Job Description

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/Department:

The Luxembourg based Risk Management function is part of the International Risk Management organisation and is responsible to oversee, assess and advise on financial risk management for NTGS SE (Northern Trust’s European banking entity). Reporting to NTGS SE’s Chief Risk Officer, the role will primarily focus on financial risks, including the maintenance of a robust financial risk framework (Risk Appetite Statement, Policies, Procedures) and the oversight of financial risk exposures, prudential ratios and other relevant metrics pertaining to credit, market and liquidity. The role will require engagement with business management as well as working together with NT risk functions in EMEA. The role will also collaborate with other members of the Risk Management function in the preparation of reports for the regulators, presentations for the Risk Management Committee and Board of Director’s meetings.

Key responsibilities of the role

• Maintain and further enhance NTGS Risk Management Framework (Risk Appetite Statement, Policies and Procedures covering Credit, Market and Liquidity Risk) vis-à-vis NT group standards and local regulatory requirements.

• Oversee Risk Appetite metrics and early warning indicators, liaising with 1LOD, challenging deviations and escalating breaches to the CRO as appropriate. Perform assessment of relevant RAS indicators, assessing Inherent Risk, Control Effectiveness and Residual Risks for Credit, Market and Liquidity Risk categories.

• Provide 2LOD input the design and assumptions used for stress testing in the ICAAP and ILAAP; assist in the preparation and review of the yearly Recovery Plan and Resolution Report.

• Prepare the Annual Risk Management Report for the CSSF, working together with other members of the Risk Management Function.

• Attend to the monthly Management Risk Committee, present summary of key indicators and regulatory updates as appropriate. Update dashboards and presentations required for the quarterly Board of Director’s meeting.

• Work together with risk function in the EMEA on the oversight of outsourced risk controls within the group.

• Participate in NT initiatives and implementation of Risk Control Enhancement (RCE) program.

• Promote effective collaboration within the broader NTGS Risk Management Function and support its activities as required.

• Develop and maintain relationships with business functions (including branches) and business unit risk management teams to foster an environment for open dialogue, collaboration and to be a trusted advisor on financial risk matters.

Skills/Qualifications

The successful candidate will benefit from having:

• Several years of experience in the financial risk management area in the banking or asset servicing industry in Luxembourg.

• In depth understanding of the regulatory requirements for banking institutions within the EU (CRD IV, CRR III) and CSSF circulars.

• Proven experience in risk governance, reporting and oversight, including presenting to and engaging with senior internal and external stakeholders.

• Self-motivated with the ability to operate independently or work as part of a team;

• Effective time management.

• Very good written skills with an ability to prepare succinct risk reporting;

• Well-developed verbal communication skills with an ability to effectively present and contribute in business meetings and risk forums.

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 and apply today. #MadeForGreater

Reasonable accommodation

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 MyHRHelp@ntrs.com

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.

About Our Luxembourg Office

In 2024, the Northern Trust Luxembourg office celebrated their 20th anniversary, an important chapter in their history. Having opened in 2004 to support one client, they have since grown their client base substantially and increased their headcount significantly, which now stands at over 400.

From modern fully equipped meeting rooms to a vast canteen with a view over a vegetable garden, maintained by our team all year round, and a rooftop where beehives have been installed, this space is truly a source of pride for our team. Learn more.