Swap Dealer Risk Management Unit Program Manager

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.

Swap Dealer Risk Management Unit Program Manager

This role would be responsible for the following: 

• Lead the Swap Dealer Risk Management program, including revising and uplifting the risk management framework, risk and control inventory and overall risk reporting.
• Lead the Swap Dealer Risk Management Program through changes due to new regulations and regulator priorities, including advising senior leadership of the same.
• Responsible for leading the update and review of all associated policies and procedures required by the SD RMP.
• Strong point of view on Risk Management Programs and ability to review and challenge risk owners across the program.
• Act as the SD RMP contact for the CFTC and NFA that includes inquiries, exams and audits.
• Act as the SD RMP contact for all internal inquiries including Audit, Global Compliance Testing, Compliance and Senior Management.
• Serve as Chair of the SD Risk Management Unit Committee (SD RMUC).
• Monitor, review and advise the SD RMP of proposed and final rules from the CFTC, SEC and NFA on Swap Dealer impacted instruments.
• Report and escalate, via the SD RMP to senior management, regulatory developments, progress on regulatory initiatives, issues, violations or other matters of interest.
• Manage Swap Dealer related requirements involving other Committees (i.e. SMC, SD Compliance Committee).
• Co-ordinate Risk Management Units when putting together the Quarterly Risk Exposure Reports and Annual SD RMP review.
• Consolidate Swap Dealer Quarterly Risk Exposure Reports and circulate amongst the SD RMP attendees prior to SD RMUC.
• Support key business initiatives, new products and material change from a Swap Dealer perspective, ensuring alignment with the Corporate Standards and Policies.
• Maintain the Swap Dealer SharePoint site and risk governance related documentation in alignment with CFTC recordkeeping requirements.   
• Act as subject matter expert for all matters relating to the SD RMP.

Additional Requirements:

• Seasoned multi-disciplinary expert with extensive technical and / or business knowledge and functional expertise in risk avoidance and compliance.
• Focus of role is on execution of strategic direction of business function activities.
• Carries out the most complex initiatives involving multiple disciplines and/or ambiguous issues
• Consistently displays a balanced, cross-functional perspective, liaising with the rest of the business to improve efficiency, effectiveness and productivity
• Highly flexible and adaptable to change.

Knowledge:

• Knowledge of risk management and strategic goals for the bank's business. In depth knowledge of regulations, federal, state, and local laws and regulations acquired through formal education and work experience is required.
• Communication and analytical skills are necessary to consult with partners/clients and analyze information and apply regulations.
• University / college degree with 10+ years of relevant professional experience, or equivalent combination of education, job-specific certifications and experience.
• Knowledge of Swap Dealer operations
• Understanding of the CFTC and NFA examination regulations and guidelines.
• Leadership qualities.
• Strong skill-set in Excel, Power BI, SharePoint ownership and development.
• Strong communication and interpersonal skills both written and oral; confident interacting with all levels of employees, including senior leadership. The candidate must feel comfortable providing challenge when needed.
• Strong organizational skills including effective co-ordination, issue tracking and the ability to produce documentation to a high quality.  Time management and working to deadlines is key.
• Strong work ethic and team player.

Salary Range:

$114,700 - 194,900 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 b