Audit Director - Anti Money Laundering (AML) and Financial Crimes (Finance)

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.

The Audit Director is responsible for managing the Anti Money Laundering (AML)/Financial Crimes function within internal audit at the Northern Trust Corporation. This role is a direct report to a Managing Director and is responsible for overseeing the AML/ Financial Crimes audit team's planning and execution of audits, the performance management process and recruiting and retention of staff for the audit team. The Audit Director is part of the Audit Services Management Team that sets the strategic direction for the Corporation's internal audit function. The Audit Director is also responsible for interacting with Senior and Executive management, leveraging technical expertise to evaluate risk areas and ensuring that resources are properly aligned to audit these areas. This role provides leadership and guidance to staff, fostering an environment which encourages employee participation, teamwork, and communication.

You will provide assurance regarding the design, effectiveness, and sustainability of the AML/Financial Crimes program and its constituent components. The role requires interaction and influencing of stakeholders at all levels across the three lines of defense. The role holder must be passionate around developing people to raise the bar with technical subject matter competence.

The successful candidate will have a strong understanding of AML/Financial Crime risks and controls and be able to identify and assess risk in the context of the firm's business activities. A deep knowledge and understanding of US and international regulations is required, particularly relating to BSA/AML/OFAC compliance.

MAJOR DUTIES

• Direct oversight of portions of the audit plan and audit universe
• Strategic end-to-end management of components of audit universe (e.g., risk assessments, coverage requirements, continuous monitoring)
• Propose organizational alignment and assist in all staffing decisions
• Manager of Managers and Specialists. Provide coaching and training on strategic thinking and complex/technical audit coverage
• Proactive, strategic consultant to senior stakeholders
• Active and engaged participant at committees and working groups
• Defend audit plan, including coverage and timing, with Managing Director. Challenge out-of-cycle auditable entities and propose solutions
• Engaged on MRA/MRIA remediation through the entire lifecycle (e.g., review draft documents, participate in working groups and committees)

Planning:

• Review/ challenge and risk assess budget/audit coverage
• Defend audit scope; staffing strategy, expectations, Opening Meeting deck with Managing Director
• Complete L2 review of PQ, RCTM, and RCM, as needed
• Participate in recruiting process; escalate resourcing/skill constraints to Managing Director, if decisions impact other audits (e.g., moving partners off one project to support another project)
• Agree testing approach with Reg Validation team on MRA/MRIAs

Fieldwork:

• Provide insight/support on highly technical/complex tests
• Complete complex testing, as needed
• Complete L2 reviews on highly complex/technical testing, as needed
• Verify exceptions should be raised as an issue
• Lead discussions of complex/difficult findings with senior stakeholders
• Ensure key communications and status updates are occurring with the right level of management/ entity/accountable owner
• Perform validation testing of MRA/MRIAs, as needed

Reporting:

• Finalize audit issues/report, including ratings
• Identify Thematic issues
• Draft board reporting on key risks/themes

Data Analytics:

• Recommend DA Ideas and implement

Issue Validation:

• Final sign off on issue validation failure memos
• Provide status updates as needed

KNOWLEDGE/SKILLS

• Advanced knowledge of audit / accounting principles and college/university degree in a related subject area
• Strong technical subject matter expertise in AML/Financial Crimes/Economic Sanctions Compliance within the financial services industry
• Strong leadership, interpersonal, technical, organizational, and communication skills to effectively lead teams, partner with senior and external stakeholders and influence enhancements/change.
• Ability to provide effective review and feedback to a diverse mix of staff and play leadership role in staff growth and development.
• Demonstrates strong knowledge of regulatory rules and industry changes; technical expertise in areas of focus
• Have a professional designation (CPA, ACAMS, CISA, CIA, ACA, ACCA and/or MBA with demonstrated technical abilities
• Strong report writing and workpaper documentation skills

EXPERIENCE

• 15+ years of related work experience highly preferred
• Prior experience managing / developing staff and leading through others.
• Demonstrated ability to strategically consult and influence clients through operating environment challenges and enhancements.

#LI-Hybrid

Salary Range:
$137,400 - 240,400 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including 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, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

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.