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.
Role:
The Audit Specialist is a subject matter expert in Compliance and Privacy (including GDPR and BCR rules) that:
* has a strong technical understanding of products (Asset Management, Asset Servicing and Capital Markets), services or regulations in the financial services industry;
* has experience in Conduct regulations;
* has experience shaping Audit Universes and assessing auditable entities both inherent and residual risks.
In addition to this, the Audit Specialist will be required to participate in global audit engagements, which will include planning; reviewing and challenging the project’s scope; reviewing and providing guidance to the audit teams on testing and drafting and reviewing audit reports and board materials to ensure actionable information is provided to senior management and boards that highlights the risks in the Specialist's area(s) of expertise, and to ensure reports meet audit requirements and departmental standards.
The role is a direct report to an Audit Director and is responsible for assisting in the recruiting, retention and development process for the audit team. The Audit Specialist provides input to improve operational efficiency and/or to enhance the design or operating effectiveness of Northern Trust’s internal control environment.
The key responsibilities of the role include:
* Providing strategic thought leadership in designing an audit coverage strategy over all aspects of the Specialist's area(s) of expertise (mainly Conduct and Privacy regulations);
* Drafting board reporting, both at the legal entity and corporate levels, to provide insight to board members on the key risks and themes identified by the Audit Team;
* Interacting with global regulators to articulate Audit’s view, and ongoing coverage and assessment of business processes and activities, mainly focusing on Conduct and Privacy;
* Functioning in various roles on audit engagements, including subject matter expert or providing consulting or oversight functions based on the needs of the team;
* Providing technical expertise to the Audit Team and using sound audit practices;
* Maintaining familiarization and technical expertise with the assigned business unit(s) including organizational structure, personnel, activities and products, new product development, financial performance and risk and problem areas;
* Monitoring regulatory updates and providing the team with guidance on the impact of changes in the regulatory environment and how to adjust the audit plan and coverage to support;
* Interacting, partnering, and presenting to Senior and Executive Management to understand the risks within the business, business changes and other significant events that could significantly affect the business and/or the audit plan;
* Managing and performing special projects as assigned;
* Participating in meetings with business units, Senior, and Executive Management to discuss audit results;
* Communicating with partners at all levels, developing and presenting recommendations on operations and controls for the business unit;
* Utilizing understanding of various Corporate units to ensure operations, services, and systems have proper audit controls in place (i.e., design of the control environment);
* Evaluating corporate management, business processes, business controls and operating practices during audits and consulting/monitoring engagements;
* Applying analytical skills to review information and determine potential control weaknesses;
* Developing the audit team's technical understanding;
* Representing Audit Services or Steering Committees and/or Working Groups;
* Driving and supporting change in the Audit Services team in line with the vision and strategy.
Skills/ Qualifications:
The successful candidate will benefit from having:
* Knowledge of auditing in the financial services industry and basic accounting principles and related work experience;
* Experience of Conduct regulations in EMEA, APAC and the US as well as a general understanding of the Privacy regulatory requirements (EMEA mainly);
* A College or University degree, auditing and/or systems experience in a financial institution or similar public accounting experience in the financial services industry is preferred;
* Professional certifications (e.g., CPA, CISA, CIA, ACA, ACCA) and/or an MBA along with demonstrated technical abilities in select areas (e.g., accounting, regulatory compliance, etc.) are preferred;
* Thorough understanding of project management principles in relation to people, systems and processes, to provide value quickly and enable change;
* Interest and aptitude for identifying problems of varying complexity and developing sound and actionable solutions within given constraints;
* Analytical and organizational skills are necessary to conduct audits;
* Strong report writing;
* Excellent verbal and written communication skills;
* Previous internal audit management experience is preferred;
* Leadership and organizational skills are required to determine the Business Unit's goals, resources needed, and to assess and develop the skills of staff.
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