Sr. Consultant - Taxonomies, Process, Risk and Control

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.

The Process, Risk, and Control (PRC) Taxonomy Senior Consultant is a key position within Northern Trust’s enterprise risk management function, charged with supporting the embedding and refining the PRC taxonomy across the lines of defense. This senior analyst role will collaborate extensively with both the 1st and 2nd line teams reporting to the PRC Director. The core responsibilities encompass supporting the development and maintenance of the PRC standards, furthering consistency and enhancing the quality of process and control documentation across risk domains, business units, and legal entities. This team will oversee the construction of the PRC Inventory and coordinate the definition of key controls, as well as maintain the associated technology capabilities. The PRC Taxonomy Senior Analyst supports oversight of the adherence to the aforementioned standards and is instrumental in fostering a culture of risk awareness through training and monitoring adherence across the lines of defense. 
 
The ideal candidate will have a background in enterprise risk management, including PRC taxonomy and processes (or other risk framework/risk management development and implementation experience), at a large-scale financial services organization, and a demonstrated ability to oversee such functions and effectively collaborate with stakeholders. 

The key responsibilities of the role include:

•    Support sustaining and embedding Process, Risk and Control Standard and Internal Control Standard across lines of defense through training and adherence monitoring. 
•    Drive consistency and quality of process and control documentation across risk domains, business units, and legal entities 
•    Maintain Process, Risk and Control taxonomy and the Process and Control Inventory technology capability. 
•    Keep abreast of industry trends, regulatory changes, and emerging risks to proactively identify potential threats and opportunities and evolve the risk management framework to align with changing business and regulatory practices. Ability to accurately identify, escalate, and drive actions to mitigate priority risks. 

The successful candidate will benefit from having:

• Direct risk management and/or framework experience at a large-scale financial services organization preferred, including enterprise risk management experience.
• Demonstrated knowledge and experience in designing, training, and monitoring enterprise PRC taxonomy and control identification practices, supporting effective implementation and sustainability.  
• Proven capability in high-quality execution, including both independent execution, as well as influencing cross-functional stakeholders to drive change
• Familiarity with ServiceNow or similar Governance Risk and Compliance tool, preferred.  
• Experience overseeing financial and/or non-financial risks, including interpreting and adhering to associated prudential expectations.

• Successful candidate will possess the following key skills: strategic thinking, conceptual thinking, logical thinking, stakeholder management, project management, change management, digital literacy, and PRC taxonomy and control identification.
• Strong communication skills, including verbal and written communications to senior leaders and committees.

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Salary Range:

$83,100 - 141,300 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 benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

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 e