Operational Risk Management Specialist

3 weeks ago

Pune, Maharashtra, India Northern Trust Corporation Full time

About Northern Trust:


Northern Trust is a leading financial institution renowned for its innovative approach to risk management. As a Risk and Controls Self-Assessment (RCSA) Facilitator, you will play a pivotal role in ensuring the effective execution of operational risk management programs across the organization.



The Role:


This is an exciting opportunity to work closely with peers, stakeholders, and program management to drive the success of the RCSA program. As an RCSA Facilitator, you will be responsible for:



  2. Managing RCSA program deliverables, including action plans, post-effectiveness testing, and control evaluation.
  3. Reviewing workflows to identify and mitigate risks associated with the program and improve the overall control environment.
  4. Contributing to the development, maintenance, and enhancement of RCSA program Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs).
  5. Reviewing KPI/KRI frameworks, scorecards, and dashboards to ensure their appropriateness for the RCSA program.
  6. Developing, maintaining, and enhancing RCSA program controls and initiating projects as required.
  7. Implementing controls to mitigate process risks.
  8. Engaging with stakeholders to ensure timely completion of actions and meet deadlines.
  9. Ensuring the RCSA system of record is functioning properly and coordinating with Third-Party vendors.
  10. Providing UAT testing support for the system of record as needed.
  11. Improving the overall risk management culture and knowledge through training and awareness sessions.
  12. Collaborating with senior management risk partners and lines of business partners to coordinate operational risk management activities.
  13. Contributing to establishing and maintaining program processes and practices that ensure the enterprise program remains current and aligned with industry standards and best practices.
  14. Managing or leading projects aimed at improving the overall program.
  15. Communicating identified risks to key stakeholders, organizing remediation action plans, and tracking identified risks to closure.


Requirements:


To be successful in this role, you will need:



  • 8+ years of experience in financial services, with specific experience in operational risk, controls, or audit.
  • A working knowledge of audit, risk, and operational management concepts, with the ability to understand and interpret the impact of decisions and identify potential problem areas.
  • Strong communication skills, with the ability to engage in a clear, concise, and effective manner, both verbally and in writing.
  • The ability to foster a positive and initiative-taking approach to process assessment and improvement, and identify trends and improve processes for both the customer and the business.
  • The ability to handle multiple competing priorities.
  • The ability to make independent decisions.
  • Familiarity with Fusion and/or Salesforce.
  • Experience performing regression testing.


About Northern Trust Corporation:


Northern Trust is a Fortune 500 company and a globally recognized, award-winning financial institution that has been in continuous operation since 1889. We are 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.

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