Risk Specialist - Wealth Management Transformation

Northern Trust • Chicago, IL

1d • Hybrid

About The Position

Wealth Management Risk Management is seeking a senior-level Risk Specialist with experience in financial services and a strong understanding of the Wealth Management business. This role serves as a trusted risk advisor to the business, focusing on risk assurance and providing independent review and challenge on material change and transformation initiatives including new products, services, systems, vendors, and regulatory developments. The Risk Specialist partners closely with Wealth Management leaders and corporate functions to assess risk, support sound decision-making, and ensure alignment with risk appetite, governance frameworks, and regulatory expectations.

Requirements

• Bachelor's Degree and 10+ years of experience in financial services with a focus on Risk Management, preferably with Wealth Management domain knowledge
• Risk advisory roles in strategic change projects – new product, new business, business expansion
• Strong evaluation skills and ability to provide risk advice on a broad range of issues, initiatives and scenarios
• Strong analytical, problem-solving and communication skills to apply to all levels of an organization and in particular, at risk forums
• Ability to establish trust-based relationships with stakeholders across enterprise and lead them towards common objectives across teams
• Ability to develop hypotheses and make quick decisions in an agile environment
• Highly flexible and adaptable to change

Responsibilities

• Risk advisor to the Business on transformation initiatives and material change activity (e.g. new product, new business, new vendor etc.), including initial high-level views and channeling to appropriate risk evaluation and governance processes
• Engagement with business strategy and transformation initiatives ensuring a strong awareness and understanding of growth, product development and client prospects
• Broad knowledge across relevant risk disciplines (e.g., operational, regulatory, fiduciary, technology, third-party, data/digital), with strong understanding of risk governance, risk appetite, and second line “review and challenge” expectations
• Risk assessment of material incidents and issues, including a review and challenge of the Business's risk evaluation process
• Support Corporate Risk in their development of risk frameworks and programs, and be an escalation for the Business and Corporate Risk owners
• Participate and contribute in Business Unit risk forums and committees
• Interacts, partners and presents to Senior and Executive Management to understand the risks/challenges within the business, business changes and other significant events that could significantly affect the firm or adherence to regulatory requirements and risk appetite
• Maintains familiarization and technical expertise across the firm including organizational structure, personnel, activities and products, new product development, technology and data workstreams, financial performance and risk, and other areas as appropriate
• Communicates with partners at all levels, developing and presenting recommendations on operations and controls

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: Senior