Central Bank Governance Specialist

Northern Trust • Chicago, IL

13d • Hybrid

About The Position

Northern Trust is seeking a Specialist to join their global Central Bank Governance group. This role is an individual contributor position responsible for overseeing Northern Trust’s central bank payment scheme memberships. The group ensures adherence to scheme rules and requirements, including annual assurance. As a payment scheme expert, the successful candidate will provide leadership and guidance to enhance controls, ensure compliance, and mitigate operational risk. This individual will develop operational strategies to minimize risk and assure compliance with relevant legislation and obligations. Additionally, they will offer consultation and advice to partners on controls and regulatory considerations. The working model is hybrid, balancing office and home work.

Requirements

• Payment scheme, operations or risk management experience, ideally from a bank / investment bank / custody bank background.
• Strong critical thinking and attention to detail, with the ability to ‘go deep’ to understand processes, controls, and regulatory / scheme requirements.
• Ability to systematically assess and challenge existing processes whilst managing multiple priorities and delivering to deadlines.
• Data-driven mindset - uses MI and data to measure performance, manage risk, and prioritize actions.
• Strong Microsoft 365 digital fluency, including SharePoint and collaboration practices (e.g., maintaining control artefacts, checklists, and evidence repositories), plus Teams/OneDrive and Excel-based MI.
• Demonstrated AI fluency and applied use of Microsoft 365 Copilot, including experience building lightweight agents/automations (e.g., via Copilot agent capabilities / Copilot Studio or similar) to improve productivity, insight generation, and reporting outcomes.
• Clear, confident communicator - able to listen, interpret, and convey complex topics with impact (verbal and written) to varied audiences.
• Collaborative partner with strong stakeholder-management skills, able to work across business units and geographies and build effective relationships internally and externally (as appropriate).
• Knowledge of global payment scheme obligations, e.g., ACH, CHIPS, Federal Reserve services, CHAPS, RITS, T2, SEPA, etc.
• Self-starter able to operate independently in a fast-paced, dynamic and demanding environment.
• Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Nice To Haves

• Relevant industry qualifications (or progress towards them) are a bonus.

Responsibilities

• Oversight of Northern Trust’s adherence to applicable payment scheme rulebooks and access requirements, including the Nacha Operating Rules (ACH), The Clearing House CHIPS Rules and Administrative Procedures (CHIPS), Federal Reserve Operating Circulars applicable to Fedwire/FedACH, and FedLine Solutions security requirements, and other schemes as required.
• Serving as a subject area expert on payment scheme rules.
• Ensure amended and new scheme rules & regulations are implemented into our processes and procedures in a timely manner, including the mapping and updating of regulatory rules.
• Ensure that procedures are in place (and are being followed) to demonstrate & evidence payment scheme requirements.
• Ensure robust preventative and detective controls are in place, well designed and operating effectively for business functions and drive recommendations to strengthen control.
• Participating in and sharing lessons from the central bank working groups.
• Contribute to review of incident reports to ensure true root cause and payment scheme impacts are understood, actioned and resolved.
• Build and maintain relationships with different stakeholders including Control, Resiliency Office, Regulatory Oversight, Risk, Compliance and Audit.
• Act in capacity of facilitator for payment scheme audits and regulatory examinations where applicable.
• Ability to manage and work with various MI and data sets; ensuring timely completion of MI and other ad-hoc reports as required.

Benefits

• retirement benefits (401k and pension)
• health and welfare benefits (medical, dental, vision, spending accounts and disability)
• paid time off
• parental and caregiver leave
• life & accident insurance
• other voluntary and well-being benefits
• discretionary bonus program that may include an equity component

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed