Senior Compliance Consultant (UK Custody Advisory)
- Location: London, England, United Kingdom
- Salary: Competitive
- Job Type: Full time
Senior Compliance Consultant (UK Custody Advisory)EMEA Compliance, a unit which forms part of Global Compliance and Risk, is entrusted with providing regulatory advice and assurance to senior management, boards, relevant committees, regulators and clients and ensuring Northern Trust ("NT") meets its regulatory obligations at all times.
As part of the EMEA Compliance team, this role is to act as the second line of defence, compliance subject matter expert ('SME') on regulations impacting our UK Custody and Liquidity Solutions businesses. Assist in the implementation of the Compliance model into the business and provide ongoing oversight and reporting to senior members of the Compliance team as well as Management that the business are meeting their regulatory obligations. The individual may also be asked to support the wider Compliance team and business units as necessary. This role will report to the CCO for The Northern Trust Company, London Branch (TNTC LB) and will have one direct report.
The key responsibilities of the role include:
• Act as a trusted adviser delivering a "consultancy" style service to partners in the UK Custody & Liquidity Solutions businesses, including on business projects, new product offerings, offshoring considerations etc., including providing challenge and escalation to senior Compliance management where necessary;
• Be an SME on regulation impacting UK Custody (assets and cash) & Liquidity Solutions, including CASS, COBS, BCOBS, PROD, PSR, and SEPA rules, with the ability to interpret business and operational impact where the business model or regulations change;
• Work in partnership with the wider Compliance and Controls teams, especially the CASS Office and Global Services Control;
• Develop and maintain the list of regulatory rules, guidance, controls and risk ratings that relate to the business;
• Support the creation and maintenance of Compliance policies and standards, and the development and delivery of training to partners in particular those relevant to the Custody & Liquidity Solutions business;
• Monitor and assess on a day to day basis the adequacy and effectiveness of the measures, controls and procedures put in place by the business to address the company's compliance with its regulatory obligations;
• Attend relevant business and compliance meetings and provide the compliance view of the business;
• Assist the Regulatory Developments team and the business to monitor regulatory developments, including industry thinking and guidance;
• Work with the Regulatory Liaison team and the business to respond to regulatory requests, meetings and reporting relating to the businesses;
• Produce and provide Compliance reporting on to Senior Management, Boards, Committees and Compliance Management for consideration.
• Encourage an environment of employee participation, teamwork and open communication where regulatory compliance is an intrinsic part of the culture and day to day operations of the Businesses.
• Act as a role model and demonstrate behaviours in a way that is aligned to the Conduct framework and reinforces the values and ethical standards of the Businesses.
The successful candidate will benefit from having:
• Experience in Compliance related to Custody and/or CASS, preferably within a global financial institution;
• Operational or legal expertise would be beneficial;
• Extensive knowledge of FCA handbooks and relevant laws applicable to UK Custody & Liquidity Solutions, in particular CASS, COBS, BCOBS, PROD, PSR, and SEPA rules and guidance;
• Experience in manging and/or dealing with global/regional custody models would be advantageous;
• Excellent communication (verbal and written) and interpersonal skill;
• Proven strong organisational skills;
• Lateral thinker with an ability to interpret and solve complex issues;
• Ability to use initiative and work unsupervised in a proactive manner;
• Experience in regulatory exams and audit management preferable;
• Collaborative and flexible approach to work.
The competencies that would be valuable for this role include:
• Excellence in Execution;
• Effective Communication;
• Analytical Thinking;
• Problem Solving Skills;
• Focused Client Relationships;
• Time Management
About Northern Trust
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion.
As of September 30, 2018, Northern Trust Corporation had:
• $10.8 trillion in assets under custody/administration
• $8.2 trillion in assets under custody
• $1.2 trillion in assets under management
• $132 billion in banking assets