Description

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/Department:

The Luxembourg based Risk Management function is part of the International Risk Management organisation and is responsible to oversee, assess and advise on financial risk management for NTGS SE (Northern Trust's European banking entity). Reporting to NTGS SE's Chief Risk Officer, the role will primarily focus on financial risks, including the maintenance of a robust financial risk framework (Risk Appetite Statement, Policies, Procedures) and the oversight of financial risk exposures, prudential ratios and other relevant metrics pertaining to credit, market and liquidity. The role will require engagement with business management as well as working together with NT risk functions in EMEA. The role will also collaborate with other members of the Risk Management function in the preparation of reports for the regulators, presentations for the Risk Management Committee and Board of Director's meetings.

Key responsibilities of the role :

• Maintain and further enhance NTGS Risk Management Framework (Risk Appetite Statement, Policies and Procedures covering Credit, Market and Liquidity Risk) vis-à-vis NT group standards and local regulatory requirements.
• Oversee Risk Appetite metrics and early warning indicators, liaising with 1LOD, challenging deviations and escalating breaches to the CRO as appropriate. Perform assessment of relevant RAS indicators, assessing Inherent Risk, Control Effectiveness and Residual Risks for Credit, Market and Liquidity Risk categories.
• Provide 2LOD input the design and assumptions used for stress testing in the ICAAP and ILAAP; assist in the preparation and review of the yearly Recovery Plan and Resolution Report.
• Prepare the Annual Risk Management Report for the CSSF, working together with other members of the Risk Management Function.
• Attend to the monthly Management Risk Committee, present summary of key indicators and regulatory updates as appropriate. Update dashboards and presentations required for the quarterly Board of Director's meeting.
• Work together with risk function in the EMEA on the oversight of outsourced risk controls within the group.
• Participate in NT initiatives and implementation of Risk Control Enhancement (RCE) program.
• Promote effective collaboration within the broader NTGS Risk Management Function and support its activities as required.
• Develop and maintain relationships with business functions (including branches) and business unit risk management teams to foster an environment for open dialogue, collaboration and to be a trusted advisor on financial risk matters.

Skills/Qualifications :

The successful candidate will benefit from having:

• Several years of experience in the financial risk management area in the banking or asset servicing industry in Luxembourg.
• In depth understanding of the regulatory requirements for banking institutions within the EU (CRD IV, CRR III) and CSSF circulars.
• Proven experience in risk governance, reporting and oversight, including presenting to and engaging with senior internal and external stakeholders.
• Self-motivated with the ability to operate independently or work as part of a team;
• Effective time management.
• Very good written skills with an ability to prepare succinct risk reporting;
• Well-developed verbal communication skills with an ability to effectively present and contribute in business meetings and risk forums.

Working with Us

As a Northern Trust 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 committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust's history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected] , or alternatively you can discuss your individual requirements with the recruiter you are working with.

About Our Luxembourg Office

In 2024, the Northern Trust Luxembourg office celebrated their 20th anniversary, an important chapter in their history. Having opened in 2004 to support one client, they have since grown their client base substantially and increased their headcount significantly, which now stands at over 400.

From modern fully equipped meeting rooms to a vast canteen with a view over a vegetable garden, maintained by our team all year round, and a rooftop where beehives have been installed, this space is truly a source of pride for our team. Learn more.