Specialist Control Capital Markets

$120,000 - $140,000 yearly
  • The Resume Review - Recruiting Department
  • Chicago, IL, USA
  • Jul 15, 2021
Full time Accounting Finance

Job Description

Job description
The Control Specialist is responsible for providing support and oversight of the operational control environment for a business practice area.  This position specifically will support this company’s Capital Markets business. The ideal candidate must consistently identify risk, articulate the risk, and propose solutions to address risk to the practice area control manager and the control leadership team.  The Specialist consistently displays a balanced, cross-functional perspective, collaborating with the business, Control, and relevant to this company’s counterparts (e.g., Risk, Legal, Compliance, Audit, etc.) to improve efficiency, effectiveness, and productivity. 
 
Objectives:
•    Advise and assist control leadership on implementing the control framework and ensure adherence to maintaining the control processes in accordance with the highest standards and best practices.
•    Conduct process Risk Assessments for your practice area(s).  Ensure proper preventative and detective controls are in place for the practice functions assessed and prepare recommendations to strengthen control weaknesses.
•    Action the risk-based control test plan to identify excessive risk and/or control issues at an early stage.  Report process test findings to control management, (via the agreed Control Testing report template). 
•    Support manager with planning and execution of the thematic reviews required to provide assurance to business leadership of control effectiveness surrounding internal processes, procedures, and client specific servicing deliverables. 
•    Support the facilitation of SOC testing as needed in collaboration with the Controller’s group and the process owners. 
•    Ensure that current policies and procedures are in place for relative practice area(s).  Confirm that procedures are in compliance with organizational standards and regulatory requirements.  Assists in the communication and implementation of corporate policies within the business unit.
•    Communicate findings and enhancement recommendations (verbally and in writing) with control management.  
•    Serve as the liaison for audit and regulatory reviews of the business, as well as risk-related initiatives.  Conduct a validation of previously identified control gaps in line with the CIS Audit Remediation Standards, to ensure the gaps have been closed holistically, and as agreed for audit and regulatory issues.  
•    Foster and promote Northern Trust’s commitment to a strong risk management culture by developing a control mindset within the business.

Qualifications: Qualifications:
•    Bachelor's degree required
•    Possess a working knowledge of Capital Markets activities (e.g., Foreign Exchange, Securities Lending, Brokerage and Transitions Management) and related global regulatory environments
•    Understanding of complex financial instruments such as derivatives, foreign exchange desks and brokerage
•    7+ years of financial services experience in operations, risk management, or business transformation
•    Proficient knowledge of control and risk management concepts with the ability to design, create and evaluate risk & control environments in conjunction with business partners.