Enjoy a flexible work culture, career growth opportunities, and a commitment to community service.
- Why this job: Be part of a respected company that values innovation, integrity, and collaboration.
- Qualifications: Experience in financial risk management and strategic thinking is essential.
- Other info: Northern Trust promotes inclusivity and offers reasonable accommodations for individuals with disabilities.
The predicted salary is between 72000 - 108000 £ per year.
Job Description
About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
About the role:
Responsible for managing the First Line of Defense (1LOD) Financial Risk considerations for the Asset Servicing (AS) Business Unit, with an initial focus on counterparty credit, stress testing, risk weighted assets (RWA) and other p/l and balance sheet related matters. The Head of 1LOD Financial Risk is responsible for managing a team of 5 Northern Trust partners based in London and Manila.
The key responsibilities of the role include;
- Leads 1LOD requirements in Financial Risk matters for the Asset Servicing Business Unit and the Capital Markets Business Segment in particular.
- Provides single point of contact for 2LOD for review/challenges, incidents, issues as well as input into limit setting and stress testing frameworks.
- Represents AS as 1LOD representative on key Credit Risk committees.
- Oversees 1LOD requirements for credit risk regulatory interpretation matters (e.g. RWA, SCCL) as well as production of quarterly RWA submissions.
- Develops and oversees execution of controls to ensure the integrity of NT's books and records (balance sheet and p/l) in relation to Capital Market activity.
- Provides 1LOD Financial risk oversight for Capital Markets brokerage legal entities (NTSI, NTS LLP, NTSA).
- Manages and develops team as well as reviewing resource needs to meet current or future business objectives.
Skills/Experience:
The successful candidate will benefit from having;
- Proven track record of critical and strategic thinking
- Several years' experience in financial risk (1LOD or 2LOD)
- Global management experience
- Counterparty credit risk and quantitative stress testing techniques.
- Product knowledge of either securities financing or foreign exchange.
- Additional knowledge of agency brokerage is preferred.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
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 sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com .
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.
Head of First Line of Defense Financial Risk - Northern Trust employer: Northern Trust
Contact Detail:
Northern Trust Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of First Line of Defense Financial Risk - Northern Trust
✨Tip Number 1
Familiarise yourself with Northern Trust's core values and principles. Understanding their commitment to service, expertise, and integrity will help you align your responses during interviews and discussions, showcasing that you're a good cultural fit.
✨Tip Number 2
Network with current or former employees of Northern Trust, especially those in financial risk roles. They can provide valuable insights into the company culture and expectations for the Head of 1LOD Financial Risk position.
✨Tip Number 3
Stay updated on the latest trends and regulations in financial risk management, particularly around counterparty credit risk and stress testing techniques. This knowledge will not only prepare you for potential interview questions but also demonstrate your proactive approach to the role.
✨Tip Number 4
Prepare to discuss your leadership style and experience managing teams. Since this role involves overseeing a team, showcasing your ability to develop talent and manage resources effectively will be crucial in the selection process.
We think you need these skills to ace Head of First Line of Defense Financial Risk - Northern Trust
Some tips for your application 🫡
Understand the Role: Thoroughly read the job description for the Head of First Line of Defense Financial Risk position. Make sure you understand the key responsibilities and required skills, such as experience in financial risk and counterparty credit.
Tailor Your CV: Customise your CV to highlight relevant experience and skills that align with the job requirements. Emphasise your track record in financial risk management and any global management experience you possess.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the company. Mention specific experiences that demonstrate your strategic thinking and ability to lead a team effectively.
Highlight Relevant Achievements: In both your CV and cover letter, include quantifiable achievements related to financial risk management, such as successful projects or improvements you've implemented in previous roles.
How to prepare for a job interview at Northern Trust
✨Understand the Role Thoroughly
Before your interview, make sure you have a solid grasp of the responsibilities and expectations for the Head of First Line of Defense Financial Risk. Familiarise yourself with key concepts like counterparty credit risk, stress testing, and risk weighted assets, as these will likely be central to your discussion.
✨Showcase Your Leadership Skills
As this role involves managing a team, be prepared to discuss your leadership style and experiences. Highlight specific examples where you've successfully led teams, managed conflicts, or developed talent, especially in a financial risk context.
✨Prepare for Technical Questions
Expect to face technical questions related to financial risk management. Brush up on quantitative stress testing techniques and regulatory interpretations relevant to credit risk. Being able to articulate your knowledge clearly will demonstrate your expertise.
✨Demonstrate Strategic Thinking
The role requires critical and strategic thinking. Be ready to discuss how you've approached complex problems in the past, particularly in financial risk scenarios. Use the STAR method (Situation, Task, Action, Result) to structure your responses effectively.
