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.
Job Title:Senior Consultant, Risk Appetite and Stress Testing Specialist
Job Summary:
The Risk Appetite and Stress Testing Specialist will support the Risk Appetite and Measurement Director in the development, maintenance and implementation of (i) the Stress Testing and (ii) Risk Appetite policies.
Risk Appetite: The ideal candidate will have demonstrated industry experience in the development of risk appetite statments, including the identification of good quality risk appetite metrics across both financial and non financial risks. Also, experience in thresholds/ limits calibration at global, markets and line of business levels
Stress Testing: The ideal candidate will be experienced in scenario analysis and stress testing, including risk management, with proven stakeholder management skills, as there will be a need to coordinate across multiple stakeholders in the 1st and 2nd LoD. Also, experience working at a large-scale financial services organization, and a demonstrated ability to oversee such functions and effectively collaborate with senior stakeholders.
Key Responsibility
- Support the facilitation of workshops for the development of risk appetite statements and metrics
-Provide guidance to the 1st and 2nd line to drive enhancement in the definition, escalation, and reporting of risk appetites and metrics, with a focus on increasing forward-looking measures and stress quantification
- Support the 1st line lo embed awareness and management of the appetite and tolerances across the organization
- Support the Risk Appetite and Measurement Director with the regular refresh of risk appetites and metrics, with a critical eye on industry best practices and evolving regulatory requirements and expectations
- Work with the Data and Technology teams to support in the collation of metrics data so that thresholds/ limits can be calibrated
-Support stress testing program managers in the development of scenarios and stress testing programs
- Develop and maintain an inventory of stress testing programs as well as enterprise scenario library, including regulatory guidance applicable for each stress test, current pipeline of activities, and stress test analysis summaries/results.
- Prepare periodic activity reporting for senior management, including a summary of enterprise stress testing activities.
- Support the Risk Appetite and Measurement Director in the facilitation of discussions across Northern Trust stakeholders in order to establish linkage of the stress testing results with other risk management processes, such as risk appetite and risk identification
Experience and Qualifications
- Demonstrated industry experience in risk management and specifically risk appetite and scenario analysis and stress testing
- Knowledge of risk management and strategic goals for the bank's business.
- Knowledge of regulations, federal, state, and local laws and regulations acquired through formal education and work experience is a plus.
- Seasoned multi-disciplinary expert with extensive technical, digital and / or business knowledge and functional expertise in risk avoidance and compliance.
- Knowledge of regulatory capital requirements is a plus.
Skills
- Works effectively as a team member but also independently
- Excellent analytical and problem solving skills with attention to detail
- Strong communication skills both written and verbal proven experience in interfacing comfortably across multiple stakeholders
- Reporting skills with an ability to analyze and summarize information.
- Communication and analytical skills are necessary to consult with partners/clients, and analyze information and apply regulations.
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.