Sr. Associate Consultant, BU Control at Northern Trust (Chicago, IL)
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.
Mitigate AML risk, meet industry standards and practices, and comply with AML regulations. This role will help minimize Northern Trust's money laundering risk by validating regulatory and internal compliance with AML laws, rules, regulations, programs, policies, procedures, and minimum standards. Executes quality control reviews of AML-related activities to assess the level of adherence to policies and procedures by the first and second lines of defense. Ensures timely and accurate reviews for all new Wealth Management accounts . Carries out operational activities with regulatory compliance impact. Uses specific knowledge of AML to achieve goals through own work. Has specific knowledge or expertise typically gained through formal education or equivalent experience. Uses expertise to provide guidance to others. Requires conceptual knowledge of theories, practices, and procedures within Compliance AML. Performs daily assignments using existing procedures. Receives instruction, guidance and direction from manager and compliance.
The key responsibilities of the Sr. Associate Consultant, BU Control include:
• Reviews client files for conformance with applicable AML policies, procedures and regulatory requirements for new Wealth Management account openings and works with front office teams to facilitate queries.
• Provides support and functional knowledge as it relates to compliance with applicable AML laws, rules and standards
• Identifies and escalates to Global AML management any regulatory compliance risks associated with the file reviews completed
• Carries out business-related activities that may be required to support Global AML Compliance guidelines
• Provides support as requested by Global AML Management as necessary to resolve compliance issues, including actions in response to Regulatory exam and Audit findings
• Uses existing procedures to solve standard problems; analyzes information and standard practices to make judgments
• Conducts and adequately documents testing to assess compliance with and adherence to regulations and policies/procedures.
• Applies analytical skills to review information and determine potential control weaknesses or exceptions to policies/processes.
• Summarizes and communicates testing results in clear, concise language.
The successful candidate will benefit from having:
- Requires Financial Institution Regulatory and Compliance knowledge including but not limited to AML, Customer Identification Program (CIP), Enhanced Due Diligence (EDD) and Know Your Customer (KYC) regulatory requirements and Economic Sanctions laws and regulations, usually acquired through formal education or experience, to review policies and procedures in order to ensure their adequacy and to monitor compliance.
- Ability to cross train junior members on adequate KYC requirements and tool navigation.
- Client Servicing and consulting skills to help address exceptions to front line partners
- Requires strong analytical, interpersonal, verbal and written communication skills to analyze, summarize and explain complex information in a straightforward manner. Asks questions and checks for understanding.
- Understands key business drivers for accomplishing successful performance
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 andapply today.#MadeForGreater
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 [email protected].
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.