Business Unit Control

Description:

Northern Trust, a globally recognized Fortune 500 financial institution with over 130 years of experience, is seeking a highly skilled Specialist, Business Unit Control to join its team in Chicago, Illinois. This role is integral to ensuring the operational control environment across designated practice areas is effectively managed, risks are identified early, and processes are enhanced to meet the highest standards of compliance, risk management, and efficiency.

The Specialist will independently provide expertise, guidance, and leadership to the business units, collaborating cross-functionally with Risk, Legal, Compliance, Audit, and other stakeholders. The role involves conducting risk assessments, supporting regulatory attestations, executing thematic reviews, and contributing to control framework improvements.

This position offers a balanced hybrid working model, combining both office and remote flexibility, while providing exposure to senior leadership and opportunities for organizational mobility.

Key Responsibilities:

• Advise and support business units in implementing and maintaining robust control frameworks.

• Conduct risk assessments, identify weaknesses, and recommend preventive and detective control measures.

• Support the execution of risk-based control test plans and report findings to control management.

• Assist in planning and delivering thematic reviews to assure control effectiveness in processes and client servicing.

• Participate in key control programs, including Audit Remediation, Asset Servicing Loss mitigation, Asset Transfer Policy Standards, Resolution Planning, and Regulatory attestations.

• Ensure compliance with corporate policies and regulatory standards; assist in policy communication and implementation.

• Communicate findings and improvement recommendations effectively, both verbally and in writing.

• Foster a strong risk management culture and promote a control mindset within the organization.

Candidate Requirements:

• College or University degree preferred.

• Minimum 10 years of Risk & Control experience in financial services.

• Extensive knowledge of regulatory assessments, risk management practices, and industry standards.

• Ability to collaborate with senior leadership and manage complex discussions.

• Strong communication skills (verbal and written) with keen attention to detail.

Benefits:

• Competitive base salary ($114,700 – $194,900 USD annually)

• Comprehensive benefits package: 401(k), pension, medical, dental, vision, disability, life & accident insurance

• Paid time off, parental and caregiver leave

• Discretionary bonus program with potential equity component

• Flexible and collaborative work culture with opportunities for internal mobility

About Northern Trust:

Northern Trust is a leading financial institution providing innovative services to individuals, families, and institutions worldwide. With over 22,000 partners and a longstanding reputation for integrity, expertise, and exceptional client service, Northern Trust fosters a supportive and inclusive workplace that empowers employees to thrive and make meaningful contributions.